Hello
We’re just embarking on our first investment property purchase and are in the process of finalising mortgages etc. Can anyone offer advice on the types of insurance required/desirable other than straight out building insurance. We’ve heard a little about Landlord insurance, but are unsure about the merits etc.
Any insight would be appreciated.
Thankslandlords insurance covers
Negligent damage to property ( the tenant bond doesn't cover all the damage)
loss of rent if property damaged and can't be rented.
public liability insurance usually up to 10 million dollars.
(in some states like Victoria (the nanny state) if you hire a trades person and they get injured on your property they can sue you )see
http://www.allianz.com.au/allianz/Landlord+Insurance.html
as an example of what is covered not a recommendation as flood is not covered or carpets in this particular policy.
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