Landlords insurance
Owning an investment property is a great change for the better. But even with model tenants, you can’t guarantee they’ll look after your property as well as you will. So protect your property by choosing the right cover!
Features and benefits
Here are some of the significant covers provided by this policy:
- accidental loss and damage cover for building and/or contents - when you think of the extraordinary and unlikely accidents that can happen, the value of accidental damage cover will become very clear
- malicious damage or vandalism caused by tenants - no matter how careful you are there is always the chance that you will have problem tenants
- replacement cover - in the event of a total loss the policy covers the complete cost of rebuilding the property to the sum insured. The cost of removing debris and cost of architects, surveyors and legal fees are included for up to 10% of the building/contents sum insured
- liability cover - a choice of cover for either $5, $10, $15 or $20 million
- loss of rent cover option - the policy provides optional cover for the loss of rent following accidental damage or accidental loss to the building. If the building is so badly damaged that it can't be lived in CGU Insurance will pay you the loss of rent until the building can be lived in, for up to 12 months or to the amount selected by the insured
- rent default and theft by a tenant option - if your tenant defaults on rent or leaves the building before the end of the rental period, or is legally evicted, the policy can provide cover for lost rent until the property is re-let. The most CGU Insurance will pay is $5000. In addition, cover is available for theft by tenants, and legal costs incurred in taking action against the tenants
For more information contact us on 133 cua (133 282) or visit your local branch.
Credit Union Australia Limited ABN 44 087 650 959 (CUA) acts under its own Australian Financial Services Licence No. 238317 and under an agreement with the insurer CGU Insurance Limited ABN 27 004 478 371 (CGU) AFSL 238291. CGU Landlords Residential Property Insurance is issued by CGU Insurance Limited. You can get a product disclosure statement (PDS) for the product from any office of CUA or CGU. You should consider the PDS in deciding whether to buy or hold the product.
