Weekly Property Investor Top Tips

Tip # 1

Introduction- Top Tips on Avoiding Landlord Insurance Pitfalls

Landlord insurance is vital for every property investor.Just like building insurance covers you for the unexpected, landlord insurance also covers you against unexpected loss like rent default and malicious damage. However not every landlord insurance policy available performs the same way and in fact there can be several pitfalls you need to be aware of. In the next few weeks we will reveal to you what pitfalls you can avoid.

Tip No: 1

Building Insurance is not Landlord Insurance!  Some investors believe that building insurance also includes landlord insurance. Standard building insurance will cover you for fire and storm damage etc, however will not cover you for losses relating to a tenancy like rent default and malicious damage caused by the tenant. Comprehensive landlord insurance must be implemented separately to ensure you are covered for tenancy related risks. 

Watch out for Tip No: 2 next Tuesday or alternatively email joe@doylespillane.com.au if you would like further information on this topic or any other questions you may have on managing your investment.