Insurance: always read the fine print

Have you taken out landlord insurance? It’s an extra layer of protection that we recommend to all of our owners. But not all landlord insurance policies are the same.

Here are five things you need to check before you sign on the dotted line:

    1. Always read the Product Disclosure Statement. This document is available for you to read and contains a detailed description of how the policy will work for you.
    2. Make sure you are covered for acts of nature, particularly if you live in an area that is prone to certain conditions. These can include:
  • Storms
  • Flooding
  • Earthquakes
  • Tsunami
  • Civil Unrest.
    1. Compare which contents are covered. Does your policy cover things like:
  • Carpets
  • Curtains
  • Household goods
  • Furnishings
  • Domestic appliances?
    1.   Find out what building aspects are covered by the policy. These can include:
  • Gas or plumbing
  • Pipes or cables
  • Fixed appliances
  • Fixtures and fittings.
  1. Always read the fine print. A low monthly payment may sound like a great idea until you find out how high the excess is. Ring around and compare the intricacies of each policy