Dear property owner,
We recommend Real Landlord Insurance to all our property owners, and this news concerns all owners who are currently enrolled with the Real Landlord Insurance policy and to owners who are currently thinking of obtaining Real Landlord Insurance.
Real Landlord preferred policy represents great value for money to landlords at a cost from 93 cents a day (including all compulsory government levies and GST).
In order to continue to provide landlord preferred policy and landlord multi tenancy policy at this great value for money price, Real Landlord has had to make some minor changes to the policy as it is no longer sustainable to offer any cover related to methamphetamine contamination under these policies.
You may be interested to learn that only around three per cent of the claims Real Landlord pay out on these policies are related to methamphetamine contamination, however they constitute the highest value claims. This has made continuing the methamphetamine coverage unsustainable.
As a result, Real Landlord will no longer include methamphetamine contamination coverage on any future new business and renewal policies. All properties renewed from October will reflect this update.
Please review your existing building policy to ensure you have the appropriate levels of cover for your requirements.
For 93 cents a day, Real Landlord Insurance will still cover for:
- Loss of rents
- Landlords contents left at the property for the tenants use
- Intentional damage
- Landlords legal liability
Some highlights of the benefits for REAL Landlord Insurance cover:
- Only one excess deducted if it is deemed to be one event
- The landlord retains the bond from loss of rents claims only for the purpose of re-letting the property.
- Bailiff costs – up to $300 per claim
- Change of locks – up to $300 per claim
- Removal of rubbish – up to $200 per claim
- Pet damage – $2,000 (Cat/dog on the tenancy agreement, name and breed and agreed on agency agreement)
- Dedicated team at REAL to provide you with the best service from inception of your policy to claims being promptly settled
If you would like to discuss this, please contact your property manager for more details.