Subrogation…”Never do a deal with your Tenant”

Say what!

Little known but highly important and significant aspect of your insurance policy.

Sometimes referred to as “recovery of loss” and protects you and your insurer for paying for losses that aren’t your fault.

By doing a deal with the tenant eg “Just pay me the cost of the excess” you may have disqualified your insurer the opportunity to recover costs from the tenant that caused the damage. If you then proceed to make a claim you have effectively “double dipped” by profiting from a claim something that insurers do not take lightly and may then void your claim…or worse if your actions can be deemed fraudulent.

So if you have a potential insurance claim allow your provider to make the decisions as to who should be held accountable.

Above information sourced from EBM RentCover