Insurance claims for theft/brake-ins at Investment rentals

[Jigar Patel]

Hello Friends, 

I wanted your inputs for the unique situation i have been facing for one of my rental managed by Property management.   

One of the tenant (single man, Living alone in the unit) of my Investment duplex in Atlanta area stopped paying his rents few months back, We started eviction process for him. After couple of months, we found out that He got killed in one unfortunate event when he was in other city, and that's why he stopped paying the rents, so we asked court to stop eviction. 

Finally we got a possession of that unit back,  and found out the There were brake-ins in the unit by some teens from the neighborhood while the unit was vacant. The unit had some damage from the brake-ins and also they stole some items from the unit as cupboards etc. I had to spend significant amount to fix the damages.  

anyone have any experience negotiating these kind of situations with insurance company? I have rent loss provision in the policy. I really appreciated if someone can share their wisdom/experience with me.  

Regards, Jigar.   

[Adam Christopher Zaleski]

I would treat this as a math problem. If you made a claim, how much of a financial loss would you claim? What is your deductible for the claim? Typically, the amount claimed needs to be at least 3 times your deductible for it to make sense long term. Insurance rates typically go up after you make a claim.