Hi all,
I know there are bazillion other landlord insurance threads although this is more to do with coverage. More specifically, damage caused by tenants.
Ive been looking around at a couple of insurers for quotes as I need to take out insurance for the settlement of my property. While reading the features of each policy, there is once which stands out for me, Malicious damage by tenant.
It seems most policies only have limited cover in this respect (along with loss of rent / default.
EBM cover up to $50,000
NRMA cover up to $10,000
None really cover up to full replacement value of the home.
What worries me here is for example, if the tenant totally trashes my IP, then there is always a chance I may be out of pocket big $$$.
CGU and possibly Westpac Insurance cover full replacement value for malicious / vandalism caused by tenants.
What are your thoughts on this and anyone have a policy which covers more?
I know there are bazillion other landlord insurance threads although this is more to do with coverage. More specifically, damage caused by tenants.
Ive been looking around at a couple of insurers for quotes as I need to take out insurance for the settlement of my property. While reading the features of each policy, there is once which stands out for me, Malicious damage by tenant.
It seems most policies only have limited cover in this respect (along with loss of rent / default.
EBM cover up to $50,000
NRMA cover up to $10,000
None really cover up to full replacement value of the home.
What worries me here is for example, if the tenant totally trashes my IP, then there is always a chance I may be out of pocket big $$$.
CGU and possibly Westpac Insurance cover full replacement value for malicious / vandalism caused by tenants.
What are your thoughts on this and anyone have a policy which covers more?