Loss of Rent Cover – a general definition
Where your Unit suffers damage accepted as a claim under the Strata policy, and is unable / unfit to be occupied for its intended purpose.
This cover is automatically included in most Strata Insurance policies, and is designed to protect the interests of the owner of the property, whether they are owner occupiers or landlords.
When will Loss of Rent respond?
Loss of Rent or Temporary Accommodation will only be considered following a claim made for damage to the building that has been accepted by the insurer.
If there is no property damage, or if the insurer has not accepted the property damage as a claim, then Loss of Rent cannot be considered.
