Query about general insurance

xkronix

i have general insurance with Lloyds TSB and last night my brother left the bath on for an hour because he got distracted. Anyway, it leaked through the floor into the flat below and then through to the shop below that. does any one know if general insurance coves damage to comercial properties? Lloyds website is too rubbish to find it out there. Either that or I'm just dumb

mattymoo

Is the shop yours or do you just live in a flat over the shop?

If you own the shop, the damage is not covered by your household policy. Also, you cannot claim against it under the "liability to third parties" cover because you cannot sue yourself. You will need to make the claim under a commercial shop policy if you have one.

If the shop is owned by someone else, they will claim against their commercial insurers who may then come after you / your brother as the negligent party. Your insurers will deal with this for you.

lisyloo

Yes it should cover damage to 3rd parties.
The fact that it's commercial rather than residential shouldn't make a difference (provided he's been honest when obtaining a quote) i.e. he didn't lie about living above commercial premises.

xkronix

the shop isn't mine, i just live above it. the shop is owned by a national company. i've given them my name and number, do i need to call my insurance company and sort things out from there?

mattymoo

Yes, let your insurers know what happened and forward any correspondance you receive from the shop owners to them.

You may find it takes 2-4 weeks before you hear anything from the shop owners. Being national they will probably put everything through their HO estates department who will then get in touch with you to indicate they are holding you responsible.

FlameCloud

I wouldnt personnally bother.

Give him the number of the insurance company if they ask, but aside from that theres not alot you can do.

If they (the shops insurers) do decided to seek a contribution they will do it directly to your insurers, you shouldnt have to do anything.

mattymoo

FlameCloud wrote: »

I wouldnt personnally bother.

Give him the number of the insurance company if they ask, but aside from that theres not alot you can do.

If they (the shops insurers) do decided to seek a contribution they will do it directly to your insurers, you shouldnt have to do anything.

Sorry but that is bad advice. Your insurers will not be pleased if you delay telling them about this matter for several months when the shop owner decides to make their claim.

If the water damage is substantial they may elect to appoint their own adjuster to control costs. They cannot do that 6 months down the line.

Janusian

Not many people realise that there Home Insurance has a section that covers them against people claiming against them for negligent actions. So if you are walking along the high street and cause an accident, then any one who sues you would have the damages paid by the public liability section of your home insurance (this section will often specifically exclude accidents caused by your use of motorised vehicles so is not a substitute for motor insurance).

This would certainly seem to be the case here, but you should notify your insurers straight away, as most policies will have a clause requiring you to do so. Failure to comply with that clause could prejudice your position. Please be aware that you may have an excess on this section. Best to look at your policy docs.