PM - Insurance for the storm

Summer in Australia – it can mean bone-dry blue skies for weeks on end (sometimes resulting in fires), or stormy, tropical deluges that carry away gardens and flood homes. Just as your own residence is insured for Australia’s extreme seasonal weather – make sure you take out appropriate landlord insurance to secure your secondary key assets. 

Landlord insurance is an essential contingency plan for when unexpected events occur. It protects you in several ways: firstly, it can help you recover financially should you have a tenant who falls behind on their rent – endangering your own ability to make mortgage repayments and risking your credit record.

Should you have a tenant who damages your property, appropriate landlord insurance also covers you for intentional (or unintentional) harm to your asset.

Ideally, your insurance will also cover any theft (kitchen appliances, ‘plant’ furnishings etc.) and legal fees that may come from taking action over damage to the house.

Your tenant’s belongings are covered by their own private contents insurance – and our property managers encourage tenants to take responsibility for their belongings’ safety with independent cover.

Would you like a referral to a reputable landlord insurer? Please ask your property manager.