Rental Insurance for Landlords and Tenants

Protective Rental Insurance for Landlords

You've taken the plunge and purchased your first rental property, or perhaps your second as you build your portfolio. It's a major investment so you want to be sure not only that you have purchased a sound, desirable property with long-term potential but that you have quality rental insurance in place as well.

Rental insurance covers your investment rental home for the standard events such as storm and lightning, fire, explosion, impact, rainwater, run-off and water damage, malicious damage and riot, plus theft by the tenant, rent default, tenant hardship, death of a sole tenant, landlord's contents, mortgage discharge costs and more.

Please be aware, you will require a written lease or rental agreement and all bond money must be paid up front before you are covered by the aspects pertaining to the tenant, such as theft and default.

There are a number of events you need to let 1Cover, as your rental insurance provider, know about, such as if you intend leaving the premises vacant for more than 60 days, are undertaking renovations or adding extensions, garage or carport, or if your tenants wish to run a business from the house.

In fact, it's best to make contact on any aspect that changes the structure of your rental property or how it is used as these aspects will frequently impact on the amount of cover you will require and may have qualifications.

Secure Contents Insurance for Tenants… Plus

Naturally a landlord's rental insurance applies solely to the home and to the external fixtures. As tenants, you will need to take out your own insurance to cover your contents and personal belongings.

1Cover's comprehensive contents insurance offers fantastic protection for all your core furniture, soft furnishings, outside furniture and belongings such as bicycles, surf boards and the like, personal possessions even when you travel throughout Australia , credit cards, personal liability and much more.

Plus, because we recognise accidents do happen no matter how careful you are, we include cover for damaged fittings and fixtures which belong to the landlord, but for which you are legally accountable within the terms of your lease.

Even in the most careful households, no one can guarantee accidents won't happen and environmental damage may happen at any time. 1Cover provide quality, low-cost rental insurance to cover valuable assets and to assist all parties to honour their own areas of responsibility.