landlord insurance

[Leslie73]

Hi All, I am a new host and would like some advice on the best Insurance Company in Australia to provide landlord Insurance.  Also, it is difficult to get public liability cover for anyone you employ to work on the building (ie cleaners, tradies and the like).  I'm told that they would need to have their own insurance cover.   Any suggestions would be most welcome.

Thanks

[Loretta2]

I just changed my landlord isurance to regular contents insurance for my apartment in Bondi. I rang my inurance company (APIA) a couple of years ago and asked if an Air BnB booking constituted an official lease, and they said yes.....but last week when it was due for renewal I asked again & the woman at the other end agreed with me that it was unlikely they'd honour it- insurance companies always find loopholes.  As far as I know, all tradies have their own accident insurance unless they work for a company who covers them.

[Leslie73]

Hi Loretta, thanks for your reply.  I too have been told two different stories by two different people from the same insurance company. Doesn't give you a great deal of confidence.  I will make sure any cleaners/tradies have their own insurances prior to employing them.

Regards

Leslie

[Mark239]

Hi Leslie,

Great question. So many people overlook the insurance aspect of airbnb hosting.

Most landlord insurances are based around the traditional model of long term rental with companies such as Terri Scheer, AAMI etc even Coles insurance offers lord insurance offering good options in this area. For these types of insurances you could check out http://www.canstar.com.au/landlord-insurance/outstanding-value-landlord-insurance-2016-award-winners....  Be careful in this area as you may not be adequately covered by these insurances.

The insurance industry in Australia is now starting to provide insurance products aimes at the short term rental market and airbnbs such as www.sharecover.com. which is worth looking into.

In the area of public liability cleaners, tradies etc should have their own public liability insurance.

Please note that I am not affiliated with any insurance company and this comes from my own experience only.

thanks 

Mark

[Leslie73]

Thanks Mark, I actually ended up going with Terri Sheer, as they seemed to be the most helpful.  I will definately check out the websites you provided and dig a little deeper just in case I need to use that 30 day get out of jail free option  🙂

Regards

Leslie