what should i cover for insurance? up to how much in $ terms should i cover?
do any of you know good insurance companies for Property Investors in Victoria?
What’s your niche Fullout? Buy & hold? Wraps?
Quasimodo [^]
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It seems to me that action has a most magic way of answering all the questions our fearful mind tries to throw before us…
__________________________________________________hi, i am buying this one as Positive Cashflow, also for Capital Gains (cos the area i am buying has surprisingly high growth 27% last year!).
I am planning to buy a few more positive cash flow later this year, and then a Negative Gearing.
Pls tell me more info about the insurance pls
Hey Fullout,
The simple rule for me is you should insure what you are worried about.
For property insurance then I will insure for replacement cost and site clearance costs to enable the replacemnt.
In the case of Landlords insurance many people choose to take this because it protects their property from a malicious tenant. The trick with Landlords is to know just what the policy covers. There seems to be a wide variance in what is covered and varying prices to boot.
On the flip side if you as the owner are involved with the tenant screening process there may be strong grounds to not bother with Landlords. It really is a personal choice.The big thing though is to remember to never have a property uninsured. That is a very dangerous thing if something goes wrong. Also consider how much public liability is included in the policy as we live in a sad time where people sue before saying hello.
hope this helps.
Enjoy
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(Andrew)“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein
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