5+ months and still insurance won't give me any payout / decision

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    5+ months and still insurance won't give me any payout / decision

    Dear Forum

    Last year I had 2 tenants from hell, who used my property as a place to sell drugs from and basically wanted to remove all the other tenants from the licensed HMO.

    They did this by a combination of violence and by constantly causing malcious damage to the property, such as cutting cables to microwaves - ripping off doors - smashing up bathroom - repeatedly removing toilet seats and setting of fire alarms etc etc.

    I informed my insurance early on into these issues, but with no means to evict due to Covid, I explained that it would be a pointless process of going into the property to carry out any major repairs until the 2 tenants were evicted, which thankfully happened a few days before Xmas last year, but even though a loss adjuster visited before Xmas, I have no idea yet when or what they will be paying for.

    I have had to supply so much information / photo's etc and had endless reasons that my insurance was invalid, such as I never declared it to be a HMO, (but was fully declared and insured as such) or I never done checks on tenants employment, which I did, but I could have tenants that were employed / unemployed.

    I've been stuck in a situation whereby I can't afford to carry out repairs and replace the damage furniture within 5 rooms that were trashed along with a kitchen and bathroom so not been able to get a rental income, but I'm looking to sell on the property at a loss to another LL.

    My questions are how long would it normally take to get the loss adjuster report or any decision to payment and when I renewed my policy 4th January I took out loss of rental insurance cover, would the fact that I can't rent out rooms due to the insurance company delaying their payout / answers, be a good enough reason to make a claim fro loss of rent.

    Thanks for your thoughts.


    #2
    How did you think rent guarantee insurance would work out? What you describe is what you expect.

    Next time pick better tenants and forget the insurance.

    Comment


      #3
      I highly doubt they will cover you for losses when you don't have T's otherwise everyone would take out insurance on empty properties and claim loss of rent. If you previously had this policy then it is different and they should be paying this element to you (based on the criteria) on taking out the policy.

      If you can not fix the property, sell it, in the meantime you should be chasing the insurance company in regards to settling the claim one way or another.

      Comment


        #4
        Make a formal complaint using the insurance company complaint process. Use the threat of the financial ombudsman. The company have 8 weeks to deal with it after which you can go to the ombudsman. Info is available on the FOS website.

        Comment


          #5
          1. The Which Report website gives advice on how to claim against insurance companies :

          2. Some sunday newspapers have a column which offers help to readers ( consumers ).

          Comment

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