Protecting your rental property
Did you know that over 2.6 million Australians own an investment property? Like a home insurance policy, landlords insurance covers you against risks like storms, floods, and fire. It can also cover the damage that tenants can cause to the house – and even cover loss of rental income.
At a glance
Property investor, Southern Tasmania
Building cover, contents, public liability, storm damage, fire, theft, rent cover
Property damage, rent loss
Simon* has an investment property in Hobart. He relies on the income from this property to meet the mortgage requirements each month. Last year, Simon rented his property out to tenants who caused extensive damage to walls, floor coverings and doors – and they left owing 8 weeks rent.
Because the property needed repairs, Simon was unable to replace his tenant straight away, meaning he would be even more out of pocket.
Fortunately, Simon had taken out a landlord policy with us, including a rent loss option. We assisted him to successfully claim the costs of the repairs and his lost income. This allowed him to make his repayments and get new tenants swiftly without loss of income.
Landlord policies cover you for much more than your average home and contents policy. Without it, you could not only lose income - but you could also lose your valuable investment if it’s damaged or destroyed. Contact us to discuss your options as a landlord and ensure you are adequately covered.
*Name changed for privacy reasons