We have an insured that carries a rental value business income coverage on a CP 00 30 10 90. In November the insured premises were vandalized. The insured claims he has the right to collect the monthly rent of the building while he performs the repairs.

Even though the premise was rented at the time of the loss, the tenant's contract ends on November 30. The insured was in the process of advertising the building for rent. He started advertising the building for rent four months prior to November 30.

At the time of the loss the insured was unable to find a new tenant for the building. And there's no evidence that he has a prospect to rent the building.

Since there's no evidence that the insured has a new tenant or a prospect to rent the building we believe that there's no rental income loss.

Puerto Rico Subscriber

The insured would be entitled to any rental income lost from the tenant who was there until the 30th, but not for the unrented time period unless there was some tangible sign that there would be a tenant, and it does not sound like there was.

 

 

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