When queried, most investors will say their biggest risk with their investment property will revolve around the tenant. For example:
• Getting a tenant
• Making sure the tenant looks after the place
• What happens if the tenant does a runner?
The reality is all of these issues are covered by a good landlords insurance policy, which our clients generally take out.
But consider this:
Based on a 35 year old investor earning $80,000 per year – that’s $2.4 million in income to be generated to age 65. Its clearly the biggest asset you will have yet many people don’t consider insuring this.
Your income is the most crucial component of making your investment strategy work, so if you lose it due to injury or illness – what then?
Simple – if you aren’t covered, the whole strategy can fall over.
We’ve seen too many income horror stories bring clients undone over the years. If you don’t have sufficient income protection or life cover in place, call us today and we will get our Income Protection consultant to show you how affordable it is.
You’ve covered all your other assets with appropriate cover – don’t leave your biggest asset to chance.