The insurance gaps landlords don’t realise they have
Many first-time landlords mistakenly believe they are fully covered by standard home insurance when renting out their properties. However, this assumption can lead to significant financial risks due to gaps in coverage. It is crucial for landlords to consider specialized insurance to protect against various potential issues such as tenant defaults and property damage.
- ▪First-time landlords often assume their home insurance covers rental properties.
- ▪Standard home insurance may not cover rent defaults or tenant damage.
- ▪Loss of rental income is a common issue, ranking as the third most frequent landlord insurance claim.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.