Effective Landlord Insurance

Effective Landlord Insurance

To have further peace of mind in the management of your investment property, we recommend that you have a landlord protection insurance policy in place to cover loss of rent in default circumstances, malicious damage, accidental damage and legal liability.

It is advisable for all prudent property investors to have landlord protection insurance as added protection for their investment. Such policies are available from a variety of insurance companies.

When considering such insurance, careful attention needs to be paid to policy inclusions and exclusions and also policy excesses as they do vary widely from company to company. Other things to look for in a policy include cover for any losses incurred as a result of a death of a tenant and if there is cover if the tenant defaults whilst on a non fixed term agreement or if the tenant breaks the lease term.

You should also consider if the insurer will allow your property manager to process and lodge the claim or if it needs to handled entirely by the underwriter.

For a modest tax deductible premium, a landlord protection insurance policy should be a mandatory consideration for all property investors to ensure that investment is risk minimised.

Article provided by the Leading Property Managers of Australia – www.lpma.com.au

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