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
Important note: This information is provided to assist you in understanding some terms, implications and common considerations of this product. It does not constitute advice, and is not complete, so please contact us to discuss the full details. You should consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD), where applicable, when deciding whether to buy (or continue to hold) this insurance and also whether this insurance is appropriate for you. These documents can be obtained by contacting our office. Deductibles, exclusions and limits apply.