Landlords Insurance | The reality of reality

When it comes to decisions about your financial future, purchasing property as an investment has increasingly become a popular choice. However, with every investment comes some level of risk. While most of us have an ‘it won’t happen to me’ attitude about things going wrong, as a landlord, there are certain risks you simply can’t avoid. This is where landlord’s insurance can help protect you.

Guild Insurance provides landlord’s insurance to property owners Australia-wide. Every day, they work with landlords to help reinstate properties as a result of both malicious and accidental damage caused by a tenant. Guild shares some real-life case studies and how landlord’s insurance could help you.

Case study one

A landlord discovered that their property was being used to grow marijuana. The tenant had completely covered the windows and other areas of the property to hide the setup. The tenant had not otherwise provided the landlord with any other issues such as payment of rent or issues with the neighbours, and therefore did not raise any suspicion with the landlord or the property manager. As a result, the actual loss from water damage, electrical and loss of rent exceeded $58,000 which Guild helped to reinstate by paying the building costs.

     

Case study two

Following a dispute around unpaid rent, spanning several months, a landlord attempted to evict the tenant and recover the unpaid rent. As a result of the dispute, the tenant decided to maliciously damage the property which included some of the walls, fixtures and fittings. Some significant and costly rectification work was undertaken to bring the property back to its original state which Guild was able to assist with swiftly.

Still think it won’t happen to you? Unfortunately, these are common claims that Guild help with and they could happen to you. However, as you can see, should damage happen to your property it can be reinstated with the help of a tailored insurance policy.

Working in partnership with Guild Insurance, Partners Wealth Group is proud to offer you a dedicated Landlord’s Insurance policy. Guild Insurance is a 100% Australian owned business which means they continually work to improve their policies to meet the changing needs of Australian landlords. It also means should you need to make a claim; they are available 24/7 to assist you.

Some highlights of Guild Landlord’s Insurance:

  • Cover for fixtures and fittings of your property.
  • Theft, attempted theft and burglary of your contents.
  • Both accidental and malicious damage caused by your tenant.
  • Loss of rent caused by several factors including tenant default, tenant hardship and a court-ordered legal eviction.

Get a quote online today here, or to learn more about this policy or your exposures as a landlord, speak to one of Guild’s insurance specialists on 1800 810 213.

Insurance issued by Guild Insurance Ltd, ABN 55 004 538 863, AFSL 233791 and subject to terms, conditions and exclusions. This document contains general advice only and doesn't take into account what you currently 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 an insurance product. You can get a copy of the PDS by calling 1800 810 213. PWG5277