Insurance
Protecting Yourself and Your Wealth
Building your wealth takes time and persistence.
Protecting your wealth takes very little time – but is often overlooked by busy people.
As experienced property investors, we strongly recommend that you incorporate insurance into your overall investment plan as a safeguard against the unplanned and unwanted.
Protecting your wealth-building business has three main aspects:

Protecting your Properties

Building Insurance:

covers your building for damage caused by a variety of defined events. Strata-titled properties usually take out cover through the Owner’s Corporation or Body Corporate. Freehold titles will require the owner to take out cover.

If you have a loan secured by your investment property, your lender will require that you have building insurance.

Landlord Insurance:

protects you against unexpected costs, such as malicious damage by tenants or their visitors, unpaid rent from absconding tenants, damage to landlord fixtures through fire, flood or storm, and public liability insurance. As a Property Club member you can take advantage of the Property Club Insurance Package.

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Protecting your Earning Potential

Income Protection Insurance:

An important aspect of owning investment property is your personal income and tax deductions. If you’re suddenly unable to work, the cost to hold your property could become a burden.

If your earning capacity is important to building and holding your property portfolio, then we’d strongly suggest you take out Income Protection cover. Most income protection policies will replace up to 75% of your normal wage after a waiting period.

It’s a tax-deductible insurance and is a small price to pay for your peace of mind.

Trauma Insurance:

Similar to Income Protection in that it covers you for unexpected health issues, Trauma insurance is usually a lump sum payment for defined health problems that prevent you from working.

Protecting your Life

Life Insurance:

Protecting your assets after you’re gone will be important to your family. Adequate life insurance could mean the difference between keeping your properties or liquidating them to repay debt.

By reassessing your life insurance needs in concert with your growing assets (and debt levels), you can feel comfortable knowing your family will still reap the rewards of your property investment.

Permanent Disability (TPD):

If you suffer a major health issue that leaves you permanently disabled and unable to work, this type of insurance will assist you financially while your property portfolio is still growing.

Top Ten Traps for Unwary Property Investors
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