Loss of Rent cover is essential

Can you afford not to have cover?

A property owner of a Commercial unit being used by an engineering firm made a claim in 2005 on his loss of rent extension. His rent on the unit was £1,250.00 a month - the property had a fire and was 90% destroyed. The property owners insurance covered the re-build of the property but it took over 12 months for site clearance, design, authorisation and re-build.

This resulting in a loss of rent claim alone over 12 months of £15,000. If the client had not had any loss of rent cover he would have been £15,000 out of pocket.