Sell with Confidence
Read More
Property Investment

Do I need landlords insurance?

Yes, the short answer is most definitely YES!

We all want to assume that we will never in fact require insurance for our investment property, however it’s something we really focus on here at Ray White Dubbo to ensure our Landlords are aware that even the best tenant can endure personal hardship at times and that could result in you, the homeowner being out of pocket. One of the main reasons you want to have landlord insurance is to protect yourself if (and hopefully in the unlikely situation) the property is vandalised or the tenant leaves without paying their full rent.

The main features of good landlord insurance should cover the following:

A loss of rental income
This might include a tenant defaulting on their rent, hardship, a tenant whom vacates without appropriate notice and tenant/s that vacates without paying full rent amount.

Contents
Whilst full contents insurance is something the tenant themselves should consider, Landlord insurance will cover your furnishings such as curtains, carpets, blinds and light fittings. This items are covered when accidental or deliberate damage occurs, malicious damage, water, flood or storm water and fire and explosions.

Building
The building itself will be covered under insurance for accidental loss or damage, pet damage, scorching, theft and deliberate damage.

We strongly advise you consider looking for insurance that covers not just loss of rent but also natural disasters, as has been seen within Australia over the last few years there have been some flooding and natural disasters that have left many investors out of pocket.