Prevention

Are there gaps in your cover?

Whether you own investment properties or manage them on behalf of clients, it’s easy to assume everything is “sorted”… until something goes wrong.

At EBM RentCover, we work with risk every day. And if there’s one thing we’ve learned, it’s the importance of regularly reflecting on your own risk position. Even the best‑managed properties can develop blind spots over time, especially as processes evolve, responsibilities shift, or documentation isn’t reviewed as often as it should be. 

This quick self‑check is designed to help you uncover any potential gaps. Think of it as a simple moment to take stock and make sure you’re protected where it matters most. 

Have you reviewed your insurance in the past 12 months?

• Has your sum insured been updated to reflect current rebuild costs? 

• Have you renovated, added features (solar, air conditioning, EV chargers), or upgraded appliances? 

• If you’re a property manager, has your rent roll grown and are those clients protected with insurance? 

If nothing has been reviewed recently, there’s a risk your cover may not reflect your current exposure. 

Are your roles and responsibilities clear?

For landlords: 

• Do you understand what your policy covers vs what strata covers (if applicable)? 

• Are you clear on who is responsible for maintenance vs tenant damage? 

For property managers: 

• Are your management authorities and landlord instruction forms up to date? 

• Are processes documented for repairs, complaints and emergencies? 

Unclear responsibilities often become a problem during claims or disputes. 

Could you easily provide documentation if needed?

In the event of an insurance claim, documentation matters. 

• Condition reports up to date? 

• Routine inspection records saved? 

• Maintenance invoices and repair evidence accessible? 

• Tenant communication properly recorded? 

If gathering this information would be stressful, that’s a sign your systems may need tightening. 

How proactive is your maintenance approach?

Small issues can escalate quickly. 

• Are minor leaks, cracks or wear addressed early? 

• Are gutters, roofing and drainage checked seasonally? 

• Are smoke alarms and safety compliance requirements regularly reviewed? 

Preventative maintenance not only protects the property, but it can also prevent avoidable claims. 

Are you exposed to risks you haven’t considered?

Some commonly overlooked exposures include: 

• Renovations that weren’t disclosed to your insurer 

• A change in tenancy arrangements (for example, a property moving from long‑term to short‑term tenancy) 

• Changes in legislation affecting landlord or agent responsibilities 

• Incorrect assumptions about building and contents insurance versus landlord insurance (for example, building or contents cover might not automatically protect against tenant‑related risks such as loss of rent or tenant damage) 

• Incorrect assumptions about strata vs. landlord responsibilities (many people mistakenly believe strata will cover internal damage or loss of rent but it usually doesn’t) 

• Outdated sum insured values 

• Unauthorised occupants or sub-letting 

If your circumstances have changed but your policy hasn’t, it may be worth reviewing. 

Do you know what isn’t covered?

Many issues arise not because someone had no insurance, but because they misunderstood their cover. 

Ask yourself: 

• Do I know my excess amounts? 

• Do I know the limits for loss of rent? 

• Do I understand exclusions? 

• Would I be confident explaining my cover to a client (if you’re a property manager)? 

Clarity reduces surprises. 

So, how did you score? 

If you answered “not sure” or “haven’t checked” to several of these, you’re not alone. Property risks evolve through market conditions, regulation changes, tenant expectations and environmental factors. 

A short review now can prevent a much bigger issue later. 

If you’d like to sense-check your cover or chat about anything related to your policy, we’re here to help. Contact EBM RentCover on 1800 661 662.  

*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 here, contact 1800 661 662 if you have any questions.