Product Summary:
Section 1. Rent and Legal Expenses
The policy will pay for Loss of Rent caused by:
- Departure of Tenant without notice, including death of tenant up to 6-weeks
- Default of rent payment by tenant up to 15-weeks
- Denial of access by tenant up to 26-weeks
- Prevention of access up to 52-weeks
- Premises untenantable due to Tenant Malicious Damage up to 52-weeks
- Legal Expenses (incurred with Underwriter's prior consent) $ 5,000
Section 2: Contents Insurance
Covering Landlords household goods, internal blinds, drapes, furnishing and light fittings, carpets, domestic appliances and utensils, specifically for the use of tenants.
- Accidental loss or damage to contents, including Malicious Damage and Theft by tenant. Cover includes water damage, storm damage, fire, burglary and fusion,
- Sum Insured - $ 50,000.
Section 3: Building (Limited Cover)
Covering the building of the Insured Landlord against loss or damage resulting from:
- Malicious Damage by their tenant or invitee
- Theft by tenants or their invitees
- Sum Insured - $ 50,000
(you still need to maintain full Building or Body Corporate Insurance - Please call us for a quotation)
Section 4: Landlords Legal Liability
Covering Legal Liability of the landlord as owner of the property for liability arising from:
- Death, bodily injury or illness caused to a person
- Loss or damage to property
- Limit of Liability - $ 20,000,000
please note - the above is a summary only of the covers provided under the MGA Millennium Landlords Policy. Please refer to the Product Disclosure Statement for full details of the policy.
Additional benefits
- Annual premiums highly competitive
- Rent is paid to Re-Let date
- No excess payable on rent claims (unless noted on your schedule)
- Our standard Claims Excesses are minimal
- Malicious Damage Excess is only applied once per claim - not to each damaged item.
- Commencing cover is simple, straightforward and clear
- We are committed to providing fast and efficient settlement of claims.
- Our Underwriters represent excellence in security and our claims service is second to none.
