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Landlord Insurance

Residential property investment can be an excellent way to generate wealth, but there is a certain amount of risk that comes with being a landlord.

Landlord insurance can protect you from financial losses connected with your rental property.

Surveys have shown that two out of five landlords have experienced tenants defaulting on rent or causing severe property damage beyond what would be covered by a security deposit (bond money).

Even with supervision, tenants and their guests may cause malicious damage to, or steal from your property.

Loss of rental income can occur when a tenant vacates a property without giving notice or stops paying you rent and won't let you access your premises.

It can also arise when a rental property is vacant for a significant period of time - it might not always be possible to replace a departing tenant with minimum delay.

Have you considered the impact that an uninsured major loss would have, and the financial loss/burden that would inevitably follow? With landlord insurance, you can minimise that potential impact.

We offer you the choice of three covers: Building and Contents; Rent Default, Malicious Damage, Theft; and Liability.

Your local Elders Insurance agent can help you identify which covers are appropriate for your specific needs.

What's more, when you choose our landlord insurance, we provide you with a convenient way of protecting all your investment properties under one policy.

Instead of having several policies which expire at different times, we will simplify your covers and ensure you know exactly how they will benefit you.

If you're an owner of tenanted property and want a policy specifically tailored to protect you and your investment property, we invite you to call your local Elders Insurance Agent - local insurance made easy

Building and Contents Cover

Elders Insurance gives you the flexibility to insure your Building, or your Building and Contents. When you insure your Building, you can choose to insure for replacement value or indemnity value. When you insure your contents, they are automatically insured for replacement value (except for carpets, curtains, drapes and internal blinds more than 10 years old).

Your Building and Contents are also protected against accidental loss or damage of all kinds, other than those events specifically excluded in the policy wording. If we pay out for damage to the building and it cannot be lived in because of that damage, we will pay your loss of rent (for up to 12 months) until the damage is repaired, but the amount we pay for loss of rent will not be more than 10% of the sum insured on the building.

Rent Default, Malicious and Intentional Damage, Theft Cover

If you choose to buy this additional insurance, we provide the following cover:

  • The cost to repair Malicious Damage to the Building caused by your  tenant, their children or their visitors
  • The cost to replace parts of the Building that are stolen, e.g. light  fittings
  • If you insure your Contents, the cost to repair or replace items which  are Maliciously Damaged by your tenant, their children or their visitors
  • If you insure your Contents, the cost to replace items that are stolen
  • Your loss of Rent (subject to certain limitations) if the Building is  unoccupied for more than 7 days because:
    • your tenant vacates without notice;
    • your tenant stops paying you rent and denies you access to your  premises; or
    • malicious and intentional damage has been sustained to your premises.

Liability Cover

As part of our standard cover, we protect you for your legal Liability as a Landlord arising from the ownership of the Building for occurrences that cause death, injury or illness, or loss or damage to someone else's property. 

You are covered for your legal liability to pay compensation or expenses up to $30,000,000 for any one occurrence

To fill out a quote request click here.