WATCH: Feb. 25, 2022 Whitsunday Weekly E-News
Hi, I’m Annette Neil, with this week's update.
I want to talk about something important. What could I be talking about? Well, of course, I'm talking about insurance in particular.
I wanted to talk this week about landlord insurance and how important it is for you as an investor.
Insurance generally is always a hot topic, particularly here in north Queensland with the high cost of building insurance and strata after catastrophic sorts of tropical cyclone events and those types of things that do happen.
We also see it down in victoria after fires anywhere that a natural event has occurred, which has caused a high amount of claims.
There are times that premiums go up, and it's always a hot topic down at the local pub and any other place that you happen to talk to somebody.
So landlord insurance. What is it? Why is it important? Why should you have it?
Well, to start with, it's very low-cost insurance, as a matter of fact.
Sometimes it's only a few hundred dollars. Why wouldn't you have it to give you peace of mind?
As an investor, it will cover you for things such as loss of rent. It will also protect you if a tenant was to go into arrears and if there are reasons why they're not vacating your property.
What happens if your property becomes damaged due to the tenant and is unlettable for a period? You're covered for loss of rent through that period. You're covered under malicious damages that are made to the property.
Also, perhaps the tenant leaves a tap on or something like that that causes a bit of a flood. Well, you're covered for accidental damages.
Why wouldn't you have landlord insurance for a few hundred dollars a year?
now our preferred insurer here at PRD is Terri Scheer (https://www.terrischeer.com.au/)
We do a lot of work with them because of how efficient and effective they are, and we know
what they cover and what they don't.
Please, if you've ever thought about it, give us a call. Find out why landlord insurance is essential, and we can point you in the right direction.
