Insurance & Security

INSURANCE – Human nature is not quite what it used to be and the increase in claims against landlords for injuries sustained within rental homes has been phenomenal which is probably why Legal Liability Insurance is MANDATORY in Qld.  In addition there is an increase in the number of defaulting tenants or tenants who abscond or “break their leases”. We also have 1st hand experience with houses that have been partially destroyed or damaged by fire.  Although both Landlord and Building Insurance are “optional extras” we do strongly recommend the need to have both, the Landlord Insurance covering you in the event of a defaulting or absconding tenant and Building Insurance for damage to the home as a result of fire, water etc. Please remember that many of your homes’ features such as carpets, curtains, dishwashers, hot water systems etc can be regarded as contents and are not necessarily covered by building insurance in the event of damage or ruin. Most landlord policies do have a contents cover within.

SECURITY – Tenants are entitled to be able to insure their contents. Should insurance cover be declined as a result of a failure of the home to meet an average insurance company’s security requirements, the owner would be obliged to upgrade the level of security. In most instances and dependant on the dollar value of cover the tenant requires, this most likely refers to a requirement for dead locks on external doors and windows.