Landlord Insurance

[NBS]

Hi,

Just received my LL Insurance has increased 30% have had no claims so can see a phone call happening (or a few).

Anyway Just having a read and came across this little clause.

"your contents" means any item that are owned by you that are left in your home to be used by the tenant and are used solely for private and domestic purposes including, but not limited to:

Domestic and antique and furnishings;
carpets, drapes and interior blinds
moveable swimming pools, saunas and spas,
wall and floor coverings,
household goods,
computer equipment,
tools used only for domestic purposes.
'your contents' also includes the above items not owned by you but for which you are legally responsible.

Not really sure what this section in blue means. Any takers

The only contents I have are a dishwasher, carpets and drapes, everything else belongs to the tenants.

It would also appear LL Insurance only pays 13 weeks for defaulting tenants less the bond.

Brian

 

[brettc]

'your contents' also includes the above items not owned by you but for which you are legally responsible.

Not really sure what this section in blue means. Any takers

The only contents I have are a dishwasher, carpets and drapes, everything else belongs to the tenants.

It would also appear LL Insurance only pays 13 weeks for defaulting tenants less the bond.

Brian

Hi Brian

That's a standard clause and is used to cover something that you may have in the home that you do not actually own but are responsible for if something happened to them. In your own home this could be something like a child's school laptop which is on loan from the school, but you may be responsible to cover under your insurance. As a tenanted property this example would obviously not apply and it's a little hard to imagine what would. An example may be that you have rented an item from someone (a fridge for example) and left it in the home for the tenants use, you may be responsible to cover it under your insurance even though you don't own it.

The bottom line is there is nothing to worry about from your point of view with this clause, it is there more for your protection rather than the opposite, but probably doesn't mean much in a rented property.

In regard to the increase, is it in a far northern Australia area (above the 26th parrallel) or an area that has been affected by floods?

 

[NBS]

Hi,

Thanks for the reply. I was not worried about it just did not understand it, now I do.

No its nowhere near any flood location and I have never had a claim so was a bit miffed at such an increase. The place is in Woodridge.

I contacted them yesterday and questioned the increase and they reduced it by 8%.

Brian