Landlord Insurance

A specialised cover for Rental Properties

 

Why you need it!

Most Home insurance policies will cover the owner against Loss of Rent by a tenant should the premises be rendered Uninhabitable resulting from the occurrence of an insured event, such as a Fire. But there are generally two notable exclusions which make a standard Home policy not suitable for Rented Properties:

  • Standard Home policies do not cover Malicious Damage by Tenants; and
  • The standard policy does not cover Rent Default or Theft by a Tenant.

BE AWARE that some Landlord policies marketed through Real Estate Agents only cover Tenant related claims for rental properties which are not covered by standard home policies generally. So you still need a standard Home policy to cover the major risks to the building such as (Fire, Explosion, Water Damage, Storm, Earthquake etc.)

Why have two separate policies when you can have
one comprehensive policy with options that are
tailor-made for Landlords?

We can offer you Landlord insurance options that can be selected to tailor different levels of cover required for residential property investors including:

  • Building cover;
  • Contents cover;
  • Optional Rent Default
  • Optional Theft by Tenants

Policy Key Features:

  • Comprehensive Accidental Loss or Damage cover including malicious acts by tenants.
  • Contents provided by the Landlord for Tenant’s use cover up to $12,500 for the repair or replacement of furniture & furnishings; fixtures or fittings; carpets, curtains & internal blinds
  • Property Owner Legal Liability cover up to $20 million is included automatically
  • Rental replacement cover after an insured event up to 12 months is included automatically
  • Removal of Debris after an insured event is covered up to 10% in addition to the building sum insured
  • Loss of Rent due to Prevention of Access cover up to 12 months is included automatically
  • Fusion of electric motors repair or replacement cover for appliances up to 15 years old

Optional Cover:

  • Departure of tenant without notice – cover up to 15 weeks limited to $15,000
  • Cover is available for up to 15 weeks loss of rent limited to $15,000 if your Tenant defaults on the rent payments due under your rental agreement.
  • Theft by Tenant cover provided up to the sum insured
  • Legal expenses cover up to $3,000

Special 10% premium discount available

For a quick and easy quotation from Donnellys, please call (08) 8236 7789 and ask to speak to Melanie or Gayle who are our specialist Landlord Insurance brokers.