Rental property insurance protects landlords from risks that fall outside standard home ownership, ensuring you’re covered when tenants, tenancy laws, or unexpected events create financial exposure. Under New Zealand tenancy law, tenants are only liable for careless damage up to four weeks’ rent or the policy excess, leaving landlords responsible for anything beyond that limit. The right policy bridges this gap and provides protection against malicious damage, unpaid rent, methamphetamine contamination, and other significant risks.

Common features include:

• Building cover for fire, storms, floods, natural disasters, and sudden accidental damage.

• Loss of rent if the property becomes uninhabitable after an insured event or if tenants leave without notice.

• Protection for malicious or deliberate damage caused by tenants or their guests.

• Methamphetamine contamination cover, including testing and clean‑up costs.

• Landlord’s contents cover for items such as whiteware, curtains, and carpets.

• Legal liability if someone is injured on the property due to an issue you are responsible for.

• Limited gradual damage cover for hidden internal leaks, depending on the insurer.

Policies often require regular inspections, valid tenancy agreements, and a collected bond to remain valid. Full disclosure is essential - if the insurer is unaware the property is tenanted, claims may be declined. Encouraging tenants to hold their own contents insurance also helps ensure both parties are protected.