Why Having the RIGHT Landlords Insurance Will Save You Thousands

hey guys Elley from Excellence Property management here so today I just wanted to give you a bit of Education about landlords insurance and how as an owner having the right landlords insurance in place can save you thousands of dollars so firstly landlords insurance is not home and contents insurance landlords insurances are specialized insurance that covers you as an investor and an owner against things that your tenant can and may do with landlords insurance it's really important to understand that even with a good tenant in place who's been well selected things can go wrong for example if your tenant lost their job they would lose the capacity to be able to pay their rent meaning leaving you out of pocket without any rent so what landlords insurance should cover you for is firstly and the main one is loss of rental income for example your tenant leaves and you have got that period in between and finding a new tenant landlords insurance can actually cover the lost rent during that period the second thing is contents insurance and that's coverage for our items in the property that you may forget about like curtains, carpets, blinds, that kind of thing and if your tenant does any damage to them or so on and the third one is protecting your building against anything that the tenant does or anyone who the tenant invites to the property so there are a lot of banks and also insurance agencies out there offering what they call "landlords insurance" but a lot of times people don't know what they're looking for and especially as an owner if you've never made a claim what you can find is that in a lot of policies there are a lot of clauses in place that will actually limit the amount that you can claim or in some cases can prevent you from making a claim whatsoever we only recommend Terry Scheer as I preferred landlords insurance and that's just from experience we've found that they've been I wish to give our owners the best level of cover guys if you want some more information and you want a little bit more detail please check out the blog below if you like our information and you want to know more from us please don't hesitate to give us a call or shoot us an email hear from you and everyone don't forget if you've got a friend or family member that needs a good property manager refer them through to Excellence Property Management if they do become a client of ours we will give you $200 cash thanks very much guys I'll see you next time

Source: Youtube

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