Are you covered?
Not all landlords insurance is equal!
We want to provide you with excellent service and advice. We believe it’s our job not only to advise you on potential risks, but also to help you reduce risks wherever possible.
It’s much better to pay for security than to pay for your tenants mistakes!
That’s why we strongly recommend using a specialist landlord insurer.
What is landlords insurance?
Landlords insurance IS NOT home and contents insurance. Most home and contents insurance policies DO NOT have adequate landlord insurance coverage. This means they may not cover you for lost rent or damage caused by your tenant.
Whilst most tenants will look after your property and will pay their rent on time things can wrong even without bad intent from your tenant.
For example, your tenant has just lost their job and can no longer afford to pay their rent. Prehaps they’ve accidently damaged something in your property and can’t afford to pay for the repair.
Here is a list of items to check for in a landlords insurance policy:
- Loss of rental income – protection from loss of rental income as a result of scenarios.
- Contents – protects those furnishings you forget, like curtains, carpets, blinds and light fittings.
- Building – protects your building against loss or damage caused by your tenants, their family or their invited guests.
Aren’t they all the same?
We recommend using an insurer who specialises in landlords insurance. Not all landlords insurance policies are provided by landlords insurance specialists.
This means a policy recommended by just any insurer may have exclusions in the product disclosure statement which could prevent you from making a claim. To make things easy, we have broken down an example claim below and have compared the 2 policies:
Every property and owners situation is different, so it is important that you do your own research to find a policy that suits you. We have provided general, non specific advice only and recommended speaking to the insurance provider directly for more information.
If would like more information on Terri Scheer, please contact us or Terri Scheer on 1800 804 016 or visit their website at: https://www.terrischeer.com.au/