Just curious if anyone had experience in this. My tenants moved out with 2 day notice and paid one week rent. Does anyone know if landlord insurance cover in this scenario? I have RentCover Ultra policy.
Given the situation they had to go back to understandably go back to their country. So, it is ok from my side. Just curious if insurance should cover for loss of rent for breaking lease scenario.
Thanks. I did. Its hard to read through it to get clearer picture. Hence, asking the community on their experience in such scenario. Usually its all relating to damaging the property.
What has been your experience?
Doesn't matter about anyone's experience, it is laid out what they will, and will not, cover.
Wouldn't this fall under your real estate agreement? Not landlord insurance. I know 100% this will be listed in your RE agreement.
Speak to your real estate agent and he will tell you instantly. Especially if your RE has the bond.
Speak to your real estate agent and he will tell you instantly
No insurance wont cover it anywhere in Australia.
You get to keep their bond (if any). That's about it.
Well it turns out it is covered in RentCover Ultra. I spoke to their customer service. I am going through claim process now. Lets see. Will keep everyone updated.
Fyi: sorted. Insurance indeed covers for early break of leases. They give upto 6 weeks loss of rent.
It seems like it's not so common knowledge. Just make sure you don't release the bond until your m you get advice from your insurer.
thanks for the update op!
Read your PDS: https://www.rentcover.com.au/getmedia/6b211525-2bf5-425b-92d…