If you own a home or unit and rent it out for another income, then it is very important that ensure you are covered by building and contents insurance to save you money for water or fire damage restoration. Click through to find out more now!
One of the specialties that PHJ Services offer is Water Damage Restoration.
Accordingly we align with insurance companies and insurance brokers. I can’t emphasize enough the importance for all building and owners to a have Building and Contents Insurance.
We strike a lot of people who buy a unit for an investment, and because a body corporate insures the building and the tenant owns their own furniture, they think they don’t have any contents to insure. But if they have a fire, or water damage, they can lose or require repairs for carpet, curtains, fittings and other things that are not part of the building. This can seriously leave you out of pocket, for something they didn’t cause.
A classic example would be a building which we had to dry recently where a sprinkler went off on the eighth floor and flooded every unit below it. On that occasion that meant that 16 to 19 units were involved , so there were 16 to 19 different insurance claims, as well as the building claims. None of them were owner occupied, they were all tenanted. So if there were some that were uninsured, they would be left with the cost of restoring their carpets and fittings.
So insurance does pay an important part of owning a building. If you own a building, can you really afford to not be insured?