Landlord house Insurance vs Landlord extension

Landlord House Insurance – How to insure a rental house

Do you have a rental property and want to make sure your asset is covered by the right landlord house insurance? This table shows a comparison of what is covered by Landlord extension and Landlord house insurance.

 


Event


Landlord Extension
(will pay maximum of)

 


Landlord Plan
(will pay maximum of)

1 – Landlord’s furnishings suffer loss
[furnishings are defined as dishwashers, stoves, refrigerators, washing machines, dryers and built-in microwaves that are not permanently wired into the home]
$20,000
per dwelling unit

2 – Property damage caused by the tenant(s)

$30,000
[cost of rebuilding or repairing the damaged portion of the property insured
or
indemnity value if you do not rebuild or repair within a reasonable time]

2 – Loss of Rent if Home is uninhabitable $40,000Weekly rent as per tenant agreement during repair or replacement of your Home for maximum period of 12 months
or
up to 2 months if you don’t want your home rebuilt
✔See scenarios below
3 – Loss of Rent if Home becomes untenantable as a result of property damage caused by tenant(s)

The value of
26 weeks rent at 100%
plus
the value of
13 weeks rent at 75%
plus
the value of
13 weeks rent at 50%
4 – Loss of Rent following prevention of access or failure of public utilities Weekly rent as per tenant agreement during repair or replacement of your Home for maximum period of 12 months
or
up to 2 months if you don’t want your home rebuilt
The value of
8 weeks rent
5 – Loss of Rent due to non-payment by the tenant(s) following their vacating of your property without giving the required notice

The value of
8 weeks rent
6 – Loss of Rent following Eviction of your tenant(s) from your property following non-payment of rent

The value of
8 weeks rent at 100%
plus
The value of
4 weeks rent at 75%
plus
The value of
4 weeks rent at 50%
7 – Accidental physical loss or accidental physical damage to the tenant(s) property at the property insured for which you are legally liable

$1,000,000
8 – Accidental bodily injury to your tenant(s) at your property for which you are legally liable

$100,000
9 – Defence costs in relation to points (7) and (8) above

Included within limits for points (7) and (8)

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