Landlords protection summary
| Description of Cover | Limit of Cover | |
|---|---|---|
| Loss of Rent – Prevention of Access | 6 weeks | |
| Loss of Rent – Accidental Failure of Public Utilities | 6 weeks | |
| Loss of Rent – Tenant Vacating Without Notice | 6 weeks | |
| Loss of Rent – Eviction of Tenant for Non-Payment | 6 weeks | |
| Intentional damage by tenant or paying guest | $25,000 | |
| Vandalism by tenant or paying guest | $25,000 | |
| Theft of contents by tenant or paying guest | $25,000 | |
| Major malicious damage by fire or explosion (‘what we will pay’ page 4) | your home sum insured |
It is important to note that the new policy has additional landlord obligations which increase the standard of care required, and these are required for a successful landlords protection claim.
Normal loss of rent cover (12 months) remains for situations where the property cannot be lived in due to a loss to the home, eg a fire that renders the home inhabitable.
This is not an exhaustive list of the changes to the policy but rather a high level summary. For full details of cover, benefits, conditions, and exclusions please see the policy document Initio landlord and holiday home policy NZ1811