OF RENT - INSURANCE
and above the sum insured, under a typical home buildings insurance
policy, the insurer will pay you the rent you lose (if you are a
landlord) while your home is being rebuilt or repaired. This cover is
available to you if:
- you have either a replacement
or an indemnity policy.
- the insurer is satisfied that
your tenant cannot live in your home.
- your home suffers loss or
damage because of one of the listed events.
insurer will pay you only for the reasonable time taken to rebuild or
repair your home. The most the insurer will pay for loss of rent is
the smallest of:
- the rent lost while your home
is being rebuilt or repaired
- 12 months rent, or
- an amount equal to 10% of the