C&G’s Guide to Landlord Insurance

Rental properties are a hot commodity in 2020, as more Australians choose to lease their place of residence rather than purchase. If you are a lucky property investor, it’s more crucial than ever to consider landlord insurance to protect your asset from unforeseen damage. This new blog from C&G lists the factors you should consider including in your insurance policy. As always, our friendly and expert team are here to answer your questions… and point you in the right direction when it comes to insurance!

Cover against natural damage

It may seem unlikely, but it’s always a good idea to seek coverage from damage brought upon by natural disasters. These can include fire, storm, and flooding. Melbourne’s weather is always unpredictable – we’ve collectively experienced the devastating effects of the bushfires, and flooding can become very common when we enter the colder months.

Building Cover

Familiarise yourself with your property’s insurance policy as-is, and (if relevant) what damages the owner’s corporation insurance will cover. This may include pipes, cables, fixed appliances, gas and plumbing systems.

Contents insurance

This should always be considered, even if you are leasing out an unfurnished property. These are items not covered by the building’s insurance, and include carpets, curtains, light fittings and appliances. Even if your tenant has a stellar application with no prior issues, accidents can always occur involving guests or pets. Damage to contents is not always a tenant’s fault either, as theft can come into play depending on the security of the property.

Rent default

It’s the most important aspect of a lease agreement – for both the tenant and the landlord. Many landlords are cashflow sensitive, and unexpected periods of vacancy or tenant non-payment can put them at a serious disadvantage. Utilising an estate agency to manage the selection of a vetted tenant can go some way to minimising your risk as a landlord. It’s important that landlords insure themselves against rent default to keep their portfolio healthy and their credit glowing.

Chisholm and Gamon are seasoned real estate professionals who have supported landlords, tenants and homeowners across Bayside Melbourne for multiple generations. Our team is well-versed in all areas of property management and can support you to find appropriate landlord insurance. Got a question regarding your asset? Talk to us today!


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Elwood Vic 3184
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Black Rock Vic 3193
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Port Melbourne Vic 3207
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