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From: Mike .
Insurance For IP
From: Richard
Date: 7/11/00
Time: 9:09:30 PM
Dear all forum contributors, my 1st IP will be completely built in two weeks. I need some help in deciding what insurance I will need to protect it / myself.
1. Building insurance is obviously essential but I am not clear if I also need contents cover (the home is not strata, unfurnished but has carpet, blinds, fixed appliances etc). One policy I read states that their building insurance covers internal "fixtures and fittings". I am somewhat confused!
2. Rental income and landlord protection insurance. From policies I have seen thus far this covers loss of rent through:
a. insured damage making property untenantable / unaccessible.
b. tenant breaking a lease, defaulting, departs without notice.
The policies also cover malicious damage to the property or theft of fittings by a tenant.
Is there cover available should the lease end in due course and a tenant is not found for say two months? I assume (if such cover is offered) that it would be expensive or contain many caveats?
Have any investors out there had to make a claim on their IP insurance and been particularly satisfied with the insurer?
Any experiences / suggestions would be much appreciated.
Many thanks
Insurance For IP
From: Richard
Date: 7/11/00
Time: 9:09:30 PM
Dear all forum contributors, my 1st IP will be completely built in two weeks. I need some help in deciding what insurance I will need to protect it / myself.
1. Building insurance is obviously essential but I am not clear if I also need contents cover (the home is not strata, unfurnished but has carpet, blinds, fixed appliances etc). One policy I read states that their building insurance covers internal "fixtures and fittings". I am somewhat confused!
2. Rental income and landlord protection insurance. From policies I have seen thus far this covers loss of rent through:
a. insured damage making property untenantable / unaccessible.
b. tenant breaking a lease, defaulting, departs without notice.
The policies also cover malicious damage to the property or theft of fittings by a tenant.
Is there cover available should the lease end in due course and a tenant is not found for say two months? I assume (if such cover is offered) that it would be expensive or contain many caveats?
Have any investors out there had to make a claim on their IP insurance and been particularly satisfied with the insurer?
Any experiences / suggestions would be much appreciated.
Many thanks
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