Insurance cover, gaps between Landlords repsponsibility and your actual cover

Not a blog for everybody, but those who have leasehold premises and Insurance on a full repairing basis , you might want to check a few gaps between the two effective polices.

Obviously this one came across my desk recently so thought I would share to reduce the risk and potential loss to other businesses. Examples include.

DOORS… yes doors. Seems a combined insurance policy for a business in leasehold property doesn’t cover doors/security doors or anti ram raid bars. Or should I say Loss adjusters will try and reduce the value of the claim by “encouraging” the Landlord to cough up.

It’s ok you say, the landlord owns the property, they will insure .. this is not a given. Check

Rats and Rain –Seems this gap amongst others like shared guttering,. anti rodent damage and a few other interesting bits and pieces fall between the two policies.

Now if you are unfortunate enough to be ram raided , have security doors/ roller shutters you are looking at serious cash or even Rats chomping though you vehicles [ another blog for another day] ..you could be talking £k’s.

So ask for the landlord’s policy document , check the excess some are so high a claim is prohibitive[ e.g £2500 on a building rent of £4k.. seriously] . Your insurer will send a loss adjuster who will try and claim from the Landlord leaving you out of pocket for however long that stand off lasts.. QED your cash flow damaged .

Please make time to check the connection between the two levels of underwriting. We all buy insurance hoping never to use it. But its worth checking… just in case.

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