Landlords Insurance
- Thread starter melzinoz
- Start date
It's one of those things that when it does nothing, you wonder why you bothered, but when **** hits the fan, you kiss the ground in thanks to your foresight.
Think of it as the cost of doing business.
Note: Don't go for the cheap insurances, cause they aren't worth the paper they are written on. Pay the price for insurance that will actually pull through when you need it.
*I regularly have tenants not pay rent for weeks, as do most people here I imagine, I haven't yet used my insurance though, but it helps me sleep at night*.
The 2 biggest risks associated with Property Investment are Economic exposure & Tenant related risks.
Fixing rates reduces the first one and Insurance in particular Landlord Insurance minimises your tenant related issues.
Property investment is a business and LL insurance is just a cost of doing business.
IMHO it is a necessity if you are a serious investor.
I have been actively investing for the past 13 years and over that time have made 2 claims.
Its not a high cost expense either. For the sake of less than a weeks rent, that's also tax deductible, it provides fantastic peace of mind and is money well spent.
Fixing rates reduces the first one and Insurance in particular Landlord Insurance minimises your tenant related issues.
Property investment is a business and LL insurance is just a cost of doing business.
IMHO it is a necessity if you are a serious investor.
I have been actively investing for the past 13 years and over that time have made 2 claims.
Its not a high cost expense either. For the sake of less than a weeks rent, that's also tax deductible, it provides fantastic peace of mind and is money well spent.
The best in the industry (correct me if i'm wrong peeps) are EBM or Terry Scheer. Honan seems to be making a name for themselves recently.
I use neither, though will switch over shortly. There are a couple of threads comparing these two on this forum.
