Introduction
When we talk about rental property insurance landlords are responsible for few things such as bricks and mortar of that building or house. Often people talk about landlord insurance but when we look at the record it reveals that most of insurance landlord claims about 5 types of damages.
Detail
Water Problems Claims
Record reveals that the most common claim in insurance landlord is water problem. When we say water problem it means drainage problems are also included in it. In this regard it is advised that all the pipes of water and drainage must be checked properly and if any kind of leakage found it must be repaired as soon as possible.
Features
Accidental Damage Claims
After water claims the other most common claims in insurance landlord is damage caused because of accidents. In this type of claims mostly damage occurs to the carpets, doors, windows, bathrooms and television etc. The main cause of accidental damage is lack of interest from the tenants. These kinds of accidental damages can be avoided by choosing the tenants carefully. Keep in mind that young students and couples with young children are more likely to cause accidental damage claims. Another tip to avoid such accidental claims is choose the furniture and carpets which are more long lasting. Try to use silk paint so that it can easily washable. These kinds of small things at the time of decorating the apartment can result in big savings.
Storm Damages Claims
In stormy conditions roofs are the biggest risks for the insurance landlords. Roofs are also important for water damages. Make sure there are no any loose tiles or holes in the roof. If there is any such kind of problem replace and repair the same quickly without any unnecessary delay. Be careful when expectations of storms because there are few things which are necessary to looked before storms hit the area such as remove any expensive plants in the garden, reinforce the doors and the windows. The best way to secure windows and doors is put plywood ahead of glasses. Through this way it becomes easier to minimize insurance landlord claims.
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Malicious Damage
One of the most unavoidable claims in any kind of insurance including insurance landlord is the damage caused by thefts and robberies. In insurance landlord this is also one of the major claim types. In some areas the ratio of this type of claims is higher than others. In this regard the best safety is put dependable security systems. Try to install doors and windows which have resistance against such kind of events if your house is situated in the areas where high crime rate reported. Insurance companies want more detail contents insurance for the properties which are furnished or partially furnished. You need to record the inventory at the time of handing over the possession because this could be very useful while applying for the claims of your insurance landlords. There is another thing which can be included in insurance landlord is cover against nonpayment of rent. This type of cover is really useful because we meet all type of tenants in our life.
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