Landlord Home & Landlord Protection

Landlord Home & Landlord Protection

Not all landlord insurances are the same so it pays to get the right advice for your residential investment property.

Do you know what is covered under your existing Landlords Insurance?

What part of your policy covers the ‘Landlord’ contents….and exactly what are landlords contents classed as? If you own a residential investment property there are a few variables that need considering when purchasing insurance. On the whole, most companies policy benefits are much the same as a normal home policy, however there are some key important inclusions that may be offered as an option for added protection for the owner. Many owners don’t realise that if a tenant decides to throw a huge party and there is damage to the property itself or if the tenant purposely damages the property, insurance will not cover the repair of the damaged property so what is left is the bond which invariably never enough to cover the cost of the damage.

Does your policy cover the default on rent payments by a tenant?

Another key factor is Rent Default which covers lost rent where the tenant simply doesn’t pay the rent and leaves – once again a small premium addition to the landlord insurance.
Other covers such as landlords contents, tenancy tribunal hearing cost, legal fees and even Meth clean up are included along with other rectification costs.

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If your investment property is an apartment, do you know what is covered under the Strata insurance on the unit block and what insurance do you need? Contact us to learn more.