Insurance every real estate investor needs.
First, you’ll need the same basic protections as with standard landlord insurance. These include coverage options such as personal liability and property damage, plus optional extras that are well worth considering, such as insurance against lost rent while a property is being repaired.
Vacant properties need coverage too.
Next, you’ll need to check how your policy deals with periods when properties are vacant. Some risks are higher during this time, such as those associated with a burst pipe or a fire. If nobody’s living at the property, these disasters might not be discovered until the damage is severe.
Improving your property? It still needs to be covered.
If you are doing improvement work on a property, such as a renovation or extension, you may need builders risk and installation insurance. This may help cover liability for injuries to construction workers and protect against damage to property, such as vandalism or severe weather while the property is still under construction and more exposed.
Are you interested in real estate investor insurance? Contact us to go over your business needs and coverage options.