I've had to make two claims on landlords insurance (for two different properties and reasons) and all I can say is - for not much over $200 a year, I've had it repaid in advance YEARS in advance with the claim payments I received.
The thing to remember is that you don't usually get paid out your claim until the circumstances are completed, so you may still need to cover a mortgage payment or two or three until the claim is settled.
Similarly I recently made a claim on
Landlord's insurance when tenant ran
taking dishwasher and dryer with him. LI
paid 10 weeks back rent, all damaged
contents and stolen contents. I think the
total claim was about $2,000. Premium is
about $290 p.a. But yes, getting it was
v-e-r-y s-l-o-w and I had to cover
mortgage payments and replace items
myself initially so I could rent it out quickly.
However, I don't think you should be