Fortunately, in most cases the insurer will reimburse this loss of income if loss of rent is the result of a covered event on comprehensive perils insurance.
Damage assessment is based on the rental value, i.e. the rent, of the property. This is insured by default up to 10% of the sum insured for up to one year if rebuilding or repair is undertaken.
In some cases, the standard period or amount of the sum insured may not be sufficient.
This can be tested as follows:
1. The time period must be appropriate to the period during which the leased building can be rebuilt after damage and during which time the landlord receives no or less rent.
2. The insured interest should be matched to the total amount of rent receivable over that period.
Especially given the increasing delivery times and price increases of construction materials, it may pay to evaluate loss of rent. Coverage can be adjusted based on each specific situation so you don't lose rental income.
Wondering what Base Insurance can do for you? Book a free 30-minute second opinion.Make an appointment
Put together a package and calculate a premium instantly
Protect construction projects best with these 4 points
Valuable insights for property insurance
How we respond to the latest trends in real estate.
Five benefits to cut costs and increase protection.
The differences between the products.
Easily request pieces online with our new feature.
These benefits have a visit from the insurer on your property insurance.
Secure your rental income with coverage for lost rent.
Checking insurance clauses cannot prevent payouts in the event of a claim!
Is the owner of a building always liable for damage caused by his building structure?
Why having buildings appraised provides long-term benefits.
Four factors that ensure a broker manages insurance cost-effectively.
How loss of rental income due to damage can be countered.
Going into 2022 full of security? Evaluate your insurance portfolio on these four points!
We are often asked whether it is necessary to insure foundations.
The clause automatic coverage as a safety net for expanding your portfolio.
Three points to consider when installing solar panels.
Energy label label C is mandatory for all Dutch offices starting in 2023.
Coverage overrides illegal activities.
4 questions answered about mandatory installation of smoke detectors in homes.
With this type of building, it is extra advisable to insure glass.
Downed trees and loose roof tiles; how can storm damage to property be mitigated?
The Netherlands has nearly 62,000 national monuments with historical aspects. How do we keep this intact?
While everyone agrees on the benefits of wooden high-rise buildings in this circular era, intractable long-term risks remain.
What are the most common damages during construction and how can continuity be ensured?
Three concerns that affect the premium for an investment portfolio.
Five points to consider when installing third-party solar panels.