Why do I need Landlord Protection Insurance?

By September 24, 2018 No Comments

Your investment property is a valuable asset which generates an income stream. You need to consider carefully what would happen if that income stream suddenly ceased.

This could happen for a number of reasons, but mostly due to the ‘human factor’. A rental income is never guaranteed. You could have the best tenants in the world, but if their circumstances changed and their income stopped, chances are that their rent will fall behind. And you could have the best Property Manager in the world, but no-one can get blood out of a stone.

Landlord Protection Insurance is designed specifically to cover property Owners for unforeseen losses. The two main areas covered are loss of rent and damage caused by tenants.

Landlord Protection Insurance is very cost effective – around $300 per year for a good policy. But be careful – policies vary greatly with what they offer and the cheap ones are often not worth the paper they are written on.

Click here for more specific information on how to choose the best policy.