• Strata

About Landlord Insurance for Strata


For owner occupiers, home and contents insurance is relatively common. The policy covers a property against nominated risks – offering peace of mind to the home owner against such contingencies as fires, storms and burglaries.

There are generally two types of home and contents insurance available on the market. There’s a basic cover which is limited to defined risks such as fire or water damage and burglary. The second type of cover includes full material and accidental damage. This covers everything from accidentally dropping a vase or television set, to fusion cover and temporary accommodation if it’s required.

But if you rent out your property, home and contents insurance may not cover everything associated with a rental property.

That’s where Landlord Insurance fills the gap – as a protection for your investment insuring the owner against risks beyond their control; unforeseen circumstances that may cause damage and loss of income.

The main benefit of Landlord Insurance is peace of mind, knowing that as a property investor, you have adequate insurance to cover your investment.

While each landlord insurance policy is unique to the insurer, as a guide policies might cover the contents against accidental fire damage and water damage, deliberate damage by tenants and rent default. There might also be public liability coverage for injury or third party property damage and legal expenses incurred while pursuing a tenant to recover rent owed.

Overall, Landlord Insurance covers most risks associated with tenanting your property – focusing on damage to the property and circumstances that prohibit the collection of rent. It’s best to compare several companies before signing up for the insurance and always check the policy wording.

For more information on Landlord Insurance, contact your Strata Manager at Netstrata.

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