Landlord Insurance

By Kate McLellan | 07-12-18

To maximize the protection afforded to you as an investor, you should have specialist Landlord and Building insurance.

This will protect you for rental income loss and also cover for accidental, malicious and pet damages at your property. Importantly, specialist cover should support the Residential Tenancies Act by recognizing fixed and periodic lease terms.

If you have insurance, please take the time to assess your benefits. Does your policy include:
•Rent loss cover – if so, for how many weeks and under which circumstances?
•Accidental AND malicious damage cover?
•Cover for damage caused by pets?
•Cover for the building and its contents? What amount of cover is provided? Are there any limits within these defined amounts?
•Legal liability cover?
•Low or NO excess on claims?

The type of cover you have, the limits on benefits and the excess charged for claims, all combine to make a policy great value.

The level of cover you need will depend on the type of property you own. You will need to determine if you require your own Building policy or if the Building is covered by an Owners Corporation.

If you need assistance in sourcing specialist Landlord AND/OR Building insurance, please speak to your property manager for further information.