Insuring Your Rental Property

Rental Property Insurance is a Hot topic at the moment within the Insurance industry, particularly as Insurers start to discover the full extent of the damage caused through Methamphetamine Contamination.

Some insurers have responded by excluding P Contamination and damage altogether, while others have created limits within their policies in an effort to reduce the exposure.

This is particularly stressful for Landlords and is compounded by the fact that most prudent property managers are requesting P Testing at least every 12 months or at the change of tenancy.

Currently the policies provided by RMA Financial to Captivate Homes have no sub-limit for P Contamination. The policy is underwritten through Vero insurance on their preferred and exclusive broker wording. It is the only one we are aware of in the market that does not restrict the coverage available for this type of loss.

In addition, you are insured from when damage has been discovered, rather than occurred. This is the intention of the policy, although each claim will be assessed on its individual merit.

Josh Adams – RMA Financial