Landlord Insurance

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What's Covered

Loss of rental income

Protects you from loss of rental income as a result of scenarios such as those listed below.

Provides cover for:

  • Absconding tenant 
  • Defaulting tenant 
  • Failure to give vacant possession 
  • Death of a tenant 
  • Hardship 
  • Untenantable property 
  • Prevention of access 
  • Failure to vacate a holiday let property 
  • Rent reduction 

Contents

Protects those furnishings you forget, like curtains, carpets, blinds and light fittings. What contents are covered?

Provides cover for:

  • Tenant Damage 
  • Flood 
  • Storm or rainwater 
  • Escape of liquid 
  • Fire or explosion
  • Break-in vandalism or theft 
  • Pet damage 
  • Scorching 
  • Impact 
  • Earthquake 
  • Glass breakage 
  • Lightning 
  • Oil leakage from any heater
  • Electric motor burnout 
  • Riot or civil commotion

Building

Protects your building against: loss or damage caused by tenants, their family or their invited guests. What is building?

Provides cover for:

  • Tenant Damage 
  • Break-in vandalism or theft
  • Pet damage 
  • Scorching 

Additional benefits

  • Legal expenses up to $5,000* 
  • Representation costs up to $500* 
  • Bailiff/Sheriff fees
  • Replacement of locks up to $250 
  • Re-letting expenses in excess of the bond up to $500 
  • Removal of goods up to $500 
  • Tax audit costs up to $1,000 
  • Legal liability cover up to $20 million 
  • Emergency Service damage up to $1,000 

*Legal expenses and representation costs are only covered under the Landlord Preferred Policy and Scheer Short Stay Policy.

 

 

If you use a property manager, we have two types of Landlord Insurance policies available. Our Landlord Preferred Policy covers those with permanent tenancies and our Scheer Short Stay Policy covers those with short-term rentals or holiday homes.

Both policies include:

 

Insured Events

Sub-limit

Absconding tenant 

 Up to 20 weeks loss of rent

Defaulting tenant (by court order) 

 Up to 20 weeks loss of rent

Defaulting tenant (by termination notice) 

 Up to 20 weeks loss of rent

Failure to give vacant possession 

 Up to 28 weeks loss of rent

Death of tenant 

 Up to 15 weeks loss of rent for permanent tenancies; Up to 12 weeks loss of rent (but no more than $12,000 per year) for holiday let properties

Hardship 

 Up to 4 weeks loss of rent

Untenantable property (due to tenant damage to building) 

 Up to 52 weeks loss of rent (but no more than $50,000 per year for holiday let properties)

Untenantable property (due to contents damage) 

 Up to 6 weeks loss of rent (but no more than $6,000 per year for holiday let properties)

Prevention of access 

 Up to 52 weeks loss of rent for permanent tenancies; Up to 26 weeks loss of rent (but no more than $25,000 per year) for holiday let properties

Failure to vacate a holiday let property 

 Up to 26 weeks loss of rent (but no more than $25,000 per year)

Rent reduction 

 Up to 6 weeks reduction of rent

 Click to find out more - Terri Sheer Landlord Insurance