Landlord Insurance FAQ’s
FREQUENTLY ASKED QUESTIONS
#1 LANDLORD INSURANCE SPECIALISTS
Only if a combined Landlord and Building policy is taken. For units/flats and property under strata complex, the building insurance is addressed by the owner corporation or body corporate by law, so there is no need to include building insurance.
For a standalone house, you will need to select our Combined Building and Landlord Policy to ensure you have the appropriate cover is in place.
If the lease contract is terminated and the landlord moves in, does the policy need to be changed or cancelled?
You will need to notify us as the policy will no longer be valid once the landlord takes permanent residence at the property. The Landlord policy can then be cancelled and we can then arrange a home and contents insurance policy for you.
No, cancellation may be advised or requested over the phone. We will then confirm the policy cancellation via email or in writing, and advise of any return premium refund following cancellation of the policy (where the policy is cancelled prior to the policy expiry date).
Where the original lease contract has expired and my tenant is on a periodic lease am I still covered?
Yes, the Policy provides automatic cover for both fix term leases and continuation of a lease on a periodic basis.
There is no excess applicable for loss of rent or rent default claims and a $250 excess is applicable for all other claims.
We will advise you of all applicable excesses upon payment and renewal of each policy.
With the standard Landlord policy – no as the premium has already been negotiated with the insurers on a minimum premium basis – so reducing the sums insured will not reduce the premium.
With the combined building and landlord policy – yes the sums insured will affect the premium and we will provide you comparative quotes dependant on your requirements.
All insurers charge a Fire Service Levy (FSL) on property insurance policies. This is a state government imposed charge (similar to a tax). The State Government uses these funds to assist to pay for NSW Emergency Services, including Fire and Rescue NSW, the NSW Rural Fire Services, and NSW State Emergency Services.
No, there is no legal requirement for you to have Landlord Insurance. However, if you take out a loan for the investment property, there may be a requirement under the terms of the loan to have appropriate Landlord Insurance.