What happens if the building becomes uninhabitable?
Loss of rent is covered for up to twelve months if the building becomes uninhabitable as a result of an insured event. All of the following conditions apply:
- Your building is tenanted pursuant to a current rental agreement at the time of the insured event;
- The building is being repaired or rebuilt and is uninhabitable, as a result of an insured event; and
- We believe the time to repair or rebuild the building is reasonable.
We do not cover loss of rent under this additional benefit, if at the time of the insured event there was no tenant living in the building under a current rental agreement.
We will calculate the loss of rent by reference to the rent amount under the rental agreement that was in place at the time of the insured event.
Check the PDS for full details.
