As society becomes more litigation-conscious, the insurance industry is growing increasingly strict for both landlords and property managers alike.
To ensure we at Arbee Real Estate have the right indemnity insurance protection, we’ll need information on your buildings and landlord protection insurance for the properties we manage for you.
As a business, we require all buildings we manage to have public and legal liability cover. We may also require additional cover if you have a strata title building, as your strata insurance may well only apply to the outside of the buildings and their communal areas.
To stay safe and remove risk from the equation, our insurer advises you check your current coverage thoroughly. Your landlord insurance should cover you for a minimum of $10,000,000, but the ideal amount for maximum protection is $20,000,000.