Insurance made simple
Landlord insurance in Australia is a type of cover designed to protect property owners who rent out their homes or units. It typically includes protection for the building itself, any landlord-owned contents (like carpets or appliances), and risks like tenant damage, loss of rent, and legal liability if someone is injured on the property. It’s a safety net that helps landlords manage the financial risks of leasing out their investment property
Building cover under a landlord insurance policy protects the physical structure of your investment property from damage caused by insured events like fire, storm, vandalism, or accidental damage by tenants. This includes key components such as walls, roof, floors, built-in fixtures (like kitchens and bathrooms), and even external features like garages, fences, and paved driveways. If something goes wrong – like a burst pipe or a tenant accidentally sets off the sprinkler system – building cover helps pay for repairs or rebuilding, so you’re not left footing the bill.
Contents cover under a landlord insurance policy in Australia protects the items you own inside your rental property – like carpets, curtains, light fittings, appliances, and furniture (if furnished) – against damage or loss from insured events such as fire, storm, theft, or tenant damage. It’s especially important if you lease out a furnished property, but even in unfurnished rentals, it can cover fixed items not included in building insurance, like blinds or dishwashers.
Loss of rent under a landlord insurance policy in Australia helps cover your rental income if your property becomes uninhabitable due to an insured event – like a fire, storm, or malicious damage by tenants. If repairs mean your tenants have to move out, this cover can reimburse you for the rent you would’ve earned during that downtime.
Rent Default under a landlord insurance policy provides cover if your tenant stops paying rent in breach of the lease agreement. This could happen if they leave without notice. It’s usually an optional add-on, not standard cover, and can help reimburse you for lost rental income during the default period. Just keep in mind – limits, conditions, and waiting periods often apply, so it’s worth checking the fine print or Product Disclosure Statement (PDS).
Malicious Damage by a tenant under a landlord insurance policy refers to intentional harm caused to your rental property out of spite, anger, or revenge. Think smashed windows, punched walls, graffiti, or ripped-out fixtures – damage done deliberately to cause destruction, not by accident or for personal improvement.
Some landlord insurance policies in Australia include cover for malicious damage by tenants, but not all do, and the definition can vary. It’s important to distinguish this from:
To claim for malicious damage, insurers often require proof of intent, such as a police report or evidence of forced entry or vandalism.
Public Liability under a landlord insurance policy in Australia covers you if someone is injured or their property is damaged due to an incident at your rental property – and you’re found legally responsible. For example, if a tenant trips on a broken step or a visitor is injured by a falling branch, this cover can help pay for legal costs, medical expenses, and compensation payouts
Jakoop Brokers Pty Ltd T/As Simplify My Insurance
CAR No. 1315829 l ABN 22 637 887 506
Authorised Representative of Community Broker Network Pty Ltd
ABN 60 096 916 184 | AFSL 233750
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123 Parkyn Parade Mooloolaba QLD 4557
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