Tips & Advice | The Importance of Landlord Insurance

Owning an investment property can be profitable. However, renting out your property comes with risks. Without putting landlord insurance in place, your profitable investment can quickly become a financial nightmare.

A landlord insurance policy is designed to protect your investment from the risks it could face.

Taking out a specialist landlord insurance policy could cover you from the following:

• Cover against loss of rent, you cannot control a tenant’s job loss, relationship breakdown, health or if they are to leave unexpectedly
• Cover against damage caused by weather events such as storms, hail, floods, cyclones and bushfires
• Cover against legal liability, if you are found to be legally liable for an incident e.g. tenant injury
• Cover against legal expenses such as court costs and tribunal fees
• Cover against denial of access, should a tenant refuse to leave your property and a court order is required to gain back possession
• Cover against tenant damage, should a tenant cause damage to your property
• Cover against pet damage, should your property be damaged by a tenant’s pet kept at the property
• Cover against water and fire damage

Please note: M/Property are not insurance advisors; we recommend you shop around for the policy and insurer that best suits your needs.