Incidents occur daily across Australia, making it essential to properly protect your valuable asset. Landlord insurance is available to cover theft, malicious damage, or vandalism caused by tenants, and can also include optional coverage for loss of rent.
Building Cover
Most policies protect not only the main residence but also garages, outbuildings, walls, gates, fences, driveways, verandas, patios, in-ground pools, and landlord fixtures and fittings such as stoves, built-in air conditioning, and kitchens. Make sure your sum insured reflects the current rebuilding cost, including expenses for debris removal and any professional fees related to reconstruction.
Contents Cover
This covers the replacement of items like furniture, carpets, curtains, and internal blinds. Be aware that the definition of "contents" can vary between policies, and certain items may be included under either the building or contents section.
Tenant-Caused Damage or Theft
Provides protection for loss or damage to the building and/or contents resulting from deliberate or intentional acts by tenants, including theft, malicious damage, or vandalism.
Rent Default
If a tenant breaches their lease, abandons the property in an uninhabitable state, or is legally evicted, this extension can provide coverage for lost rental income.
Loss of Rent
If your insured property is rendered uninhabitable due to events like fire or storm, this coverage will pay the insured weekly rent amount while repairs are made.
Legal Liability
This protects you if someone is injured or their property is damaged while on your premises. However, it does not extend to people working on your property, such as cleaners, gardeners, builders, or plumbers.
Protect your investment with comprehensive landlord insurance tailored to your needs.