Contega

Landlord and investment property insurance

Landlord and investment property, clearly understood.

An investment property is an asset and an income stream at once. The insurance should protect both: the building and the rent it produces, on terms that match the lease, the tenant and the way the property is held. We help you understand where that exposure sits, then decide which of it to insure, which to carry and which to reduce at the source.

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An adviser and client reviewing property plans together

The basics

What is landlord insurance?

Landlord insurance is designed for owners who let property to others. A standard home or building policy is written for an owner who lives in the property and may not respond in the same way once it is tenanted. Landlord cover extends to rental income and to risks that come with having tenants.

Generally covered

  • Building damage from events such as fire, storm and water
  • Loss of rent while an insured event makes the property unlettable
  • Theft, burglary and accidental or deliberate damage by tenants and their guests, where included
  • Unrecoverable rent from tenant default, where included
  • Landlord contents and fixtures, such as appliances and carpets
  • Outbuildings and site structures such as fences, gates and swimming pools, where included
  • Liability and legal expenses as the owner of the property, where included

Generally not covered

  • Wear and tear and gradual deterioration
  • Tenants’ own possessions
  • Losses you could reasonably have prevented through maintenance
  • Vacant properties, where cover is often reduced or suspended after a set period, commonly 60 to 90 days, unless the insurer agrees
  • Flood, unless it is specifically included
  • Hazards that were not declared to the insurer

Terms, limits and conditions differ between insurers, so we read the wording with you.

Choosing the structure

Building and contents, or contents only?

Landlord cover generally comes in two structures, and choosing the right one depends on who insures the building.

  1. Building and contents

    For owners who insure the building itself, along with landlord-owned fixtures, fittings and contents, and the risks that come with having tenants.

  2. Contents only

    For owners who do not insure the building, such as a lot owner in a strata scheme where the owners corporation insures the building. It protects landlord-owned contents and the risks that come with tenants, including liability.

Other property types

Commercial and strata.

Commercial landlords usually arrange cover through a commercial property policy, where the lease often decides who insures what and who bears the cost of damage.

In a strata scheme, the owners corporation generally insures the building, so a lot owner’s cover focuses on contents, fixtures, rent and liability.

Who it suits

Who we work with.

Property is a core focus for Contega. We work with people who own and let property, including:

  • Commercial landlords and investors
  • Owners with multiple properties or a growing portfolio
  • First-time investors whose lender requires insurance
  • Short-stay hosts, whose cover often differs from a standard tenancy

Getting it right

Four decisions that shape your cover.

  1. How much to insure the building for

    The sum insured should reflect the cost to rebuild, not the market value. Underinsurance is one of the most common and costly gaps.

  2. How long you could be without rent

    Repairs, approvals and re-letting often take longer than expected, so the period of cover for loss of rent has to allow for it.

  3. How tenant risks are covered

    Cover for tenant default and malicious damage is often subject to limits, conditions and evidence requirements, such as tenancy checks and bonds.

  4. What your lease, lender and scheme require

    Leases, finance arrangements and strata rules can each set insurance requirements. We check them against the policy.

Our advice

How Contega approaches property investment.

Our advice begins with the property and how it is held: its use, its tenants, its lease and the people with an interest in it. From there we work out what the building would cost to rebuild and how long the income could be interrupted.

Where practice can be strengthened, we say so. Regular inspections, tenancy checks and maintenance records reduce the chance of a claim, and they can strengthen your position when one is made.

Insurance is one part of the solution. We help you weigh what to transfer to an insurer, what to carry and what to reduce through better practice, then arrange the cover you choose.

If something does go wrong, we stay alongside you from the first notification.

Our approach

Four stages, whether we are starting from a renewal or a blank page.

  1. Observe

    We learn about the property, how it is let and what your lease, lender or scheme requires.

  2. Analyse

    We test values and rebuild costs, and work out how long a loss of rent could last.

  3. Protect

    We recommend a way forward and arrange the cover you choose, with options and cost side by side.

  4. Stay alongside

    We stay close through renewals, changes to the portfolio and, if it happens, a claim.

Talk to us

Let’s start with what matters.

Have a question about your landlord cover, an upcoming renewal or a new property? Tell us what prompted the enquiry and we will work out the next step together.

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Contact details

Sydney
Level 9, 32 York Street
Sydney NSW 2000
Melbourne
489–505 Toorak Road
Toorak VIC 3142

A Cohabit Group company

Contega is the commercial risk advisory business within the Cohabit Group, a risk intelligence company built around clearer data, better decisions and smarter insurance outcomes.

Visit cohabit.com.au