LANDLORD INSURANCE
Like home insurance, Landlord Insurance can cover your rental property and its contents against risks like storms, floods and fire. It can also cover the damage that tenants can cause to your contents – and even loss of rental income. Unlike some landlord policies, Steadfast landlord insurance can cover holiday rentals and long-term rentals. Package your landlord insurance with your general home and contents insurance policy.
Without landlord insurance, you could lose your valuable investment if it’s damaged or destroyed. You could also lose income from rent if you’re unable to rent it out during repairs, or if your tenants get evicted or break their lease.
LANDLORD INSURANCE AUTOMATICALLY INCLUDES SOME ADDITIONAL BENEFITS AND IS FLEXIBLE ENOUGH TO CATER FOR SHORT AND LONG TERM RENTALS :
â–º Automatic cover for flood and fire or explosion.
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â–º Automatic inflation adjustment if you need to make a buildings or contents claim.
â–º Liability cover of up to $20 million for injury or loss of life to a third party, or loss of a third party's property on a building you own.
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â–º Cover for loss or damage caused by tenants or their visitors (exclusions apply).
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â–º Automatic cover up to $10,000 for damage to landlord’s contents – like carpets, curtains, washing machines and portable furniture – and the option to increase cover for greater amounts.
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â–º Cover for loss or damage caused by electric motor burnout for appliances up to 15 years of age.
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â–º Catastrophe cover up to an additional 15% of the building sum insured, for declared natural disasters.
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â–º Tax audit cover (cover options of $2,000 or $5,000).
â–º Optional cover for loss of rent or an absconding tenant. Up to an additional 15% of the building’s total sum insured, to cover demolition and removal of debris, and architects and engineering fees.
2.6 MILLION
2.6 million Australians own an
investment property.
LOST RENT
If damage means you can’t rent your property for a while, landlord insurance can cover you for loss of rent.
AIRBNB?
Landlord insurance may also cover short term holiday rentals or holiday homes, such as approved Airbnb and Stayz residences.