If you have invested in a property with the intention of leasing to tenants, landlord insurance is one of the most important purchases you must make. It is necessary however, to obtain the right type of landlord insurance that is specific to your needs and situation. For instance, if your property is a duplex you need landlord duplex insurance. You can get rental property coverage for duplex properties from specialist insurers in Australia.
If you rent your property you want to get maximum insurance cover at great value. For this reason, it is important to understand the different types of cover offered by various insurers. First of all, a duplex is a term given to a unit of townhouses in two lots. It may be divided by a common wall and could be provided with adjacent courtyards. It may also have a common area for exclusive use.
Whether you own half of a duplex or both units, you have specific requirements as a duplex owner and a landlord. In the contract it may be listed as a strata title. Understanding your policy is paramount to ensuring you are protected 24/7 and how you can obtain your insurance benefits.
Understanding Landlord Duplex Insurance
Each state in Australia has specific insurance requirements for strata. Aside from legislative requirements, most insurers provide cover for structural items and fixtures installed by a unit owner.
Whether you are a strata manager or duplex owner, you need to choose the most suitable insurance cover for your best protection. A residential strata plan such as landlord duplex insurance can give you many options for cover.
Personal contents of a unit landlord may be covered against damage from fire, earthquake, and flood. Protection can be based on indemnity or replacement.
Other benefits may also be automatically included such as loss of rent when the unit becomes unfit for occupancy due to damage, and liability to third parties.
Find the best landlord duplex insurance from the best Australian insurers today. Get quotes and compare benefits and costs for real value protection you can depend on from Landlord Insurance HQ today, call 1300 815 344 or request a quote online.