Loss of rent insurance due to flood?Make Text Bigger
I let my property in 2007 for £700 pcm (mates rates).
I didn’t bother to update the rental agreement and only raised rent by £75 in 7 years.
When my tenant left due to a flood three months ago the loss of rent insurance kicked in at £700 pcm, even though I eventually rented for £995 which is the true market rental value.
My question is; what is the insurance company liable to pay, is it the £995 market rental value or what my mate was paying at 2007 mates rates?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.