Safeguard your investment with Building Plus Landlord Insurance

Landlord and building insurance is designed for residential investment properties. It covers the physical structure of the property and also protects investors against risks associated with renting, such as tenant-related risks (deliberate, malicious or accidental damage) and landlord legal liability.

Building cover generally includes the property’s main structure and permanent fixtures, such as walls, roofs, kitchens, bathrooms, and built-in cupboards. Cover can apply to insured events listed in the Product Disclosure Statement (PDS), such as fire, storm, flood (where selected), impact, and escape of liquid, or on an accidental damage basis, subject to the policy’s terms, conditions, and exclusions.

Landlord policies may provide cover for loss or damage caused by tenants, including malicious damage, where this option is automatically included or available on an optional basis and policy conditions are met. Excesses, limits, and exclusions apply, and claims must meet the definitions set out in the PDS. 

Loss of rent may be covered if the property becomes uninhabitable due to an insured event or eligible tenant-related issues, as defined in the PDS. The amount and duration of cover are subject to policy limits and any applicable waiting periods.

Landlord insurance typically includes legal liability cover for claims arising from injury or property damage to third parties in connection with your Insured property, where the landlord is legally responsible. Cover is subject to policy limits, conditions, and exclusions detailed in the PDS. 

For strata-titled properties, the body corporate generally insures the building structure. However, landlord insurance may still be required to cover landlord-specific risks, such as landlord-owned contents within the unit, tenant damage, loss of rent, and landlord liability. Always review the strata policy and the local state or territory Strata legislation to understand what is and isn’t covered.  

At Duo Insurance, we understand that Insurance for your investments can be confusing, costly, and time-consuming. Please reach out to us anytime and let us take the hassle off your hands.