Adelaide has its fair share of natural disasters. From "earthquakes" and burst mains, to tornadoes and bush-fires.
And bad tenants can be their own kind of natural disaster.
So getting insurance for your investment is something you want to think about.
Ensuring that you have the right level of investment protection should be part of your investment plan.
If you're renting to tenants, then you will need landlord insurance. For a few hundred dollars a year you are protecting yourself from potentially thousands of dollars of damage.
So what is Landlord insurance?
Landlord insurance helps prevent loss that other types of insurance don't cover.
This can include things like:
If you're using places like Airbnb to lease to short-term tenants, then you'll need to find policies that specifically cover you for that. There are different issues associated with these types of tenants, so you'll need to ensure the insurance protects you adequately.
While Landlord Insurance gives you protection from what's inside your home, Home Insurance will give you some relief from what's outside.
Like we mentioned earlier, Adelaide (and all of Australia) is home to a variety of natural threats.
Protecting your investments from seasonal disasters like these should be something you've factored into your investment strategy.
Because not doing so could send that strategy up in flames.
Insurance isn't the most exciting topic but it's a necessary part of any investment plan.
You don't want to be one of those investors who lose out because they've not adequately protected themselves.
So if you're yet to figure out all the details of your investment strategy, get in touch. We'll help you put together a plan that lets you invest with confidence.
Threats to your investment come from within, and from without. So it’s important to protect your investment with insurance.