Like home insurance, landlord insurance can cover your rental property and it’s contents against risks like storms, floods and fire. It can also cover the damage that tennants can cause to your contents – and even loss of rental income.
Unlike some landlords polices, steadfast Direct landlord insurance can cover holiday rentals and long term rentals.
Without Landlord insurance you could lose your valuable investment if it’s damaged or destroyed.
You could also lose income from tent if your’e unable to rent it out during the repairs, or if your tenants get evicted or break their lease.
Australians own an investment property ( CoreLodgic Profile of the Australian Residential property investor, 2016 )
If damage means you can’t rent your property for a while Landlord Insurance can cover you for loss of rent.
A landlord Insurance policy can include cover for accidental damage, theft and malicious damage by tenants – as well as loss of rent if they leave without paying
Steadfast direct Landlord insurance can provided you with extensive protection if your investment proprty suffers loss or damage.And ,unlike some other policies, Steadfast Direct Landlord insurance automatically includes some additional benefits – and is flexible enough to cater for both short and long term rentals.
The exact cover you can receive depends on the the policy that you take out.But to give you an idea, here are some of the benefits a Steadfast Direct Landlord policy may include:
Each policy is different, but generally you wont be covered :
There are other exclusions we can outline to you further, addition there is a deductible / excess
Janet and Ross bought an investment property in Sydney’s inner west. They relied on the rent from the property to help cover their mortgage repayments.
One year, they rented the property to some tenants who caused extensive damage to some of the walls, floor coverings and doors – and then left owing 12 weeks ‘ rent . Because the property needed repairs, Janet and Ross were unable to rent it out immediately. Fortunately, the couple had taken out Landlords ‘s insuranceand included the rent default option*. They successfully claimed on their insurance to cover their repair costs – and just as importantly, their missing rent.> This allowed them to make their mortgage repayments and repair the property quickly so they could get new tenants in.
*Rents Default is an option extra for landlord’s insurance and attracts and additional premium.
Sentinel Risk Managers is a member of the largest insurance broker network in Australasia, the Steadfast Group.
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