Melton Whilst your tenants should have insurance for their possessions within their home, this will not cover your finances if there are damages caused to the property itself. Landlord insurance covers a property against any damages caused by fires, floods and other natural disasters. Furthermore, some insurance policies will cover loss of rent or any damages caused by tenants.
It’s important to thoroughly research different policies, to understand which will be the most suitable for your needs. For instance, if loss of rent from the property will cause you to be out of pocket, it’s important to pay for a policy that covers these finances. If a few weeks of missed rent will not cause strain on your bank account, it may be a good idea to pay for a policy that is more focused on accidental or malicious damages caused.
For our landlords at Professionals Ryder Real Estate, we recommend AON Insurance for their landlord policies. For more information on AON Insurance, visit the link below:
https://business-insurance.aon.com.au/professions/real-estate/landlord-insurance
Here at Professionals Ryder Real Estate, we are dedicated to ensuring that you are covered for any expenses that may leave you out of pocket. For any advice or tips, contact the most experienced real estate in Melton, on 9743 6400.
