{"id":1301,"date":"2022-11-23T22:45:09","date_gmt":"2022-11-23T22:45:09","guid":{"rendered":"https:\/\/reval.com.au\/blog\/?p=1301"},"modified":"2022-11-23T23:42:13","modified_gmt":"2022-11-23T23:42:13","slug":"landlord-insurance-why-need-it","status":"publish","type":"post","link":"https:\/\/reval.com.au\/blog\/landlord-insurance-why-need-it\/","title":{"rendered":"Landlord Insurance: How Protected is YOUR Property?"},"content":{"rendered":"

There seems to be insurance for almost everything these days (e.g. cars, pets, house, income, travel, etc.).\u00a0 Many Australian households take out cover to insure their assets and income, but drop the ball when it comes to insuring their houses. In fact, many Property Owners will lease their investment Property without the protection of Landlord insurance.<\/span><\/p>\n

You\u2019re probably thinking that you\u2019ve spent enough on the property already without adding insurance costs on top right?<\/span><\/p>\n

Isn\u2019t this why you have a Property Manager?<\/span><\/p>\n

Do you really have to get Landlord Insurance and is it really worth it?<\/span><\/p>\n

\"landlord<\/p>\n

While there is no legal requirement to have landlord insurance in place, ask yourself; Can you sleep well at night knowing that the Investment you have worked hard for isn\u2019t protected and if anything happens that you might not be covered?<\/span><\/p>\n

We\u2019ve all heard horror stories about trashed properties, unpaid rent, drug labs, flooding and house fires before. This is an upsetting experience for Investors who <\/span>are <\/i><\/b>insured so you can only imagine the stress levels if that happened at an <\/span>uninsured <\/i><\/b>property.<\/span><\/p>\n

While your Property Manager can undertake a thorough checking process to help secure great Tenants, there are some factors that just cannot be predicted; such as sickness, unemployment and divorce. Any of these could turn a great Tenant into one who no longer pays the rent on time or at all. Not to mention, if your rental income does get interrupted, the mortgage repayments and other bills related to the property will still need to be paid, leaving you out of pocket.<\/span><\/p>\n

Insurance provides protection on your investment.<\/span><\/p>\n

\"landlord<\/h3>\n

What does Landlord Insurance cover?<\/span><\/h3>\n

While different landlord insurance policies can vary, there are a number of standard inclusions and optional extras. This may cover some or all of the following:<\/span><\/p>\n

Tenancy Cover<\/span><\/h3>\n