Landlord’s insurance

If you are buying an investment property – either residential or commercial – then landlord’s insurance is a must.

It can cover you for loss of rent (if the tenants default on their payments) and against damage caused by the tenants and against the same events covered by home insurance.

Understanding exactly what the policy covers is important. Look for a policy that covers:

• Full building replacement no matter the cost (some policies only cover you up to a certain amount but that may not be enough to rebuild you home as it was)
  
  
• Natural events such as flood, storm and fire (be careful for the definition of flood, some policies will cover for some types of floods but not others)
  
  
• Cover in case someone is injured at your property and takes legal action against you. 
  
  
• Cover for loss of rent, theft and damage caused to the property by tenants

Our partner, ANZ, offers Landlord’s Insurance, find out more.