What Insurance Do I Need for Owner Occupied with Tennants?

Zarcady on 13/01/2017 - 12:45

Hi guys,

Just abit confused with what type of insurance/s I need.

I own the home and live in the house but renting out the spare bedrooms to tenants. I only want a contents insurance to cover my possessions in the house but specific 2 covers I am looking for are:

  • In the event that the house gets burgled by randoms
  • the event that the house gets burgled by tenants/ex tenants

Do I need a contents insurance and a separate landlords insurance?
Will a standalone landlords insurance be enough in covering break ins by randoms?
Or would a contents insurance with an optional 'Malicious damage/theft by tenants' cover be the correct choice?

I've read multiple PDSs but I wanted to get some input to make sure I'm buying the right insurance for my purpose.

Cheers!

Home & Garden

Comments

  • boomramada on 13/01/2017 - 12:48

    Just a get a home and content insurance, and ask for bond for tenants.
    but if your tenants comes and steal your items, which will be not covered :)

    • Zarcady on 13/01/2017 - 12:58

      Yep, I received the bond which was lodged to RTBA and a tenancy agreement with the tenants but it's nowhere near enough to cover my TV and speakers which is in the lounge room and is the main cause of concern if such an occasion were to arise.

  • CyberMurning on 13/01/2017 - 13:21
    -2

    hire bikies to stay overnuight once maybe cheaper

    • Zarcady on 13/01/2017 - 13:25
      +1

      Maybe best to rent the room out to bikies exclusively. Could be the all-in-one solution I've been looking for.

  • StewBalls on 13/01/2017 - 14:03

    Should be standard H&C insurance, however you must disclose the details of your lodgers to your insurer.

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