Conducting a Landlord Protection Insurance Health Check can be a very daunting process. With such a large number of policies available it’s important to know that you’re being covered should any adverse circumstances impact your investment property.
One of Calibre Real Estate’s Business Development Manager, Emily Williams, shares with us her thoughts on the importance of Landlord Insurance, “When choosing a policy, you need to ascertain what is most important to your individual circumstance, not necessarily what is the cheapest. There are a lot of policies out there that may be cost effective but they may not cover your specific requirements.”
To help, we’ve prepared a Landlord Insurance health check to help you make an informed decision when choosing the right policy to protect your investment.
Landlord Insurance Health Check
1. Does your Insurer allocate the bond refund to rent? Or does your Insurer allow your Property Manager to allocate the funds to alternative expenses incurred?
2. How much does loss of rent cover? Is this enough time to follow legislative procedures prior to securing a tenant, including vacancy period?
3. Is pet damage included in your policy?
4. Is there an excess for loss of rent? What is the excess for property damage?
5. Does your policy allow for accidental damage?
If you found this article helpful then check out these other articles about landlords, investing and purchasing property that other readers have enjoyed :
- The Best Brisbane Buyers Search Checklist for Residential Property
- 6 Things Every Property Investor Should Know When Buying
- How to Buy A House : 9 Things You Need To Know Before Signing
- Ten Tips About Buying Real Estate That Will Save You Money
- The 7 Vital Facts You Need to Know As a Buyer In a Multiple Offer Situation
- How To Be The Winning Bidder At An Auction
- How To Buy At Auction. 14 Things You Need To Know.
If you have a property in South East QLD that you would like to discuss with one of the team members at Calibre, then please feel free to call our office at (07) 3367 3411 or lodge an enquiry on the “Property Management” page on our website.
Conducting a simple Landlord Insurance Health Check can make a big difference to your bottom dollar!