Combined Landlord & Building Insurance

Why It’s Essential to assess the insurance needs of your property.

As a property investor or a property manager, ensuring that rental properties are fully protected should always be a priority. While landlord insurance is a critical safeguard for rental income and renter damage, it’s important to determine where and how your building is insured.

If your property is an apartment or unit within an owner’s corporation development, your building insurance may sit with a Strata provider that will insure the specifics of the development.

However, if your property is a standalone residence, you will need your own building policy. Building insurance is designed to protect the property structure so it’s important to understand where your cover sits and how it applies to your investment.

Having combined landlord & building coverage can save you money, time, and provide peace of mind which will offer several key advantages:

1. Lower Excess Fees By bundling your insurance with a single provider, you may be eligible for lower excess fees in the event of a claim. This can significantly reduce the financial burden when an incident occurs.
2. Competitive Premiums Many insurers offer competitive premiums for combined cover, ensuring you get great value. By consolidating your coverage, you may be able to take advantage of cost savings while still receiving top-tier protection.
3. No Gap in Benefits With combined insurance, you won’t have to worry about a gap in benefits. Everything from your property’s structure to the contents within the building will be covered under one policy, ensuring solid protection.
4. One-Stop Insurance Service Instead of managing separate policies, a combined policy simplifies your insurance needs. Having one provider streamlines your administrative tasks and makes it easier to manage your property’s coverage.

Reviewing your policy inclusions and assessing the benefits available is a crucial step in being financially prepared when the unexpected happens.

DISCLAIMER Policies are issued by Certain Underwriters at Lloyd’s and distributed by The Proplab Group Pty Ltd trading as Property Insurance Plus (ABN 59 009 357 582, AFSL 236663). General advice does not take into account your objectives, financial situation, or needs. Please read the relevant Product Disclosure Statement, Financial Services Guide, and Target Market Determination available from us to consider whether our product is right for you. Benefits are subject to terms and conditions, including excesses, limits, and exclusions of your policy.

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