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Landlords Insurance

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vegassellsvegas | 03 Dec 2014, 03:50 PM Agree 0
One of the least mentioned issues in owning rental properties is the "Landlords Insurance Policy". When you need it is not the time to read it! Read your policy and declarations as soon as possible, don't wait until you have a claim to find out it's not covered. For instance in the US Allstate does not cover mold or water damage from slow leaks. Regular inspections are the key to not having claims or uninsured loses.
  • | 11 Dec 2014, 01:00 PM Agree 0
    yes you must know what covers

    and also remember it's always accidental damage that covers not failed maintenance
  • Freedom Malhotra, Condo Planet | 17 Dec 2014, 08:38 PM Agree 0
    I agree. It is tedious to review your insurance policies but very necessary. I was recently surprised to learn that State Farm does not cover damage due to sewer back up on all its residential investment policies. This concerns me. Sewer back up is very common and a major cause of claims. And one of the most popular Canadian Insurance companies does not insure against this loss for investors. After learning this, I have decided to re-evaluate all my insurance policies this month and see if I can find a better provider to meet my needs.
  • Hans | 19 Dec 2014, 06:08 AM Agree 0
    I recently discovered that I was not covered for municipal bylaw changes in their building code to rebuild a garage that burned down at one of my rented properties . Now I must pay out of pocket to update the previous foundation to meet new codes before a new garage can be built there so check your policies for that coverage !
  • alexiscooper5 | 26 Dec 2014, 04:33 AM Agree 0
    Your landlord insurance can help protect you from many problems that you could encounter. However, there are a few additional policies you might want to consider. These policies can help protect against major issues that can threaten the property you own and your financial assets.
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