HOME  -    PROPERTY ADS   -   DISCUSSION FORUM   -   REALTORS   -   LINKS    -   CONTACT US



Realtors and Real Estate Agents - Sign Up for Free Account at Property.net.my >>


Malaysia Real Estate
Malaysia Real Estate Portal
 
 FAQFAQ   SearchSearch   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Insurance of Landlord Property

 
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Insurance
View previous topic :: View next topic  
Author Message
Felix07Richerd



Joined: 04 Aug 2010
Posts: 110
Location: Canada

PostPosted: Wed Feb 23, 2011 6:59 pm    Post subject: Insurance of Landlord Property Reply with quote

The insurance the landlord or property only covers the cost of fixing any damages the building itself may incur. This means that the building insurance does not in any way cover the costs of personal property owned by tenants.

The second misconception, that insurance is a waste of money, is untrue for a number of reasons. The first being that many property management groups will not rent to someone without renters insurance. This is because they want to ensure their tenants are protected in case any sort of damages where to occur. This means that in many cases, in order to rent an apartment, you need to have proof of having renters insurance.

The other, more obvious reason renterís insurance isnít a waste of money is due to the fact that it is there to protect your personal finances in case your property is damaged. Though you may think that your stuff isnít very expensive which makes it not worth paying for renters insurance, this may not be an inaccurate understanding of the situation. Renters insurance does not just cover the few expensive items you own, it covers everything you own. If there is a circumstance that damages your property, the total cost of replacing items you once owned will likely be far above that of a monthly insurance payment. Think about how much it would cost to replace all of your clothes, furniture, electronics, kitchenware, and anything else you might own. Being insured protects you from the possibility of having to purchase everything you used to own with money from your own pocket.

If you currently drive a car which is insured, you can usually add renters insurance through the same company at a nominal fee. Other sources of renters insurance can purchased through many of the main banks. Renterís insurance is key to ensuring financial safety, that in itself makes renterís insurance worth every penny.
Back to top
View user's profile
Display posts from previous:   
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Insurance All times are GMT + 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



This is a free forum intended to foster communication between all users.
Hileytech Sdn Bhd does not guarantee the correctness or validity of postings, nor does Hileytech endorse any postings. No posting or contents in this forum can be copied and reproduced without prior permission from Hileytech and the owner of the posting. All other names and marks are trade names, trademarks or registered trademarks of their respective owners.
Powered by phpBB, Another web site by www.hileytech.com,Forum Archive
Tel : +603-89449965, +603.89449365 ::  Fax : +603-89440665 :: hiley@hileytech.com