Do you have the correct or adequate insurance cover?
Insurance is all about the unforeseen events that can occur. As much as it is hard to watch the premiums rise again (thanks COVID-19 and the bushfires), we need to consider protection for situations we can’t control. The stuff we don’t expect like fire and storm damage, hidden shower leaks, non-payment of rent, accidental damage - the list is endless.
Also, we don’t want to have a disaster to occur, only to find out that we don’t have the correct or adequate insurance cover. Under insuring is also a problem, when the policy sum is far below what the actual property value is.
If you haven’t done this for a while, now might be a good time to consult with your insurer to ensure your landlord and building insurance is going to provide you with maximum protection. If you don’t have a Landlord Protection Policy, we strongly recommend that you consider one to protect your investment property from rental-specific losses such as accidental and deliberate damage by tenants and their guests, tenant theft and burglary and legal expenses and liability incurred as a landlord.
As much as we are all about prevention, sometimes it’s best to take the approach “expect the unexpected”. Landlord protection policies differ widely, but at First National Real Estate Burnie we can help find the right insurance policy for you.