Just as the year begins, storm season is also starting, with wild climate affecting Brisbane. Here are five things you have to do to set up your investment properties and be ready for the savage weather ahead.
Storm cells can be exceptionally unstable and can bring about strong winds, lightning strikes and flash floods. Such ferocious weather can bring about real harm to your investment property so it is vital to buckle up and be prepared for the worst.
Before anything else, make sure that the insurance policy is updated and it sufficiently takes care of the expense of any potential damages.
Property owners usually think that their investment properties are guaranteed against storm damage. In any case, it’s essential to peruse the policy’s fine print. With regard to guaranteeing properties against storm damage, it is critical to consider specific conditions to decide on the level of insurance required.
On the off chance that an investment property is administered by a body corporate, it’s imaginable that strata insurance is packaged alongside building insurance as a part of the body corporate charges.
Strata insurance mostly covers the structure and common areas of your apartment building. In any case, strata insurance does not cover individual assets that are inside a unit, so it is important to investigate contents of the insurance.
On the off chance that you are uncertain about what your insurance policy covers or if it is progressive, reach out to your insurance provider before the storm season hits.
Here are a few tips:
#1 Check the coverage of your insurance policy and make sure that it is up-to-date.
#2 If there is anything that might cause potential harm to the property such as a hanging tree branch, notify the body corporate.
#3 Inform the body corporate about the damages in property as well as the damage in the common areas of the premise.
#4 Secure the property – make sure that objects like outdoor furniture and pots on the balcony are secured to prevent them from being blown away.
#5 Ask you local council for more information and advice.
