Landlord & Investor Insurance 

***There is a current embargo on Rent Default cover for New Business only on Landlord products for most Insurers.

The COVID-19 pandemic has been declared a catastrophe by the Insurance Council of Australia and decisions being made by all Governments is having a profound effect on our economy. One area being hit hard is the domestic rental market.
 
Considering the current circumstances and the associated uncertainty it creates, the difficult decision to temporarily suspend the Rent Default optional benefit for any new business, as well as for any new endorsements to existing policies. This came into effect in March 2020.

Existing policies will retain the cover and new policies will continue to offered for Landlord Insurance without a Rent Default option. 
 
This was a difficult decision for all underwriters to make and is a similar approach to putting embargoes in place when bushfires are approaching. It will be reviewed as more information comes to light about how successful Government and community actions have been in dealing with the pandemic.***