Cover available to landlords that insures the building itself as well as covering any malicious damage to the investment property caused by tenants, including tenant default.
Landlord Insurance is taken out to protect your investment property against loss or damage.
Cover under this policy which can be taken is;
Building Insurance - This covers the building against loss or damaged caused by an insurable event for example storm, fire, impact. Some companies also offer accidental damage.
Contents Insurance - This covers the landlords items which are not covered under the building cover such as carpet, blinds, light fixtures and fittings. Under this section is where you will also cover your items if the property is furnished.
Loss of Rent - Covers you should the premises be deemed uninhabitable by the insurer due to an insurable event which you have a claim for.
Rent Default - This section provides cover should the tenant vacate without notice, failure to pay rent owned under the terms of the lease or the tenant being legally evicted while the lease is in force. This cover comes into place after the bond has been exhausted.
Malicious Damage - Provides cover for damage to the property caused by deliberate or intentional act by the tenant.
Liability - This covers the landlord for legal liability when bodily injury and/or property damage has been caused.