Insurance Claims for Tenant Damages??

[MonteDobson]

We have a property where the tenant pulled a midnight move and left some fairly extensive damages to the house (ie. burn holes in carpets, holes in walls, marker on walls etc).



I had heard from someone that this may be covered by insurance, but after checking with my broker, it is not.



Looking for feedback from others as to insurance coverages for tenant damages, beyond regular wear and tear? Anyone have this kind of coverage?? If so, have you ever had a successful claim???



Thanks,

 

[invst4profit]

I have never heard of a company that provides tenant damage coverage.



I thought you guys out west had damage deposits.

IN Ontario we don't which means we are either on the hook for all tenant damage

or we take tenants to small claims court.

 

[dplummer]

With the cost of Insurance ,making a claim unless it's a large amount will really work against you in the long run.

Doug

 

[Sherilynn]

We have REIN Investor Guard insurance with Aviva. The broker is Park Insurance. We are covered for "Vandalism by Tenants" for up to $25k with a $2500 deductible. To my knowledge, this is a very unique policy.