December 20, 2024

Protect your rental properties from accidental damage and liabilities – Landlords Insurance

Renting out a property that you own can be daunting – even with good tenants, things can and do go wrong sometimes. If you own an investment property that’s rented out, you need to protect yourself against potential damage to your property and assets. Landlords have different risks to standard home owners – and these are often not included in a standard Home & Contents policy. Which is why investors need Landlords Insurance.

Landlord insurance protects property owners from financial losses associated with renting out a property.

It provides cover for both the building itself and any furnishings you’ve provided and your rental income and liability – while you can add further cover for lost rent, periods of no occupancy, and accidental damage.

Landlords have different risks to standard home owners – and these are often not included in a standard Home & Contents policy. Which is why investors need Landlords Insurance.

What’s included in a Landlord’s Insurance Policy?

Arma Insurance helps many investors obtain the right landlords insurance cover for their investment properties.

We can help arrange cover for:

Building Insurance:
Covers the building in the event that they are destroyed or damaged

Landlords Contents:
Covers the contents if they are destroyed, lost or damaged.  Landlords Contents includes the following items: Carpets, blinds, furniture, fittings that are not built in.

Loss of Rent:
Provides a benefit if the property is unable to be lived in or rented due to loss under the building or contents section of the policy.

Rent Default:

– Provides a benefit up to a limit specified on the policy for the following;
– Tennant leaves before the tenancy period without notice
– Stops paying rent
– Evicted from the building

Theft by Tenant:
Provides cover for theft of the building and or contents from the tenant and their visitors.

Liability Insurance:
Covers against any claim for compensation or expenses which the property owner becomes legally liable to pay for following the death or personal injury to any person, or damage to third party property.

Other features of a Landlords policy through Arma Insurance Brokerage includes the following:

  • Accidental breakage
  • Water or liquid damage
  • Vandalism or malicious act
  • Removal of debris and demolition costs
  • Burning out of an electric motor
  • Rebuilding fees (building only)
  • Loss of rent

ARMA Insurance Brokers has partnered with ACERTA to provide you instant quote of landlord insurance policy. Don’t risk your residential investment property. Get in touch with the ARMA team to discuss the best Landlords Insurance solution so your property is  appropriately protected.