Landlord Insurance in Brisbane, Queensland

As a property owner in Queensland, you’ll be aware of the huge importance of having insurance. This one state sees more natural disasters than any other state in Australia, and you’d better believe disaster can strike any time, because it can. If you don’t have insurance, you’ll be in a very uncomfortable position.

But natural disasters aren’t the only kind of disaster you need to worry about, and that’s especially the case if you decide to rent your home out to tenants. In this situation, your normal home owner’s insurance isn’t enough to cover you, and you need to have specific landlord insurance to make sure you’re fully covered.

Why you need to have landlord insurance

Landlord insurance is a big step up from home owner’s insurance. You can make sure you’re covered for all the same things that home owner’s insurance covers you for, and many additional things as well. In particular, you’ll have much better liability cover when you have landlord insurance.

This is important because there are so many ways you can find yourself in legal difficulty when you are renting your home to somebody. You basically end up being responsible for everything that can possibly happen, with the exception of certain specific criminal acts.

That means a lot of things. If your tenant or anyone else is injured on the property, there is a very good chance that you could be found liable for it. Even if you weren’t found liable for it, the costs of defending yourself against the litigation could be far more than you can afford.

You can also find yourself in trouble for problems created by your tenants. It may not seem fair, and it probably isn’t, but they’re considered to be your tenants. You can try every trick in the book, even making them sign a liability waiver as part of the lease agreement, and it still won’t normally be enough to save you from trouble if your tenants cause harm in some way to a third party.

Landlord Insurance in Queensland

Third party lawyers always look to where the money is when they’re preparing litigation, and they know it’s not likely to be your tenants. It’s true that if the matter makes it all the way through the courts, you could be successful in demonstrating why you’re not liable for the damages, but getting to that point can costs hundreds of thousands. Where are you going to get the money from?

The third party lawyer is not trying to win the case against you anyway. The goal is to make defending yourself against the claim so expensive that you’ll settle out of court because it’s cheaper than fighting.

Reprehensible? Yes. Is there anything you can do about that? No. But it’s not something you will have to worry about if you’re properly insured.

Having landlord insurance can also help you avoid certain types of “loss of income” problems. To put it simply, landlord insurance is as essential for landlords as ordinary home owner’s insurance is for homeowners.

Where to buy landlord insurance in Brisbane

You will get a better value deal on all your insurance when you buy it through Qtrust. This is a different kind of insurance agency. It’s one that takes you and your needs specifically into consideration, tailoring deals that suit your situation. You won’t get some generic boilerplate kind of insurance, you get the real thing.

To find out more about how Qtrust can give you the best value deals on insurance, just call 1300 798 991.

Qtrust provide owner builder insurance for all owner builders in Australia. If you need owner builder warranty insurance or home renovation insurance, give us a call and let us talk you through your best options. We specialise in services for owner builders in NSW, Victoria, QLD and WA.

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