Benefits of Landlord Insurance

Protect Yourself From Unwanted Surprises

So you have a property to loan. It doesn’t matter if you bought it, inherited it or transformed your home for that purpose. It’s there, furnished in mint condition with everything set up just waiting for the potential tenants. Everything for the start of your business as a landlord seems ready, except one. The landlord insurance.

Even if you have done the perfect background check on the tenants, even if they’re perfect, everything can happen. You need that insurance. It’s that monthly fee that will take care for your good night sleep. After all you have made a very large investment and to get your money back you will need everything to be okay. The main reason why everybody is insuring their properties is simple. You need that property protected by any means form natural disasters to sloppy tenants. But the landlord insurance has several more features. And the main one is that you will always receive your rent. In a case where the occupants instantly decide not to pay and somehow manage to brake the deal with you, the loses you may gain will be directly covered by your insurance policy. Let’s say that something is broken. Not a big deal for you. You can get your money and replace it in no time. And if the damages are so severe, that the property becomes unable to live in during repairs, the insurance steps in again covering the lost rent for the time being. And of course it gets even better if you have several properties. You get discounted rates and you can link the insurance with your property management software so that everything can be connected and dealt with in the fastest manner. With the software even the tenants can contact the insurance company if something went wrong, and you’ll just get notified while everything is getting set back to normal.

Benefits:

  • You keep your property in the way it should be
  • You always receive your rent

In Conclusion

With those two main requirements achieved there’s not much really to go wrong. And ultimately compared to the money you have spent for the entire preparation of your property, a small monthly fee seems like a bargain to protect it all.


January 11, 2013 | Author: | Posted in Software

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Comments (1)

  1. mick1964

    Landlords insurance is a great thing to have. I may be a little more expensive but you are covered for any damage tennants may cause.
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    Bargain Electricals

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