Landlord Insurance is designed specifically for rental property owners. It protects not only the house itself, but also the additional risks that come with renting to tenants. Unlike standard house insurance, landlord insurance includes cover for tenant damage, loss of rent and other landlord-specific exposures.

What is landlord insurance?

Landlord insurance is a specialised policy for long-term residential rental properties. It covers the physical building against events like fire, floods, and earthquakes, while also protecting landlords from risks that do not apply to owner-occupied homes.

While standard house insurance focuses on homeowner risks, landlord insurance extends cover to include tenant-related damage, rental income loss, eviction scenarios and other risks unique to renting out your property.

Quick summary

Landlord insurance covers rental property risks not included in standard house insurance.
Includes tenant damage, intentional damage and vandalism.
Covers loss of rent due to damage, eviction or abandonment.
Includes meth testing and cleaning cover.
Provides automatic landlord contents cover.
Designed for long-term residential rental properties in NZ.

What extra cover does Landlord Insurance provide?

Damage by Tenants Loss of Rents Meth Contamination Landlord Contents

Tenant damage cover

Standard house insurance may cover accidental damage caused by tenants, but it does not cover intentional damage.

Landlord insurance protects you against both accidental and intentional tenant damage. This includes vandalism, theft, and deliberate damage such as holes punched in walls or damage from unruly gatherings.

Under our landlord insurance policy :

Accidental tenant damage is covered up to your full sum insured.
Intentional damage, vandalism or theft is covered up to $25,000 per event.
Serious fire or explosion damage is covered above the $25,000 limit and up to your full property sum insured.

Cover applies to damage caused by your tenant, paying guests, or anyone occupying the home, including their guests.

Loss of rent cover

Rental income is essential for most landlords. If your property cannot be rented, you may still have mortgage payments and other costs to meet. Landlord insurance includes loss of rent protection in two main scenarios:

Loss of rent due to property damage

If physical damage makes your rental unlivable, we cover:

Up to 52 weeks of rent, or
The loss of rent sum insured you select, whichever comes first.

We automatically include $20,000 of loss of rent cover in all landlord policies, with options to increase this to $40,000 or $80,000.

This applies while repairs are completed following insured damage, such as flood or fire.

Loss of rent due to eviction or abandonment

Loss of rent can also arise when there is no physical damage. If your tenant:

Is evicted for non-payment after falling 21 days behind, or
Leaves without giving the required notice, we cover lost rent for up to six weeks.

This also extends to situations where tenants can legally cease rent payments under their tenancy agreement, such as when access to the property is prevented or essential utilities fail.

Meth contamination cover

Meth contamination is a serious risk for landlords in New Zealand. Cleaning a contaminated property can cost tens of thousands of dollars and may render the home unlivable for months.

Standard house insurance does not cover meth contamination. Landlord insurance includes cover for:

Laboratory testing
Cleaning costs where a positive meth result is confirmed

Meth cover with initio

We provide up to $30,000 for meth testing and cleaning costs.

Loss of rent cover applies over and above this $30,000 limit. We will pay your weekly rent while the property is being cleaned, for up to 52 weeks or up to your selected loss of rent sum insured.

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Landlord contents cover

Many rental properties are furnished or partially furnished. This can include appliances, curtains, rugs, heaters and other non-fixed items. Some landlord policies require contents to be added separately. Our landlord policy automatically includes contents cover.

How much landlord contents cover is included?

We include $20,000 of landlord contents cover as standard. This is the minimum level and cannot be reduced.

If your property is more fully furnished, you can increase this to $40,000 or $60,000.

What is covered?

Cover applies to fixtures and fittings and landlord-owned contents included in the tenancy.

Items five years old or less are replaced with new items.
Items over five years old are paid at present value.

This does not cover your personal belongings.

Frequently asked questions about landlord insurance

Can I reduce the $20,000 landlord contents limit?

No. The $20,000 landlord contents cover is automatically included as the minimum under our landlord policy. This amount cannot be reduced. You are covered for landlord contents up to that figure as standard, with options to increase the limit for more fully furnished properties.

Is furnished property covered under landlord insurance?

Yes. Whether your rental property is furnished or unfurnished, it is covered.

Landlord insurance automatically includes cover for landlord contents such as non-fixed appliances, curtains, rugs and heaters. If the property is fully furnished, you can increase the contents limit to ensure everything is adequately protected

Does landlord insurance cover intentional tenant damage?

Yes. Our landlord insurance policy covers intentional damage caused by tenants.

Intentional damage, vandalism or theft by tenants is covered up to $25,000 per event. In cases of serious fire or explosion damage, cover can extend beyond this limit and up to your full property sum insured.

More information about landlord insurance

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landlord standing in front of rental property holding clipboard

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Guide to landlord insurance in New Zealand