- Hong Kong
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 landlord's 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 Hong Kong.
Landlord Protector is specially designed for landlords in Hong Kong. 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.
Landlord Protector is a simple and direct insurance plan that is specially designed to address the needs of most landlords in Hong Kong. Its cover, features, coverage limits and pricing are different to a traditional home insurance policy.
|Landlord Protector||Traditional Home Insurance|
|Simple and competitive pricing||
Yes. As long as you lease an apartment located in Hong Kong with a signed and duly stamped Tenancy Agreement, you may take out Landlord Protector to protect your property.
Yes. As long as the leased apartment is located in Hong Kong with a signed and duly stamped Tenancy Agreement, the corporate client as a landlord may take out Landlord Protector.
No. Landlord Protector only covers premises that are located in Hong Kong.
No. Landlord Protector is only effective if a Tenancy Agreement is signed between a landlord and a tenant; not between a company and its staff as staff quarters.
No. Landlord Protector only caters to the needs of landlords and covers only the landlords’ property, fixtures and fittings, furniture, decoration, and appliances in the leased premises. However, we also offer a specially created Tenant Protector, which is tailored specifically for the needs of tenants. Please contact your insurance advisor for more details.
Landlord Protector is designed specifically to cater to the precise needs of landlords in Hong Kong. Its cover and cover limits may not be sufficient to give an owner-occupier the level of protection they expect. We recommend that owner-occupiers consider a FamilySurance Plus 4.0 policy that is specially created to cater to their needs.
Landlord Protector is specially designed to address all your needs as a landlord letting out your apartment. To get maximum protection for the apartment you are living in, it is suggested that you take out a FamilySurance Plus 4.0 policy which is more suitable for owner-occupiers.
No. Landlord Protector covers a leased apartment for residential purposes only.
In the case of your tenant using your apartment as a home office, please inform your insurance advisor for special proposal.
Even if he/she has promised that he/she will not damage your property, accidents may still happen that could impact your rental income. Insuring your leased apartment will make life easier for you in potentially difficult situations you could encounter with a tenant who is your friend or relative. Landlord Protector can also protect your liability as the owner of your leased apartment.
Landlord Protector covers apartments with gross floor areas of 1,200 square feet or less. For apartments with a gross floor area more than 1,200 square feet, please contact your insurance advisor for special proposal.
Yes. You may cancel the policy if you change your mind as long as there have been no claims against your policy. We will refund the unused premium based on a short-term rate subject to a minimum premium of HK$500.
Landlord Protector is exclusively designed for landlords who have leased a property they own.
Therefore, if your daughter is renting your apartment while you are living elsewhere, Landlord Protector will protect your property assets as well as your rental income against any accidental loss. However, it will not provide sufficient cover to protect your daughter who is the occupier of your apartment. Please note that there must be a current and duly stamped Tenancy Agreement to take out Landlord Protector. If this is not the case with your daughter’s Tenancy Agreement, we recommend that you take out FamilySurance Plus 4.0 to cover both yourself and your daughter.
If your leased apartment is to be unoccupied for more than 30 consecutive days, please inform your insurance advisor as soon as possible.
Yes, you can claim for any damage to the wardrobe with coverage limits of up to HK$15,000.
It depends on whether you have taken out any Building insurance. If you have, you will be required to claim under the Building insurance. Or, if you have previously replaced the glass bathtub screen, you can claim under the household improvements cover section of Landlord Protector with compensation of up to HK$50,000.
As long as it is handled with care during the course of transit to or from the repair centre, your TV will be covered under Landlord Protector.
Yes. Landlord Protector provides cover for any damage to a landlord’s property caused by a contractor’s work, as long as the duration of the renovation work is shorter than 2 months with a total contract value of less than HK$100,000.
Yes. Landlord Protector covers all your furniture in your leased apartment up to HK$400,000 in aggregate, under which up to HK$50,000 is for household improvements. In the event that the cost of your furniture, fixtures and fittings, and renovations in your leased apartment costs more than the policy’s cover limits, please contact your insurance advisor.
Yes. Your contents in your leased apartment will be covered up to HK$400,000 in aggregate, which includes household improvements cover of up to HK$50,000 under Landlord Protector. However, the structural parts of your leased apartment such as floors, walls and ceilings will only be covered by Building insurance. We strongly recommend that you take out optional Building cover to ensure that you have comprehensive protection for your leased apartment.
You are advised to review the total value of your leased apartment after renovation to check if the contents cover limit is sufficient for your renovated apartment. In any case, you should notify us about these renovations or changes that may increase the risk of damages in your leased apartment.
Landlord Protector will cover your loss of rent under the following circumstances:
- Your leased apartment becomes uninhabitable due to accidental loss of or damage to contents; or
- Your leased apartment cannot be accessed because of an accident that happened nearby, e.g. a fire started in your neighbour’s home, forcing your tenant to move out; or
- Your tenant dies as a result of murder or suicide and no one is paying the rent; or
- Your tenant fails to pay the rent in accordance with the Tenancy Agreement
No. Loss of Rent cover will only compensate you for the unrecovered rent that your tenant is obliged to pay in accordance with the Tenancy Agreement up to HK$20,000. Any legal costs involved are not covered.
If you are being sued and it is proved that you are legally liable as the owner of the apartment for the accident, you will be covered under Landlord Protector. You are advised to file the claim with us immediately without committing to any liability.
This FAQ information aims solely to facilitate your understanding of the product coverage in a broad sense and does not constitute any part of the policy itself. Full details of the policy cover, exclusions, excesses and other terms and conditions imposed for each feature can be found in your Landlord Protector insurance policy.