What Does Rental Insurance Cover?
Rental insurance is designed around tenant-related rental risk. Exact benefits depend on the issued policy, so use this guide to frame the questions you should ask—not as a substitute for your schedule and wording.
Tenant default and rental-income loss
Eligible unpaid rent may be covered after the defined claim trigger and any applicable excess or waiting period, up to the stated amount and benefit period.
Eviction and legal fees
Approved legal costs for recovery or a lawful eviction may be included within a separate limit. Prior authorisation, approved providers and procedural compliance may apply.
Tenant damage—where applicable
Some options may include limited malicious or accidental tenant damage. This is not the same as buildings insurance, routine maintenance or fair wear and tear.
Policy limits and excesses
Check the maximum monthly rent, number of covered months, legal and damage sub-limits, aggregate limit, excess and any amount the landlord must absorb.
Waiting periods and start dates
A policy may delay when particular benefits become claimable. Losses that began before cover or during an applicable waiting period may not respond.
Important exclusions
Common areas to check include pre-existing arrears, invalid leases, undisclosed disputes, vacancy, fraud, wear and tear, maintenance, insured building perils and failure to follow claims procedures.
Frequently asked questions
Does it replace buildings insurance?
No. Buildings cover generally responds to insured physical events; rental insurance focuses on defined tenant and income risks.
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