Is Water / Fire Damage Covered In A Rental Apartment?

Rental Apartment Insurance Cover

In the event of a fire in your rental apartment

Contact the Emergency Services immediately and ensure occupants are safe and out of the premises – this will probably happen before you (as Landlord) are notified in any event…

Contact the OMC directly – they will have a procedure in place on what to do next…

In the event of making a claim for Water Damage / Fire Damage

When it comes to making a claim, be ready with full details and evidence of the damage when you call your insurer. Have your (Landlord’s Contents) insurance policy to hand. This will help speed the process along.

In terms of the OMC Block policy, the representative (property manager) from the OMC is usually tasked with the notification to the Insurer and the conduit for all liaisons between you and the Insurer, albeit the Insurer’s Loss Adjuster will also liaise with you.

Note that (for minimal damage) it could often be cheaper to pay someone to fix any damage without claiming on your insurance as your premium could rise as a result of making a claim, and this may affect your no claims bonus/discount entitlement. Also, your policy excess may reduce any amount you are entitled to claim considerably.

Helpful Pointers:

  • Be fully aware of the damage to your property – you may need a local builder or tradesman to assist you here
  • Notify your Insurer / Broker without delay – when the Insurer’s Loss Adjuster (LA) contacts you, liaise with them in good faith and provide whatever details are requested
  • You may appoint your own Public Claims Loss Assessor (PLA) to represent you at your own cost. You may decide to do this due to the size / severity / complexity of the damage or for other reasons. Your PLA will liaise with Insurers LA and deal with most matters themselves
  • The OMC Block Policy Loss Adjuster may be dealing only with damage to the buildings / loss of rent aspect whereas the Landlord’s Contents Insurer may appoint their own Loss Adjuster to deal with your Contents claim (where relevant)
  • Record the damage – take photographs / footage of the damage and any goods damaged / do an inventory
  • Mitigate any further loss e.g. turn off services at the mains / secure the property (this will usually be done via the OMC property manager directly)
  • Ask the tenants to move items to a safer place.
  • If the property becomes temporarily uninhabitable, please liaise with your Insurers to discuss alternative accommodation. However, Landlord’s are under no obligation to re-house tenants in these circumstances.
  • If the tenants  have  to temporarily leave the home, confirm with the tenants that the necessary repairs will be carried out within a reasonable period of time, and advise them of the date that the works are due to be completed.
  • If the tenants have contents insurance, they should check their policy to see if they are covered for the damage. There is no obligation on a Landlord to insure a tenant’s personal belongings. You should advise the tenants once they move into the property that they should take out Insurance cover for their own contents
  • Liaise with Insurers Loss Adjuster and your own Loss Assessor (where relevant) to further the claim to a conclusion.