Landlord Building Policy vs Household Policy

Landlord Building Policy vs Household Policy

If you own a house and rent it out, a simple household insurance policy may not give you the cover you need.
Householder’s insurance policies are designed to cover the house owner that lives in the house.
If you have this policy and rent out your house, your property may not be appropriately covered.
Speak to your insurer to rectify the situation or contact your managing agent to be directed to the correct cover.
Insurers can and may refuse to pay claims that are caused by tenants. Make sure you change your Householder’s policy to a Landlord house policy or you may face not being insured at all.
Landlord’s policies may cost slightly more in premium, but the cover is specifically designed to protect the landlord for tenant exposures. In the event of a large loss any price difference is quickly forgotten.

This article contains general advice only and does not take into account what you current have, want and need for your personal circumstances. It is important for you to consider these matters and read the Product Disclosure Statement (PDS) and policy before you make a decision about any insurance product.

If you would like to discuss your property, or would like any further assistance, please contact our office.
Toronto 02 4959 8667
Morisset 02 4973 1337
Designed & Powered by Zenu