Insured in 3 minutes
Our technology identifies info about your investment property to get you covered sooner. 3 minutes to Landlord insurance, that’s smart.
Cover the right stuff
We couple the info you give us with data about your property so you can select the cover that works for you. Explore insurance with greater confidence with Honey.
The wiser choice
Honey covers your investment property for the essentials, and helps you mitigate your financial risk. We can cover your house, even if someone else calls it a home.
Tenants come and go, but cover for clever landlords never goes astray
Smarter questions you can ask about Landlord insurance
Landlord insurance can cover both the building and the contents of your investment property in the case that they need repair, rebuilding, or replacement after an insured event (a fancy way of saying a specific event covered under your policy). This includes cover for loss or damage from severe weather events such as cyclones, floods, storms, and bushfires. Landlord insurance can also help protect against things like theft or damage by a tenant, lost rent, and legal liability.
There are several differences between Landlord and Homeowners insurance, the main difference being that Landlord insurance provides protection for an investment property you are renting out and not living in, whilst Homeowners insurance is for your primary residence - the place you live in and call home.
Homeowners insurance covers the home and/or contents of the house you permanently live in (commonly called a “dwelling”), the things (contents) in your house, and your legal liability related to the investment property. It does not cover the risks that come with having a tenant living at your investment property, such as tenant damage and rent default, making Landlord insurance relevant to cover any investment property that you permanently rent out.
Firstly, it’s great that you have chosen Honey insurance to cover your primary residence - the place you live in and call home. Landlord insurance should not be used to cover your primary residence, however if you have an investment property, Honey Landlord insurance could be an option. Landlord insurance can protect your investment property from the risks that come with having a tenant living at your investment property. Additionally, if you’ve borrowed money to buy your investment property, your financial institution may require you to take out insurance on the investment property.
If you take out a Landlord insurance policy with Honey, when your tenant is in default, we may pay the net rental income lost up to $5k, minus any bond entitlement. If your property is damaged by an insured event and is being rebuilt or repaired such that the tenant can’t live in it, we may pay for loss of rent on the insured property for the time it is unoccupied (for up to 12 months and up to 10% of your sum insured). This benefit is automatically included in your policy and subject to terms and conditions in the PDS.
Your investment property will continue to be insured under a Honey Landlord policy against insured events even if it becomes unoccupied. You may be required to pay an additional unoccupied excess in the event of a claim, but you can rest easy knowing the investment property remains insured. We consider your investment property unoccupied if no one has been living in it for more than 60 consecutive days or if someone stays there on average for less than one night a week during the 60 day period.
