What can it cover?
Steadfast landlord insurance can provide you with extensive protection if your investment property suffers loss or damage. And, unlike some other policies, Steadfast landlord insurance automatically includes some additional benefits – and is flexible enough to cater for both short-term and long-term rentals.
The exact cover you can receive depends on the policy that you take out. But to give you an idea, here are some of the benefits a Steadfast landlord insurance policy may include:
|Automatic cover for flood and fire or explosion.
|Automatic inflation adjustment if you need to make a buildings or contents claim.
|Liability cover of up to $20 million for injury or loss of life to a third party, or loss of a third party’s property on a building you own.
|Cover for loss or damage caused by tenants or their visitors (exclusions apply).
|Automatic cover up to $10,000 for damage to landlord’s contents – like carpets, curtains, washing machines and portable furniture – and the option to increase cover for greater amounts.
|Cover for loss or damage caused by electric motor burnout for appliances up to 15 years of age.
|Catastrophe cover up to an additional 15% of the building sum insured, for declared natural disasters.
|Tax audit cover (cover options of $2,000 or $5,000).
|Optional cover for loss or rent as a result of an absconding tenant.
|Up to an additional 15% of the building’s total sum insured, to cover demolition and removal of debris, and architects and engineering fees.