Do you know what kind of damage is most likely to affect your rental property and lead you to make an insurance claim? We have the top ten reasons that landlords have to claim on their insurance…
The Top 10 Reasons Landlords Make an Insurance Claim
Storm damage, burst pipes and damage from break-ins are the main reasons that landlords are forced to make a claim, with conservatories particularly vulnerable to damage.
First up is storm damage to a property, which costs an average of £1,500 to repair.
Damage to ceilings, walls and carpets caused by burst pipes is second on the list, with an average bill of £4,500.
The third most common reason for making a claim is property damage caused by break-ins, with a typical claim of £2,300.
Next is vandalism, followed by accidental damage to the building, excessive rain, collapsed drains, and vehicles crashing into the property, which costs an average £4,600 to repair.
The most expensive cause for claim is often damage caused by an electrical fire, which costs around £25,000 to fix.
If your rental property has a conservatory, be aware that bad weather, such as hailstones or high winds, can damage the glass and cause further harm to the property.
But don’t fear – our Landlord Property Insurance covers you for loss caused by a variety of weather conditions, and also accidental damage to glass.
The top ten reasons landlords make an insurance claim
| Position | Reason | Average repair cost |
|---|---|---|
| 1 | Storm damage | £1,500 |
| 2 | Burst pipe | £4,500 |
| 3 | Damage from break-in | £2,300 |
| 4 | Vandalism | £1,900 |
| 5 | Accidental damage to the building | £2,200 |
| 6 | Damage from excessive rain | £2,100 |
| 7 | Collapsed drains | £2,600 |
| 8 | Damage from vehicle crashing into property | £4,600 |
| 9 | Electrical fire | £25,000 |
| 10 | Leak from the property | £2,000 |
Remember the importance of protecting your investment property and rental income with Just Landlords.
