One of the biggest drains on cash flow tends to be the insurance premium associated with an investment property. When searching for cash flowing properties, a reputable turn-key group will provide a pro-forma with an estimated insurance rate.
Being the savvy investor you are, you most likely contact your insurance provider and try to match up the prices to get a more accurate cash flow / ROI. But how often have you reviewed the amenities of a property and discussed discounts with your insurance provider based on items like security alarms, smoke detectors, etc. ?
So what if you discover no savings? It's a no brainer that spending a little short term for long term savings makes solid financial sense. So work with your insurance provider and see if adding a few inexpensive items is justifiable for the savings you gain.
The article below can get you going in the right direction - it relates to rental insurance but the principles are applicable to any property related insurance:
10 Safety Devices That Could Lower Your Insurance Premiums
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