Do you have a rental property? Are you looking for insurance to protect yourself against damage caused by tenants? Read on to find out more about what Max Insurances can offer!
What is landlord insurance?
A rental property could be a great investment, however, it can come with some challenges and dramas. That’s why it’s important to choose the right insurance policy to protect your property.
Landlord insurance is designed to cover landlords for things like damage caused by tenants, loss of rental income and landlord liability. There are a number of landlord insurance options and these policies vary greatly, some policies are supposed to be an addition to your home and contents insurance, while others are more comprehensive and could replace the need for general home and contents insurance.
The most common risks that landlord insurance covers are:
DELIBERATE DAMAGE OR THEFT BY TENANTS
If your tenants or their guests intentionally damage or steal from your property, landlord insurance normally covers the costs up to certain sum.
LOSS OF RENT
Damage caused by accident to the property could be extreme. If your rental is accidentally damaged, it is likely that your property can’t be rentable for a period, so you may lose some rental income. Landlord insurance can cover loss of rent for accidental damage.
In addition, if your tenants leave without giving you the required notice, or you have to evict tenants, landlord insurance can also cover the costs up to a certain amount.
DECONTAMINATION AND REPAIR
If your tenants use illegal drugs, your property may require decontamination. Some landlord insurance policies cover you for the costs of discovering the contamination and repairing the physical damage to your rental property.
How can Max Insurances help?
As you don’t always know what goes on in your rental, getting a landlord insurance policy could be a great idea to put your mind at ease. However, there are a number of landlord insurance policies available on the market and comparing different options can be very complicated. Luckily, Max Insurances is here to help. As reputable insurance experts in NZ, we fully understand the insurance market and have access to a number of insurance providers, which can save you time and money. We will work with you to make sure you completely understand how landlord insurance works ,what you will and won’t be covered for, and help you get the cover that best suits your needs. If something goes wrong and you have to make a claim, we’ll assist you to make sure you present your best case.
Why choose Max Insurances?
- We are insurance experts and have access to market information
- We will help you understand the cover level and make it easier to pick the right policy
- We won’t cost you any more – we get paid a commission by the insurer when we settle a deal
- We are NZ owned and fully understand the insurance market in NZ
Contact Max Insurances today
We would love to take the hassle out of choosing your landlord insurance. Contact us today to see how easy it is to get the right cover at a competitive price!