Why landlord insurance is a MUST for all landlords.
If you’re a new or experienced landlord, it’s important to protect yourself against the risks of owning an investment property. Landlord insurance is a must to make sure your covered when things don’t go as planned through your property investment journey.
We manage over 400 properties, ranging in price from $300pw through to $1900pw. Regardless of the style of property you own or how much it’s worth, I always recommend my clients compare landlord insurance policies and find a quality comprehensive cover that will protect them.
Throughout the year, we may only have 1% of our properties that require a Landlord insurance claim but when the unexpected costs of a flood or fire, or a tenant deciding they’re going to vacate in the middle of the night half way through their tenancy, our landlords are glad they have an insurance policy to cover them.
We aim to ensure our clients are aware of any risks they’re exposed to as a landlord and ensure that those risks are minimised.
But finding the right cover can be a little tricky.
Here are some key points you want to make sure you’re landlord insurance policy covers you for:
If you own an apartment, it’s also important to note that the Owners Corporation will also have insurance. This insurance only covers items relating to the building itself and not the contents of your property. For example, walls and ceiling damage will be covered by the Owners Corporation insurance but carpets and blinds will not be.
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