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Landlords should protect their investment property and rental income with a specifically tailored insurance product.
As a landlord, you rely on your investment property to provide a healthy return.
What would you do if your tenant maliciously damaged your investment property or defaulted on their rent?
In these unforseen circumstances, the bond money may assist but it may not be enough. An otherwise wise investment may become a costly exercise. You can never be absolutely sure that the best tenants will take care of your investment property in the same way you would, even when the property is well managed.
There is a better way to protect your investment and give you real peace of mind!
Get the Landlord's advantage with an insurance policy that gives you:
- The choice of two levels of contents cover; either $20,000 or $55,000 contents sum insured.
- Loss of Rent caused by premises becoming untenantable due to insured physical loss or damage to the building or prevention of access due to the damage.
- Larceny, malicious damage and vandalism caused by tenants up to the contents sum insured.
- Theft by tenants.
- Rent Default due to a tenant leaving the situation without notice before the expiration date of the lease, default in paying rent owed at the situation under the terms of the lease, as a result of a tenant being legally evicted and legal expenses incurred due to contesting a rent default case.
- Protection as a landlord for legal liability resulting in death or bodily injury and/or property damage caused by an accident.
- $20,000,000 liability cover.
Frequently Asked Landlords Insurance Questions
What is Landlords insurance?
Landlords insurance provides insurance protection for your liability as a Landlord, as well as cover for Landlords contents and loss of rent.
What contents are covered by the Whitbread Landlords policy?
Contents including carpets, curtains, dishwashers (not built in), light fittings up to the sum insured - $20,000 or $55,000.
Whitbread Landlord's policy is an Accidental Damage policy - is this better than a Defined Events policy offered by others?
Yes, an Accidental Damage policy is more comprehensive than a Defined Events policy. For example: should a tenant accidentally spill paint on the carpet or break a light fitting these items would be covered under an Accidental Damage policy but not under a Defined Events policy.
Am I able to extend my cover to include my building as well?
Yes, building insurance cover is available. However, if your property forms part of an Owners Corporation your building may be covered under the Owners Corporation’s insurance building policy.
What if I decide to move back into the rental property, do I need to advise my insurer?
Yes, you need to advise Whitbread Insurance Brokers and we will change your policy over to a householder’s policy.
If my building is insured by the Owners Corporation and that cover includes Public Liability, why do I need Landlords insurance?
The Owners Corporation policy does not include insurance for your liability as a Landlord.
If my property forms part of an Owners Corporation and I structurally improve my property, will improvements be covered by the Owners Corporation building policy?
If you affect structural changes to the building you will need to advise the Owners Corporation Manager to have the building policy extended.
If my building is covered under the Owners Corporation Building insurance, what is covered?
Items such as the walls, fixed ceilings, taps, bench tops etc are covered. These policies usually provide wide insurance protection but do not insure risks covered by the Landlords insurance. You should read the policy to obtain the full extent of the insurance.
If my property is part of an Owners Corporation can I assume my property is automatically covered?
No, you should check with your Owners Corporation Manager to see if the property is covered under the Owners Corporation insurance policy.
Is my insurance tax deductible?
Yes, one advantage of having an investment property is that the insurance is tax deductible. You should speak to your accountant who can advise you about tax matters
The above information and policy details are a brief summary of the policy wording and limits and should only be considered as general advice. It is not intended to take the place of professional advice. Before acting on this information you should consider the appropriateness of this advice to your particular objectives, needs and financial situation. For a full explanation of policy terms, conditions and limits you should refer to the Product Disclosure Statement which can be obtained from our office. Cover is subject to underwriting acceptance criteria.
Landlords Documentation
Landlords Product Disclosure Statement
Student Contents Insurance Proposal
For a landlords insurance quote please contact our landlords department or complete the landlords online application.
Please Note: To decide if this product is right for you please carefully read the Product Disclosure Statement before making any decision. You can obtain a Product Disclosure Statement from Whitbread Insurance Broker.
