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It's not in relation to the selling price it's the replacement cost of the property, land value doesn't come into it. In simple terms, with a house for example, you may purchase it for $500,000 but the actual house itself would cost $300,000 to replace, the other $200,000 being the land value...

Yes, in essence you're correct about Mortgagee Protection insurance or Mortgagee's Interest insurance. As Y-man said, I make no secret about the company I work for, albeit I do my best to remain impartial on here. EBM are the largest privately owned and operated insurance broker in Australia...

I have probably covered this earlier, but certainly some landlord policies will cover damage to fixtures, particularly if denied by the strata insurer, but this could vary from policy to policy. And the mortgagee protection (Mortgagees Interest insurance) won't help I'm afraid.

Correct in that in most cases the strata policy won't cover Malicious Damage by a tenant, however a good landlords policy "should" pick up where the strata policy leaves off, but you would have to confirm this with individual policies. In our case we see RentCoverUltra as an "extra-protection"...

These days pretty much any "landlord" policy will also include cover for defined events such as fire, storm, water etc. Although it is in the cover provided for the tenant-related risks that can vary the most from one policy to another. Not the case at all, plenty of companies have combined...

Although there have been quite a few clarifications later in the thread, I will just try to clarify a little further: First up, leaking showers are very complicated when it comes to insurance, and often will simply not be covered by any policy. It can involved how it leaks, why it leaked...