If you’re one of the 2.6 million Australians who own an investment property, you should consider taking out landlord insurance to protect your investment and the income it provides.
Landlord insurance policies may also cover short term holiday rentals or holiday homes, such as approved Airbnb and Stayz residences.
When you own a rental property, you’re vulnerable to the same risks of any homeowner, such as storms, floods and fire. You’re also vulnerable to damage that tenants can do to your contents. And if you can’t rent out your property while it’s being repaired or if your tenants break the lease or leave owing you rent, you could also lose valuable rental income. It pays to have landlord insurance, which is designed to help protect owners of investment properties.
Basic Features of the landlord Insurance:
- Building cover
- Contents if applicable
- Loss of Rent
- Rent Default
- Theft and malicious damage by the tenants
- Accidental damage by the tenants