Landlords
Check your existing house and contents’ policy for rental-property cover – including the policy’s “additional benefits” section. If your rental property’s not covered, you can usually buy a separate policy for damage by tenants or pay for it as an additional benefit on an existing policy.
You can also get cover for loss of rent because of a natural disaster: this can be for up to a year or up to $40,000 depending on the company.
Rugby World Cup
If you’re thinking of making a quick buck by renting out your house to Rugby World Cup fans, then you must tell your insurance company first because it might want to amend your policy. We also advise getting references, having a written tenancy agreement that complies with the Residential Tenancy Act, collecting a bond, inspecting the property before and after the tenancy, and removing all high-value items from the house.
Tip: Most standard policies exclude theft or malicious damage by someone lawfully on your premises (such as a tenant).
Renters
Most contents-only policies we looked at offered tenants $1 million cover for personal liability (this is essential in case of damage to their landlord's property). For a natural disaster most companies offer renters limited temporary accommodation cover of up to 6 months or $5000. With a few companies you may be able to find higher cover of up to 12 months or $25,000 – check with your insurer.
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