Protect Your Property with Landlords Insurance

Recent events including fires and severe storm damage have been a wake-up call: having the right landlord insurance isn’t optional, it’s essential.

It’s important to note that insurance for a rental property is very different from the coverage you’d have for your own home. If you’re renting out, you need a policy tailored for landlords that covers both building and contents.

Understanding Your Coverage

Not all policies are created equal and with so many options out there, it’s easy to assume you’re protected, until you’re not. One of the most common blind spots? Tenant-caused damage.

Ask your insurer this critical question:

“If my tenant causes damage – whether it’s accidental, deliberate, or catastrophic – am I covered, and to what extent?”

Another common blind spot is loss of rent, which can occur due to a number of reasons including property abandonment, break-ins or vacating a tenant on malicious grounds.

Don’t leave this to chance. Comparing policies and understanding the fine print now can save you thousands later.

Why It Matters

Your property manager can help with maintenance and tenant issues, and can also assist in setting up your landlord insurance, but they cannot give insurance advice. That’s why it’s up to you to review your policy carefully. Imagine discovering after a fire or flood that your coverage falls short, that’s a financial nightmare no landlord wants.

Your rental property is one of your most valuable assets. Protecting it properly isn’t just smart, it’s non-negotiable.

What’s New in 2026?

The insurance game has changed. Here’s what you need to consider:

• Rising Climate Risks: Canberra has seen more extreme weather with hailstorms, flash floods, and bushfire threats. Does your policy cover these?
• Short-Term Rentals: Hosting on Airbnb? Many standard policies exclude short-term tenants. Check before you list.
• Inflation Impact: Building costs surged. Make sure your policy reflects current replacement values, not outdated estimates.

Don’t wait for disaster to strike. Take the time to review your policy and confirm you’re covered. It’s the easiest way to protect your property and your peace of mind.