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.
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.
Insurance can vary significantly in cost, unlike homeowner insurance, depending on the level of landlord insurance needed. Landlord insurance can cost between $300 and $2,000 annually, so landlords make sure to get insurance quotes for their’ policies before they decide to purchase them.
All of Locate Property’s clients have a certain level of cover when they come on board. Our Insurance Providers of choice based at the time of publishing this article are
The companies that we have had the best experience with are as follows:
So, to conclude, as a property investor, should I go the extra mile and get extra coverage on top of my regular insurance? The obvious answer is yes.
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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.