Residential Landlord Insurance
If you have a residential investment property then this type of insurance cover is highly beneficial.
The cover will include damage to landlord’s contents, legal liability and loss of rent.
What is Residential Landlord Insurance?
It can take years to save up for an investment property. If the property is not new it can also cost a substantial amount to renovate it to get it ready to rent out. Unfortunately, your place can get damaged a lot quicker than it takes to build or repair. Unforeseen damage such as fire or storm, or accidental damage in the form of spillage and breakage or just general wear and tear. A tenant in your investment property is also unlikely to look after your property like you would. These are the reasons you should consider landlord insurance when you invest in property.
What does it cover?
The cover includes damage to a landlord’s property and contents, legal liability and potential loss of rent while the property is untenanted due to repairs or renovation.