RentCoverUltra
Even the best tenants can have difficulties or accidents that can result in property damage and lost rent. RentCoverUltra covers you against theft and damage (accidental or malicious) by your tenants or their guests up to $65,000. It also covers rental income loss due to unpaid rent (depending on the circumstances) or vacancy while insured damage is repaired.
Ideal for permanently let units or townhouses, RentCoverUltra includes cover against ‘defined events’ such as fire, storm, flood and water damage as well as liability up to $30,000,000, so you won’t need a separate contents policy.
If you are insuring a house, you may like to consider RentCoverPlatinum which includes a comprehensive building policy as well as the tenant-related risks of RentCoverUltra.
What is covered by RentCoverUltra
| Loss of Rent due to: | Cover |
| Denial of Access | 52 weeks |
| Prevention of Access | 52 weeks |
| Default of Rent | 6 weeks |
| Departure without notice | 6 weeks |
| Breaking of lease | 6 weeks |
| Malicious Damage¹ | 52 weeks |
| Accidental Damage to Contents¹ | 52 weeks |
| Accidental Damage to Building | 52 weeks |
| Theft by Tenant¹ | 52 weeks |
| Hardship | 6 weeks |
| Death of a Tenant | 52 weeks |
| Defined Risks to contents (Fire, storm and flood etc.)² | 52 weeks |
| Damage & Theft (building) | |
| Malicious Damage | $65,000 |
| Accidental Damage | $65,000 |
| Theft by the Tenant | $65,000 |
| Damage & Theft (contents) | |
| Malicious Damage¹ | $65,000 |
| Damage caused by Tenant’s pets | $65,000 |
| Accidental Damage¹ | $65,000 |
| Theft by the Tenant¹ | $65,000 |
| Defined Risks (Fire, storm and flood etc.)² | $65,000 |
| Legal Costs | $5,000 |
| Legal Liability | $30,000,000 |
| Professional fees due to Tax Audit | $1,000 |
| Workers’ Compensation (WA) | Included |
Excess
| Loss of Rent | Nil |
| Malicious Damage | $400 Per Claim |
| Accidental Damage | $400 Per Event Max. 2 |
| Theft by the Tenant¹ | $400 Per Claim |
| Legal Expenses | Nil |
| Owners Liability | Nil |
| Contents fire and perils | $200 per claim (except earthquake $250 and cyclone $500) |
¹ Contents for Malicious Damage, Accidental Damage and Theft by the Tenant refers to those items specified in the policy. Malicious Damage for contents items supplied by the landlord for the tenants’ use can be insured for a small additional premium.
² Defined risks (fire, storm, flood and water damage etc.) applies to contents items supplied by the landlord for the tenants’ use.
Please refer to the Product Disclosure Statement for full details.