Should landlords get home and contents insurance

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  • 17/04/2018 at 11:49 am #11684 Reply | Quote
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    Flatchatter

      I have purchased an investment property and wondering should I take out Contents Insurance even though the property is rented?  It is a duplex so already pay Strata Levies.  

       

      The reason these thoughts came to my mind and questioning taking out Contents Insurance by Owner of Investment Property was that in the past few weeks, coincidently, 2 sets of friends of mine have had burst water pipes within their OWN properties – flooding everywhere – so that got me thinking about what if that happened in a Rental Property – with ‘contents’ belonging to the Renters?? 

       

      Would Strata Insurance cover such an incident? However, I have been led to believe that Strata Insurance is only for ‘outside’ damage and Contents Insurance basically means ‘turning your property upside down and whatever falls out is covered’!!!!

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    Reply To: Reply #29590 in Should landlords get home and contents insurance
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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