Landlords Insurance

Building – this needs to be insured for full replacement value. Most policies cover the main dwelling plus any other domestic use garage, outbuildings, walls, gates, fences, driveways, verandas, patios, in-ground swimming pools and any landlords fixtures and fittings such as stoves, built in air conditioning, kitchens, etc.. It is vital to ensure that your sum insured covers the cost of the current rebuilding value, plus costs associated with removal and dumping of the damaged property and any other professional costs associated with rebuilding (such as architects, soil tests, application fees etc..)

Landlord’s Contents / Fixtures & Fittings – includes any household goods that you own such as carpets, curtains, internal blinds and any other furnishings that are not built-in.

Liability – covers you where you are found legally liable for loss or damage to someone else’s property, or death or physical injury. It does NOT cover other people who work in or on your property, such as cleaners, gardeners, builders or plumbers. These people should have their own business liability insurance policy to protect them for the injury or damage they may do to your tenant or your property.

Loss of Rent – allows you to claim for lost income as a result of the premises being uninhabitable following an insured event (eg: fire, storm, impact etc). Ask about the definition of uninhabitable when enquiring about this section of cover.

Rent Default, Damage or Theft caused by Tenants – allows you to claim for losses & expenses exceeding your bond, resulting from: your tenant leaving before the end of lease without giving notice, you having to legally evict your tenant , your tenant ceasing to pay rent owed, theft by a tenant or their visitors