Landlords Insurance Rent Default option is now available

May 19, 2021

During the COVID-19 pandemic, all insurers we deal with placed embargoes on taking the “Rent Default” option under Landlord policies.  They perceived their potential exposure to claims to be too great and declined to take on new risks with this option included. This exposure was compounded when the government placed an embargo on tenant evictions. Existing policies with the cover were able to continue.

We have now been advised from several insurers that the Rent Default option may now be available to take for existing policies and for new risks. The addition of cover can be subject to some acceptance criteria questions.

If you hold a Landlords policy with Rodericks, your schedule will indicate if you have “Rent Default” included.

If you would like to discuss including this optional cover, please contact our Geelong or Werribee Landlord Insurance Brokers.

Note – Rent Default is not available for short term rental risks.