There are plenty of misconceptions floating about concerning landlord insurance. Here is a common one doing the rounds. Read on to sort the fact from fiction…
Ever wondered where some of the ‘facts’ about landlord insurance have come from? So do we! Sometimes we are left scratching our heads about some of the misconceptions we hear, but when we start to hear the same oddities more frequently, we know it’s time to set the record straight.
Pets must be named on the lease.
Cover for pet damage in landlord insurance policies is not standard, in fact, not that many insurance providers offer the cover. And for a number of those that do, the conditions can be a tad onerous.
At EBM RentCover we not only offer cover for domestic pet damage (up to $65,000) in all landlord policies except Householders Rental, we don’t impose restrictive conditions.
While the pet must be owned by the tenant, we don’t need the pet to be named on the lease. This gives landlords peace of mind in knowing that, if their tenant’s pet damages the rental and the tenant doesn’t make good, their insurance will – whether they knew there was a pet living at the premises or not.
There aren’t any extra inspection requirements attached to this cover either. Landlords or their agents just need to inspect the property within six months of the initial lease and then at least annually thereafter.
Platinum Property Management Group is a partner of EBM Rentcover.
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*This article is an exert taken from an EBM Rentcover article. While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you need us we are there, contact 1300 781 559 if you have any questions.GET A RENTAL APPRAISAL