Insurance neglect/wear tear clause

Hi guys, trying to find most suitable insurance for my duplex rental. Building & landlords.

I see most of the companies have a exclusion for tenant neglect/wear tear. This includes generic insurance companies eg AAMI/RAC but also the more specialised ones such as AAMI.

Do we just take it as a fact of life and ignore the clause and expect not to be covered in the unfortunate instance that a tenant neglects/damages the property?

These policies do have a malicious damage policy, but how do they determine which it is practically??
 
Check EBMs PDS and look at the malicious and accidental damage clauses.

Fair wear and tear will not be covered by any insurance.
 
Hi guys, trying to find most suitable insurance for my duplex rental. Building & landlords.

I see most of the companies have a exclusion for tenant neglect/wear tear. This includes generic insurance companies eg AAMI/RAC but also the more specialised ones such as AAMI.

Do we just take it as a fact of life and ignore the clause and expect not to be covered in the unfortunate instance that a tenant neglects/damages the property?

These policies do have a malicious damage policy, but how do they determine which it is practically??

The biggest difference you will get is whether the policy only includes Malicious Damage, or whether it includes Accidental Damage as well. If it's only Malicious Damage it will exclude anything that you cannot prove was caused with malicious intent, so it is very limited.

Be aware that most policies will NOT cover Accidental Damage.

As has been said, wear and tear will never be covered, what you class as "neglect" may be but can be dependent on whether there is an actual event that occurred or whether it is a buyild up over time, therefore excesses may reduce or negate what is worth claiming.
 
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