Insurance information in tenancy agreements

As a landlord, you must attach an insurance statement to your tenancy agreement. This statement should include information about your property's insurance, such as whether or not it's insured, the excess amount of any relevant policies, and any information relevant to the tenant's liability for damage to the rental property and shared facilities (if applicable).

You must also let your tenant know that they can request a copy of the insurance policy, so they understand what actions or omissions could invalidate the insurance policy, what's covered by insurance, and the excess payable on the policy.

If any changes occur to the insurance policy for your rental property, you must provide the correct information to your tenant within a reasonable timeframe. Additionally, tenants will be responsible for any damage caused to the rental property by them or their guests, with the cost of the damage up to four weeks' rent or the insurance excess, whichever is lower.

Here's a simple breakdown of the insurance information you need to include in your tenancy agreement:

• Disclosure of whether the rental property is insured or not

• The excess amount of any relevant policies, if insured

• Relevant insurance information for tenant liability on damage to the rental property and shared facilities (if applicable)

• A statement informing the tenant that a copy of the insurance policy is available on request

It's also important to note:

• Any changes to insurance information must be provided to tenants within a reasonable timeframe

• Tenants are responsible for the cost of any damage caused by them or their guests as a result of careless behavior up to four weeks' rent or the insurance excess, whichever is lower

• Tenants on income-related rents are responsible for the cost of damage up to four weeks' market rent or the insurance excess, whichever is lower

• Tenants will be liable for the full cost of damage that they or their guests cause intentionally or that results from an act or omission that constitutes an imprisonable offence.

By including this insurance information in the tenancy agreement, you can ensure that your tenant is aware of their responsibilities and prevent any disputes or misunderstandings in the future.

To read more, visit the Tenancy Services website.