Blogs

RealRenta Tips for Landlord Insurance

LANDLORD INSURance.jpg

A lot of investors make the mistake of thinking building insurance is enough to cover their investment property.

Generally, landlord insurance is sold in addition to a home insurance policy and it specifically covers the risks that are associated with renting out a property, like liability cover, malicious damage and tenant default.

Here is a general guideline of what “typical” landlord insurance covers for both individual and strata properties:

  • Damage
  • Rental Loss/Default
  • Liability Cover
  • Burglary
  • Contents
  • Fusion
  • Building inclusions
  • Rebuilding Flexibility
  • Underinsurance protection
  • Demolition and removal of debris

In our view, these are the non-negotiable essentials of landlord insurance, so at a minimum, make sure your policy covers you for the following:

  • Theft or burglary by tenants/guests
  • Malicious damage/vandalism by tenants/guests
  • Loss of rent due to tenant default
  • Liability Cover

Want to see how easy it is to manage your own investment property and avoid all the fees? Trial RealRenta now Free for up to 2 months, 

Use RealRenta for Free for up to 2 months Now!

 

Marlene F Liontis