Landlord insurance is one of the most important purchases a property investor can make. For an outlay of a few hundred dollars a year, you can be covered for not only damage to buildings and contents, but also for rental default and damage by tenants. As a landlord, you may try your hardest to only rent a home to trustworthy and responsible tenants, but sometimes accidents happen regardless of precautions taken to avoid them. Because of the inevitability of accidents, landlord insurance is of utmost importance to acquire before renting out your home. Accidents such as house fires, leaking roofs, deteriorating exteriors and so forth can affect any home at any given time. From minor to major accidents, proper landlord insurance with the right coverage for your property is the only solution to ensure you do not get left with an expensive repair bill.
The two main landlord insurance companies that we prefer our landlords to be associated with include Terri Scheer Landlord Insurance and Honan Insurance Brokers.
Terri Scheer Landlord Insurance:
Protection and peace of mind for owners of investment properties. Terri Scheer landlord insurance products can protect you from risks caused by tenants that standard building, home and contents insurance may not cover. Best of all, Terri Scheer helps ensure that you are not out of pocket if tenants default on the rent, or cause damage to your rental property and contents.
Terri Scheer policies can protect you against:
- Accidental damage to your building and contents caused by tenants.
- Malicious damage to your building and contents caused by tenants.
- Theft of building and contents items by your tenant.
- Damage to contents from events including flood, storm and water damage.
- Damage caused by pets.
Terri Scheer can protect landlords from loss of rent due to:
- Absconding tenants.
- Evicted tenants.
- Property become untenantable due to an insured event.
- Prevention of access.
Honan Insurance Brokers:
Honan Insurance Brokers have over 20 years experience in the development of Landlord Insurance packages. They have specifically designed a policy to meet the needs of the modern day landlord at a competitve price. As a landlord, there are some risks that are beyond your control and unforeseen circumstances that may cause damage to your property. Your rental property may be one of the largest investments of your lifetime. This product has been specifically designed to cover residential rental properties including holiday rentals. Enjoy peace of mind knowing that you have adequate insurance to protect you.
Honan Insurance policies can protect you against:
- Landlord's contents.
- Damage by tenant.
- Rent default.
- Loss of rent.
- Public liability.
- Landlord's legal expenses.