Landlord Insurance – 2015 Star Ratings
IN THIS REPORT
Making the transition from property owner to landlord is an exciting time for most. Building up an investment portfolio that, hopefully, will grow in value and provide a regular income stream in the meantime is a great achievement. You are now one big step ahead in taking control of your financial future.An important part of the process is protecting your investment. This is where landlord insurance comes in. It is a specialised insurance tailored to cover the events a landlord can experience. It covers things like accidental, deliberate or malicious damage to your property and furnishings, rent default, theft by a tenant or their guests, personal liability and legal expenses.
Most tenants are good and will treat your property as if it were their own. However, having the right landlord insurance in place gives you the peace of mind of knowing your property is protected should you strike one of those “bad apples” we see in the media – operating a drug lab on your premises, housing 15 dogs in a pet-free unit or leaving your property in absolute squalor.
The three key actions to living a happy life as a landlord are undertaking rigorous due diligence on prospective tenants, conducting regular property inspections and having a watertight landlord insurance policy in place.
To help you find those policies that offer outstanding value across Australia, our research team has compared 41 policies and 2,663 quotes across individual houses and strata dwellings. We have, once again, separated North Queensland into its own region, as it is treated very differently by insurers, thanks to cyclones and floods prevalent in the area. Including land north of the Tropic of Capricorn would be a disservice to the rest of the sunshine state and would skew the results unfairly.
We are confident our research will help you make a shortlist of landlord insurance products you may want to follow up on.