can the bond be used to pay landlord insurance excess?

hi all

quick question, i am going through a landlord insurance claim for rent default,
I was wondering if the bond can be used to cover the insurance excess?

thanks
 
Most LL policies will require the bond to be used up prior to them considering a claim. So generally no, bond cant be used to directly pay an excess. The claim payout from the insurer will be less the excess anyway normally so you never actually pay any actual cash for the excess.
 
hi all

quick question, i am going through a landlord insurance claim for rent default,
I was wondering if the bond can be used to cover the insurance excess?

thanks
It will depend on the policy but you will find that with most policies the excess can essentially be "paid" with the bond money. An excess is essentially just the portion that the insurer won't pay, and the bond can/should be used towards the items not covered by insurance, and this can certainly include the excess.

The excess you are referring to, is that an excess on rent default? Who is the policy with? I would always recommend having a landlord policy with no excess on rent loss which frees up the bond to cover non-claimable items such as cleanup and minor damage, even in simple claims.
 
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