Due to the recent bushfire and flooding events in our area, we strongly recommend that all owners take out landlord insurance to protect their investment property.
Landlord insurance is a type of policy that covers investment property owners for a variety of risks, including loss or damage caused by tenants. The types of events that a landlord insurance policy will cover may include:
• Theft or burglary by tenants, their guests or other burglars
• Malicious damage or vandalism by tenants or their guests
• Loss of rent due to tenant default or breaking of the lease
• Legal expenses required to evict a tenant
Landlord insurance may also cover damage caused by disasters such as storms, floods and fires, and potentially any loss of rent if your property becomes unliveable after an insured event.
There are a few items to check when purchasing landlord insurance – such as the terms and conditions of any policy you’re considering, what it does and doesn’t cover, and the excess that applies if you make a claim. These elements may vary from policy to policy, so shopping around and reading the product disclosure statements (PDS) is a good idea.
Below are several companies that specialise in Landlord Insurance:
Honan Insurance Group
02 9299 0767
1800 804 016
1300 406 877
If you already have Landlord Insurance can you please send us a copy of your current insurance policy for our file.