One of the most important decisions a landlord will ever make is to take out landlords’ insurance.
It provides them peace of mind that they are covered for damage and loss of rent that could be caused by tenants.
Landlords invariably rely on the rental income to service the debt associated with purchasing the rental property for living expenses in the case of retirees.
In these circumstances also having to meet the costs of repairs for damage caused by a tenant can be very difficult.
There are inherent risks attaching to investing in a residential rental property.
This risk can in large part be addressed with landlords’ insurance, to protect all parties.
Landlords’ insurance shouldn’t be optional.