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Landlord Protector (Macau)
Why choose MSIG?
Loss of Rent Cover
Up to HK$80,000 or 3-month rental income
Property Owner’s Liability Protection
Up to HK$8,000,000
Rental Property Protection
Including fixtures and fittings, furniture and household appliances up to HK$400,000
Household Improvements Cover
Cover improvements and betterments on walls, windows, ceiling, floors and doors up to HK$50,000
Alterations and Repairs Protection
Cover accidental loss of or damage to contents while the insured premises are under alteration or repair
Eco Living Coverage
Additional cover for each eligible lost or damaged item
| Benefits at a Glance | Maximum Benefits Payable Per Year (HK$) | ||
|---|---|---|---|
| Type of plan | Plan A | Plan B | Plan C |
Gross Floor Area (sq ft) | 800 or below | 801-1,000 | 1,001-1,200 |
Saleable Floor Area (sq ft) | 640 or below | 641 - 800 | 801 - 960 |
| Maximum Benefits Payable Per Year (HK$) | |||
|---|---|---|---|
| Type of plan | Plan A | Plan B | Plan C |
Basic Cover | $200,000 in the aggregate, inclusive of all sub-limits under Extra Benefits | $300,000 in the aggregate, inclusive of all sub-limits under Extra Benefits | $400,000 in the aggregate, inclusive of all sub-limits under Extra Benefits |
ContentsAccidental loss of or damage to your contents including furniture, fixtures and fittings and household appliances | $200,000 $15,000 per item, set or collection | $300,000 $15,000 per item, set or collection | $400,000 $15,000 per item, set or collection |
Household ImprovementsImprovements and betterments on walls, windows, ceilings, floors and doors | $50,000 | $50,000 | $50,000 |
| Extra Benefits | Maximum Benefits Payable Per Year (HK$) | ||
|---|---|---|---|
| Type of plan | Plan A | Plan B | Plan C |
Damaged LocksReplacement and installation costs if windows, gate or external door locks and keys are damaged due to burglary or attempted theft | $5,000 | $5,000 | $5,000 |
Removal of DebrisAfter the damage or destruction to your home | $10,000 | $10,000 | $10,000 |
Temporary Removal of ContentsLoss of or damage to contents whilst temporarily removed for cleaning, renovation or repair within Macau | $50,000 | $50,000 | $50,000 |
Landslip and Subsidence ExtensionLoss of or damage to contents directly caused by landslip or subsidence | Covered | Covered | Covered |
Alterations and RepairsAccidental loss of or damage to contents while the insured premises are under alteration or repair | Covered (contract period not exceeding two months and within maximum contract value of $100,000) | Covered (contract period not exceeding two months and within maximum contract value of $100,000) | Covered (contract period not exceeding two months and within maximum contract value of $100,000) |
| Loss of Rent (Basic Cover) | Maximum Benefits Payable Per Year (HK$) | ||
|---|---|---|---|
| Type of plan | Plan A | Plan B | Plan C |
Eco Living Coverage*Additional cover for each eligible lost or damaged item | 1,000 or 10% of the purchase price of the replacing item, whichever is lower | ||
Loss of RentCovers the actual loss of rent incurred after deducting the security deposit paid to you as stated in the Tenancy Agreement | $80,000 or total rent of maximum three months, whichever is the lower | $80,000 or total rent of maximum three months, whichever is the lower | $80,000 or total rent of maximum three months, whichever is the lower |
Covers the Loss of Rent in respect of the following situations:If your premises are uninhabitable due to accidental loss of or damage to contents as insured | Covered | Covered | Covered |
| If access to your premises is prevented by damage to other premises in the vicinity | Covered | Covered | Covered |
| If your tenant dies as a result of murder or suicide and no one is paying the rent | Covered | Covered | Covered |
| If your tenant fails to pay the rent and you have i) taken legal action; and ii) obtained court judgment; and iii) could not receive the payment within one month after the court ruling | $20,000 | $20,000 | $20,000 |
Property Owner’s Liability (Free)Any claim against you as the owner of the insured premises in the event of accident causing third party's bodily injury or property damage | $5,000,000 per occurrence | $6,000,000 per occurrence | $8,000,000 per occurrence |
| Your legal liability as the owner of the insured premises whilst alteration or repair works are carried out at the insured premises | Covered (contract period not exceeding two months and within maximum contract value of $100,000) | Covered (contract period not exceeding two months and within maximum contract value of $100,000) | Covered (contract period not exceeding two months and within maximum contract value of $100,000) |
| Building¹ (Optional) | Maximum Benefits Payable Per Year (HK$) | ||
|---|---|---|---|
| Type of plan | Plan A | Plan B | Plan C |
| Accidental loss of or damage to the structural part of your premises | Sum insured² | Sum insured² | Sum insured² |
| Landslip and subsidence extension – loss of or damage to the structural part of your premises directly caused by landslip or subsidence | Covered | Covered | Covered |
Important Notes:
- The premises or building to be insured must be less than 40 years of age.
- The sum insured for the Building Cover should represent the full cost of rebuilding the insured address (including the costs of fixtures and fittings, renovation, debris removal, professional fees and compliance costs).
- The premises or building to be insured must be for residential use. No industrial or commercial buildings will be covered.
- An enforceable Tenancy Agreement shall be effective on/before the Policy Commencement Date and agree to present the Tenancy Agreement upon request.
* Provides additional coverage of up to HK$1,000 per eligible Household Appliances item, which has been totally lost or destroyed or cannot be economically repaired, enabling the replacement of Energy Label Product with minimum Grade 2 recognition under the Mandatory Energy Efficiency Labelling Scheme
Eligible Household Appliances means room air conditioners, refrigerators, washing machines, dehumidifiers, televisions, storage type electric water heaters, gas cookers and gas instantaneous water heaters.
Energy Label Product means any of the Listed Models of Prescribed Products as defined under the Energy Efficiency (Labelling of Products) Ordinance, Chapter 598 of the Laws of Hong Kong.
In the event of any discrepancy between the English and Chinese versions of any of the above details, the English version shall prevail. For details of coverage, terms, conditions, and exclusions, please refer to the policy wording.
| Gross Floor Area (sq ft) | Saleable Floor Area (sq ft) | Annual Premium (HK$) |
|---|---|---|
Basic Cover | ||
| 800 or below | 640 or below | $798 |
| 801 – 1,000 | 641 - 800 | $1,088 |
| 1,001 – 1,200 | 801 - 960 | $1,388 |
| Over 1,200 | Over 960 | Special quotation |
| Optional Cover | Annual Premium |
|---|---|
| Building | Sum insured x 0.09% |
For All Sections |
|
| Household Contents | Excess Amount (HK$) |
|---|---|
| General item | $500 |
| Landslip and subsidence | $10,000 or 10% of adjusted loss, whichever is greater |
| Water damage | $1,000 or 5% of adjusted loss, whichever is the greater |
| Personal Liability | Excess Amount (HK$) |
|---|---|
| Water damage | $3,000 or 10% of adjusted loss, whichever is greater |
| Building | Excess Amount (HK$) |
|---|---|
| Landslide and subsidence | 10,000 or 10% of adjusted loss, whichever is the greater |
| Other causes | 250 |
Frequently asked questions
Landlord Protector is an insurance plan that is designed specifically for landlords who wish to let out an apartment that they own. It is more than a traditional home policy because it provides specific protection for the landlord’s interests, e.g. it covers the landlords’ losses as a result of rent for designated reasons such as the tenant failing to pay the rent. It also protects the landlord’s property against accidental loss or damage by the tenant. The product has been created specifically to address the needs of a landlord, and, as a result, the coverage and limits are also conceived to allow a competitive premium that provides straightforward protection to suit the needs of the vast majority of landlords in Macau.
Landlord Protector is specially designed for landlords in Macau. It is specifically created to address landlords’ concerns about their leased property assets and the resultant rental income which may be affected by loss of rent or damage to their property, furnishings, fixtures and fittings or any other aspects of their property. Also, the cover limits are designed to cater to the specific needs of landlords, e.g. landlords often only provide basic furniture for their tenants and as a result the cover limit of home contents may not need to be as high as that for an owner-occupier, making the product more competitive in terms of its premium.
Customers are advised to take out Landlord Protector as soon as the Tenancy Agreement is signed and duly stamped.
