INSURANCE SERVICES NT

Landlord Insurance

Landlords’ insurance is an insurance policy that covers a property owner from financial losses connected with rental properties, including Homes, Units or apartments. The policy covers the building, with the option of insuring any contents that belong to the landlord that are inside, as well as additional cover options detailed below.

 

As well as covering you for loss or damage to your building and/or contents, Landlords Insurance can also provide you with cover for the below options;

 

Tenant Rent Default

This option provides cover should you tenant default on the rental payments or break the lease without notice. Many insurers, if this happens and you have the option, will pay the weekly amount your property is rented for, less any bond money you are legally entitled to for a period of time, many up to 12 months.

 

Malicious & Intentional Damage and Theft by Tenant

Even with Home & Contents cover under a Landlords Policy, you are not covered if your Tenant was to cause Intentional Damage or steal items from your property. This is where this option provides peace of mind that your building and/or contents will be replaced or repaired in case of any damage or loss.

 

Loss of Rent

Loss of rent covers you for a period of time (up to 12 months with many insurers) if your buildings at the site become unfit to live in as a result of an incident covered by Landlords Insurance, such as Cyclone, Fire or Intentional Damage by a Tenant. Some insurers will include this free of charge in your cover and some will add it as an additional option.