You may be familiar with different types of insurance available for an array of different property types, but as a property investor, should I get landlord insurance? but should you actually get it for your investment property? The most common answer is yes, however, the reason why varies from person to person and property by property.
What Landlord Insurance Covers:
Insurance policies typically cover property damage and rental loss, and in most cases, they will pay for loss of rent or Landlord liability claims. Landlord Insurance does vary depending on the Landlord Insurance company you go with.
Landlords insurance can be fairly expensive, unlike Homeowner insurance, depending on the level of Landlord Insurance needed. Landlord Insurance can cost between $300-$2000 annually, so Landlords make sure to get insurance quotes for Landlords’ policies before they decide to purchase Landlord Insurance.
All of Locate Property’s clients have a certain level of cover when they come on board.
The companies that we have had the best experience with are as follows:
So to conclude as a property investor, should I get landlord insurance? The obvious answer is yes.
Locate Property writes about a lot of Real Estate topics, view their BLOG HERE
Disclaimer: The above article should be seen as a guide only. It is highly recommended you do your own research before deciding on your Landlord Insurance company.
