Insurance for property investors
Purchasing an investment property allows you to increase your investment assets, but also increases your liabilities.
Westpac can help to reduce your worries and protect your assets, and your ability to meet your commitments and maintain your lifestyle.
Is there protection as a landlord?
You probably have a standard home insurance policy in place to cover events such as fire, storm, earthquake and burglary. But you also need to protect yourself from malicious damage or theft caused by tenants, or loss of rent if a tenant defaults - all serious concerns for you as the landlord.
Landlord's protection insurance will cover you for:
- Damage to the building caused by malicious damage by your tenant
- Theft of any part of the building or its fixtures and fittings by tenants
- Loss of rent if your tenant defaults in payment
- Denial of access to yourself or your tenant
- Legal expenses
Review your options:
Landlords protection insurance
What if my income is disrupted?
Your biggest concern is probably – what happens if I’m unable to work? It’s important to protect your income so that you can continue to meet your home loan repayments.
With Income Protection Insurance, you will receive a regular monthly benefit if you become disabled because of sickness or injury and are unable to work.
If you’re concerned about how your family would continue mortgage payments if you died or became seriously ill, we also offer Mortgage Secure Insurance which offers 2 types of benefits:
It pays a lump sum (up to $750,000) on your mortgage with any excess amount paid to your estate or surviving policy owner.
An optional Living Benefit (50% of the death benefit) is paid if you suffer 1 of 6 medical conditions: cancer, coronary artery bypass surgery, heart attack, stroke, paralysis and loss of independent existence.
