Landlord Insurance
Landlord Policies are designed to protect landlord's:
- Liability as Owners of a property
- Contents such as furnishings and electrical equipment
- Loss of rent in a situation whereby the property becomes uninhabitable
Do note if is loss of rent you are looking for, the cover is somewhat limited, for example, the caps are as follow:
- Zurich - HKD10,000 a month, max 3 months.
- MSIG - HKD80,000 or 3 months rent, whichever is lower
- Prudential - HKD20,000 max HKD60,000 pa.
- FWD - Options for HKD80,000 & HKD120,000
- AXA - Options for HKD60,000 & HKD90,000
Take a look at the leading landlord policies in the market and bear in mind you are better off with "All Risk" than purely 'Fire' Buildings cover as with All Risk policies, you simply need to show damage or loss has occurred. With Fire policies you need to link the loss to a defined peril.
If you are a landlord in HK there is probably no more cost effective way to insure a property against that risk of loss or damage than by taking a landlord policy. If you have a mortgage your bank will want a copy of this property and we will need to be careful to have the insurer clearly specify the sum insured (for loan protection purposes) required by your bank.
Call the helpful crew at Navigator 2530 2530 or email Mr Robin Brown or Ms Romi Gill at:
for any help you'd like with landlord or any other form of insurance.
Zurich LandlordCare Insurance Plan - Documents
| Table Of Benefits | Premium Table | ||||
| Coverage | Maximum Benefit HK$ |
|
Annual Premium (HKD) | ||
| Basic Coverage | Gross Area (sq. ft.) | Basic Coverage | Building (Optional) | ||
| Owner and personal legal liability | 500 or below | HKD750 | HKD500 | ||
| - Accidental bodily injury or property damage to third party and legal costs | HKD10,000,000 | 501-700 | HKD900 | HKD630 | |
| Accidental damage to home contents protection | 701-1,000 | HKD1200 | HKD1,020 | ||
| - Covers any accidental loss destruction or damage to your home contents | 1,001 - 1,500 | HKD1500 | HKD1,530 | ||
| Gross floor area (sq. ft.) 700 or below | HKD750,000 | 1501-2000 | HKD1950 | HKD2,040 | |
| 701 to 1,500 | HKD1,000,000 |
Basic Coverage
|
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| 1,501 or 2,000 | HKD1,250,000 | ||||
| 2,001 or above | Individual Consideration | ||||
| Free extensions | |||||
| Loss or damage of home contents during home removal | HKD100,000 | ||||
| Loss or damage of home contents during home renovation (renovation period not exceeding 2 months) | HKD100,000 | ||||
| Removal of debris following accidental damage to home | HKD20,000 | ||||
| Damage by firemen as a result of execution of duties | As per sum insured | ||||
| Green living cover | extra 10% of the value of a new replacement of the damaged or lost energy efficient product with “Energy Efficiency Label” | ||||
| Loss of Rent | loss up to HK$10,000 per month if your property is made uninhabitable (maximum 3 months) due to accidental damages | ||||
| Emergency assistance services | |||||
| Plumbing or electrical assistance | Hassle-free cashless approach - Referral service | ||||
| Other free referral services such as home nursing care, household appliance repairing, home cleaning and pest control, etc. | Referral service | ||||
| Optional coverage | |||||
| Building | |||||
| - Accidental damage to building | Rebuilding Cost | ||||
| Free extensions | |||||
| Sub-limits: | |||||
| Landslide and subsidence | Rebuilding Cost | ||||
| Professional architect consultation fees | 5% rebuilding cost | ||||
| Removal of debris following property damage | 5% rebuilding cost | ||||
| Excesses | |||||
| ~The excess under Home Contents Section is the first HK$250 each and every claim. | |||||
| ~ The excess under accidental damage to building section is the first HK$3,000 each and every claim (except fire, lighting and explosion). The excess under landslide and subsidence extension is the first HK$10,000 or 10% of adjusted loss each and every claim, whichever is greater. | |||||
Prudential Pruchoice Documents
| Table Of Benefits |
Maximum Benefits Payable Per Year (HK$) |
|
Premium Table | ||
| Section 1 Household Contents | Annual Premium (HKD) | ||||
| Household Contents | Maximum Limits | Gross Area (sq. ft.) | Basic Coverage (Plan 1/Plan 2) | Fire Insurance on Building | |
| Household Contents - New for Old replacement cover | (Plan 1) HKD500,000 | 700 or below | HKD590/840 | 0.70% | |
| HKD50,000/Item | 701-1200 | HKD800/1060 | 0.70% | ||
| Extensions | Over 1200 | HKD(Request)/1400 | HKD1,020 | ||
| Loss or damage of home contents during home removal | HKD50,000 |
|
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| Loss or damage of home contents during home renovation (renovation period not exceeding 60 days) | HKD50,000 | ||||
| Removal of debris following accidental damage to home | HKD5,000 | ||||
| Damage by firemen as a result of execution of duties | HKD5,000 | ||||
| Lyoyalty Bonus - Incresase in Sum insured each year - FREE (Max HKD200,000) | HKD50,000 | ||||
| Section 2 Loss of Rent | |||||
| if your premises is uninhabitable due to accidental damage to contents as insured |
HKD20,000/Month up to a maximum of HKD60,000 pa
|
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| If your tenant dies as the result of murder or suicide (Suicide by Cutting ,Hangling Jumping or Charcoal Burning) and no one is paying the rent | |||||
| If your tenant fails to pay rent and you have taken legal action, obtained a court judgement and could not receive the payment within one month of the court ruling | |||||
| Section 3 Property Owners Legal Liability | |||||
| Any claim against you as the owner of the insured premises (including Common Areaas) in the event of an accident causing a third party bodily injury or property damage | HKD10,000,000 | ||||
| Section 4 Building Structure | |||||
| Fire cover: ie Fire, Explosion, malicious damage, burglary and water damage. There is no 'All Risk' cover for accidental damage | Sum Insured | ||||
| Removal of debris following property damage | 10% of sum insured on building structure | ||||
FWD's 'Landlord Protection Insurance' is comprised of three sections:
Section 1 - Rent Protection (Compulsory Cover)
Coverage
- Plan A - HKD 80,000
- Plan B - HKD120,000
3 months loss of rent cover & 3 months loss or rent when premises uninhabited and under renovation
HKD10,000 for repair of property deliberately damaged by tenant
The cover here is for the cost of making good damage done by the tenant to the insured premises, bearing in mind a possible offset by way of the rental deposit held by the landlord. (Note: A claim is only possible once you have successfully obtained a court judgement against the tenant)
Section 2 - Legal Cost and Expenses (Compulsory Cover)
Coverage - HKD25,000
This section provides reimbursement for the legal costs and expenses associated with taking action against the tenant to:
- recover unpaid rent or to
- regain possession of the insured premises
Section 3 - Owners Liability (Optional Cover)
Coverage - HKD5,000,000
This section covers you as the property owner, if you become legally liable for a claim against you for
A) accidental bodily injury to third parties;
B) accidental loss of or damage to third parties’ properties;
C)legal cost and expenses recoverable by any claimant from you and all reasonable cost and expenses incurred with FWD's written consent.
Annaul Premium
Plan A - HKD 980
Plan B - HKD1480
Optional Liability cover - HKD250
Call the helpful crew at Navigator 2530 2530 or email Mr Robin Brown or Ms Romi Gill at:
for any help you'd like with landlord or any other form of insurance.
Below is a summary of how we see the key areas of difference between the four leading plans.
Please talk to us about your prime concerns.. for example some of these plans allow you to also insure the rebuilding cost of your property.
Call the helpful crew at Navigator 2530 2530 or email Mr Robin Brown or Ms Romi Gill at:
for any help you'd like with landlord or any other form of insurance.
AXA's SmartHome Plus product includes an option for landlord cover.
See below for more information and the full document download.