We need to find landlords insurance for our first IP. Just looking for some recommendations. Is there anything we should look for when assessing different options? What level of cover should we consider?
Thanks.
Thanks.
Landlords insurance - who do you use?
- Thread starter newlywed1311
- Start date
NW,
This has been discussed a lot on here.
Try searching for "landlord insurance" in the Property Management forum.
To get you started look here:
http://www.somersoft.com/forums/showthread.php?t=50851
and then here:
http://www.somersoft.com/forums/showthread.php?t=49650
This has been discussed a lot on here.
Try searching for "landlord insurance" in the Property Management forum.
To get you started look here:
http://www.somersoft.com/forums/showthread.php?t=50851
and then here:
http://www.somersoft.com/forums/showthread.php?t=49650
Thankyou
I looked for a 'search' function once I came into this thread. Will go back to the general forums thread and do a search.
Cheers.
I looked for a 'search' function once I came into this thread. Will go back to the general forums thread and do a search.
Cheers.
If you have a good car then even dont think to drive it without insurance. If you have ANY investment property a landlord insurance is a must.
Requirements: acidental and not accidental damage, rent payment, rent loss due to untenantability, legal expanses. You have to have an inspection report before tenancy and it's a good idea to make some videos and photos as well. Keep all bills related to recent renovations.
If tenants destroy your house and owe you thousands of $$$ you can do nothing to protect yourself: police will record everything but they will not provide address of the tenants (privacy!). Without an address you can not bring the case in the court. Even if you know an address then before a hearing you have to send a letter of demand. When tenants receive this letter it's very likely they will disappear again.
Consider Terri Scheer Landlord insurance. It's not cheap but reliable.
Requirements: acidental and not accidental damage, rent payment, rent loss due to untenantability, legal expanses. You have to have an inspection report before tenancy and it's a good idea to make some videos and photos as well. Keep all bills related to recent renovations.
If tenants destroy your house and owe you thousands of $$$ you can do nothing to protect yourself: police will record everything but they will not provide address of the tenants (privacy!). Without an address you can not bring the case in the court. Even if you know an address then before a hearing you have to send a letter of demand. When tenants receive this letter it's very likely they will disappear again.
Consider Terri Scheer Landlord insurance. It's not cheap but reliable.
