The day you need landlord insurance is not the day to check your policy to see what it covers.
What Deb says
Although landlord insurance is not a legal requirement to leasing out your home, it is something we strongly recommend here at McGrath Coast and Hinterland. Although we're not here to offer insurance advice, I'm here to connect you with people who can give you the right advice. And it's important that you check the policies to ensure that you're receiving the right amount of cover.
The biggest claim I've seen in the last 10 years related to a fire that happened because of a snake and its heat lamp. The heat lamp caught on fire and caused the kitchen in the home to burn. The building insurance stepped in and covered the rebuild of the kitchen. But unfortunately the home was not livable during the rebuild, so those tenants had to move on. The landlord insurance stepped in and enabled the rent to be covered while the kitchen was being rebuilt.
An experienced property management team will help guide you through any landlord insurance questions, so feel free to reach out at any time to discuss these.
