Landlord Insurance – Essential For All Landlords

The appropriate insurances can become a point of confusion for some landlords, with confusion between Building Insurance and Landlord Insurance.

Buildings insurance is an insurance policy that covers the financial cost of repairing damage to the physical structure of a property in the event of damage or theft. This includes the roof, floors, and walls, as well as any fitted or permanent fixtures.

Landlords’ insurance is an insurance policy that covers a property owner from financial losses connected with rental properties. The sort of thing that is covered by Landlord insurance includes:
• Damage by pets to building and contents
• Damage or theft of contents by tenants
• Loss of rent
• Rent default
• Liability cover
• Flood cover
• Clean up costs associated with illegal drug production

We consider that Landlord Insurance is utmost important for landlords. Landlords must have building insurance on homes, townhouses and even units that are separated, but  Landlords insurance is what will cover the contents of your property.

A good example is owners who have invested in apartments. The Owners Corporation in this instance will not cover you for water damage to carpeted areas, therefore you would need to rely on your Landlord insurance.

We recommend that you check your current policies to ensure you have adequate cover. Click Here For A Brochure Covering Landlord Insurance.