Block of Units Insurance

Protect your property investments with Landlord Insurance from our experienced brokers. We provide tailored coverage and expert advice to suit your unique needs.

Block of Units Insurance

Protect your property investments with Landlord Insurance from our experienced brokers. We provide tailored coverage and expert advice to suit your unique needs.

Block of Units Insurance including Landlord Insurance Protection

LANDLORD INSURANCE BROKER

As a property owner, it is extremely important to take precautions to ensure the safety of your building. One such measure is to insure your property under block of units policy.

Block of units insurance is a type of insurance coverage that provides protection for buildings or complexes that are comprised of multiple units or apartments but that are no strata titled. This insurance policy typically covers accidental damage, theft, fire, flood, and other incidents that may cause damage to the property. It’s crucial to note that block of units insurance can vary from one provider to another, with different levels of coverage and add-ons available. As such, it’s essential to assess not only the policy’s cost but also the inclusions and exclusions of each policy to determine which best fits your needs.

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What Does Block of Units Insurance Cover?

Fire

Purchasing a Block of Units insurance coverage for your building can provide essential protection from various hazards such as bush fire, grass fire, accidental fires, and arson. This kind of policy safeguards your investment, and ensures that any damages that may occur are covered.

Storm Damage & Flood

Arguably the most common claim made under any a property insurance policy is damage caused by storms. Inclement weather conditions such as heavy rain, strong winds, lightning strikes and hailstorms can wreak havoc on a property, leaving it battered and damaged. Storm damage claims can be extremely expensive, as repair bills can easily amount to thousands of dollars, leaving landlords in a financially precarious situation.

Injury to tenants

Whether it is a slip and fall incident, an injury caused by faulty equipment, or something else entirely, injuries can be both painful and costly. By choosing a  policy that includes Public Liability coverage, you are taking a proactive step towards protecting yourself, your tenants, and your property in the event of an accident.

Tenant Default of Rent

Rent Default Insurance cover means that you can receive guaranteed rental income in case your tenants are unable to pay their rent. This insurance offers you protection against financial losses due to tenant defaults and helps you avoid potential legal and eviction costs. By having this safety net in place, you can focus on enjoying the benefits of being a successful landlord without the added stress and uncertainty of missed rent payments.

Tenant Damage

With our insurance policies, rest assured that you will be covered against any malicious or intentional damages. Our policies come with an automatic inclusion of this benefit, meaning that you can enjoy peace of mind knowing that your property is protected.

Lost Rental Income

One such unfortunate incident could be a fire that damages your property and makes it uninhabitable. In such a situation, your tenants may be exempt from paying rent, but it is important to consider how that loss of rental income would impact your finances. This insurance will provide you with the financial support needed to pay for your expenses during this period.

What is typically not covered under Block of Units Insurance?

Public Liability Insurance Broker

War

Public Liability Insurance Broker

Old Age

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Wear and Tear

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Action of the sea

Public Liability Insurance Broker

If the property is vacant

Public Liability Insurance Broker

Mould - poor ventilation

Public Liability Insurance Broker

Bird, Insect, Rodent Damage

Public Liability Insurance Broker

Pre-existing damages