You've worked hard to set yourself up for the future. Protect your investment with landlord’s insurance. Price is important, but value is what you're really after. We've put together a list of things for you to consider.
Tips for landlord's insurance
Ensure you have the right level of cover
In the unlikely event that something does happen, you don't want to be out of pocket on a claim. Check the level of cover you need using our home and contents calculators.
Check for malicious damage cover
Some policies don't include cover for malicious damage, when in fact these repairs or replacements can be the most costly. You should check carefully for the limits and excesses. To prove malicious damage you often require a police report.
Check for accidental glass breakage cover
Even with the best tenants, things can go wrong. That's why it's important to be covered for everyday things such as accidental glass breakage.
Review your liability cover as a strata property owner
Strata properties might already be covered under insurance for the common areas, but you may not be protected if someone injures themselves within your premises. Some landlord's insurance policies provide cover for your legal liability, but always check the level of cover to make sure it’s right for you.
Check your excess
Can your excess be varied to suit your needs? To reduce the cost of your premium, you could consider increasing your excess.
Don't buy on price alone
When comparing insurance products, first look at the level of cover, then limits and excess, then the price. Make sure you’re comparing like for like.
For more information download our fact sheet.
What are you covered for with RAC?
- Up to 12 months cover for loss of rent if your investment property can't be occupied after an insured event such as fire or flood.
- Up to $10,000 cover for theft or malicious damage caused by your tenants or their guests.
- Cover for accidental glass breakage.
