The Importance of Landlord Insurance

As a property management company, Click advise all homeowners renting their properties to have landlord insurance, guaranteeing the protection of their homes. Landlord insurance covers repair/rebuilding, contents, loss of rent, intentional damage, and legal liability. This insurance is crucial to have for instances like natural disasters or theft.

The Importance of Landlord Insurance

Click Property Management recommend Real Landlord Insurance who provide a multitude of policies to cater to different types of cover including contents (eg. furnishings being damaged), intentional damage to the rental property, methamphetamine decontamination and landlord liability (eg. medical expenses if someone is injured in the property). To qualify for Real Landlord Insurance, your property needs to be managed by an approved company who will manage it lawfully to minimise the risks involved in property investment. Another reason to have Click manage your rental!

While any homeowner can get some form landlord insurance, the cover varies. Some insurers ask the landlord to prove thorough tenant checks have been done and all precautions taken to reduce risk (again, another reason to work with a property management company as we have the means and ways to do more thorough checks than many private landlords). This is because there is significant risk of insurance cover being claimed during the tenancy when no background checks have been conducted. Plus, you will also need to provide proof of regular and well documented property inspections.

Recent amendments to the Privacy Act have reduced the amount of information tenants are required to supply when submitting applications. At Click we work within the guidelines of the Privacy Commissioner and Tenancy Practice Service 2 step application process when processing tenant applications. Careful tenant selection is paramount in ensuring the right tenant is selected for the right property to mitigate potential risk.

If you have any questions about landlord insurance, tenant checks or property management in general, get in touch with Click at or call 03 466 7783.

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