Latest / Efficiency & Property Investing
Have You Got The Right Insurance?
Nick challenges property investors to rethink their standard landlord building insurance when undertaking a renovation project.
He details the strict unoccupied rules that come with standard policies—often invalidating coverage if a property sits empty for more than 30 or 60 days—and warns that insurers may strip standard coverage down to minimal "FLE" (Fire, Lightning, Explosion, and Earthquake) risks once a renovation is declared.
4 Key Takeaways
Standard landlord insurance is usually unsuitable for vacant renovation properties because it typically carries a strict 30-to-60-day occupancy…
The skinny
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