Landlord Protector
Product
Landlord Protector
Comprehensive coverage for landlords against loss of rent and property damage, and includes complimentary liability protection
Key Features
- Loss of Rent Cover of 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
Plan Highlights
- Household improvements cover for improvements and betterments on walls, windows, ceiling, floors and doors up to HK$50,000
- Alterations and repairs – cover accidental loss of or damage to contents while the insured premises are under alteration or repair (contract period not exceeding two months and within maximum contract value of 100,000)
- Optional Building cover
Plan details
Benefits
| Benefits at a Glance | Maximum Benefits Payable Per Year (HK$) | ||
|---|---|---|---|
| Gross Floor Area (sq ft) | 800 or below | 801-1,000 | 1,001-1,200 |
| Basic Cover |
$200,000 |
$300,000 |
$400,000 |
in the aggregate, inclusive of all sub-limits under Extra Benefits |
|||
ContentAccidental 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 | |||
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 Hong Kong |
$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) | |||
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 $100,000) |
| Building¹ (Optional) | |||
| Accidental loss of or damage to the structural part of your premises | Sum insured² | Sum insured² | Sum insured² |
| Landslip and subsidence extension – loss of or damage to the structural part of your premises directly caused by landslip or subsidence | Covered | Covered | Covered |
Important Notes:
- The sum insured for the Building Cover should represent the full cost of rebuilding the insured address (including the costs of fixtures and fittings, renovation, debris removal, professional fees and compliance costs).
- The premises or building to be insured must be less than 40 years of age.
- The premises or building to be insured must be for residential use. No industrial or commercial buildings will be covered.
- An enforceable Tenancy Agreement shall be effective on/before the Policy Commencement Date and agree to present the Tenancy Agreement upon request.
In the event of any discrepancy between the English and Chinese versions of any of the above details, the English version shall prevail. For details of coverage, terms, conditions, and exclusions, please refer to the policy wording.
Premium
| Contents | Annual Premium (HK$) | ||
|---|---|---|---|
| Gross Floor Area (sq ft) | Saleable Floor Area (sq ft) | Annual Premium (HK$) | Discounted Premium for online purchase (HK$) |
| Basic Cover | |||
| 800 or below | 640 or below | $798 | $558.60 |
| 801 – 1,000 | 641 - 800 | $1,088 | $761.60 |
| 1,001 – 1,200 | 801 - 960 | $1,388 | $971.60 |
| Over 1,200 | Over 960 | Special quotation | |
| Optional Cover | |||
| Building | Sum insured x 0.09% | ||
Exclusions
| Contents | Major Exclusions |
|---|---|
| For All Sections |
|
Excess
| Major Excess | |
|---|---|
| Household Contents | Excess Amount (HK$) |
| 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 |
Faq Section
What is Landlord Protector?
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.
Why should I take out Landlord Protector?
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.
What is the best time to take out Landlord Protector?
Customers are advised to take out Landlord Protector as soon as the Tenancy Agreement is signed and duly stamped.
What are the differences between Landlord Protector and a traditional home insurance policy?
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 | |
|---|---|---|
| Cover |
|
|
| Cover limits |
|
|
| Simple and competitive pricing |
|
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If I am not a Hong Kong resident, can I take out Landlord Protector?
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.
Can an overseas registered company take out Landlord Protector?
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.
Can I take out Landlord Protector for a leased apartment that I own overseas?
No. Landlord Protector only covers premises that are located in Hong Kong.
Can a company take out Landlord Protector for its apartment which is used as staff quarters?
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.
Does Landlord Protector cover tenants’ property?
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.
Can an owner-occupier take out Landlord Protector for their home?
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 Home Protector policy that is specially created to cater to their needs.
If I own two apartments - one for my own use and the other for leasing - is Landlord Protector suitable for me?
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 Home Protector policy which is more suitable for owner-occupiers.
Will Landlord Protector cover my leased apartment if my tenant uses it for commercial purposes, for example as a private kitchen or nail salon?
No. Landlord Protector covers a leased apartment for residential purposes only.
My leased apartment will be used as my tenant’s home office. Will use of the apartment as a home office be considered as an exclusion? Will there be any impact on the coverage of my Landlord Protector?
In the case of your tenant using your apartment as a home office, please inform your insurance advisor for special proposal.
I have leased my apartment to a relative and a Tenancy Agreement has been signed between us. My relative has promised that he will not damage my property. Do I still need Landlord Protector in a situation like this?
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.
Is there any flat size limitation for Landlord Protector?
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.
What happens if I want to terminate the policy after taking out Landlord Protector? Am I able to cancel the policy?
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.
I have leased my apartment to my daughter. Can I take out Landlord Protector to protect both of us?
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 Home Protector to cover both yourself and your daughter.
Question Set
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
Customers are advised to take out Landlord Protector as soon as the Tenancy Agreement is signed and duly stamped.
Faq Question
Faq Answer
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 | |
|---|---|---|
| Cover |
|
|
| Cover limits |
|
|
| Simple and competitive pricing |
|
|
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
No. Landlord Protector only covers premises that are located in Hong Kong.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
No. Landlord Protector covers a leased apartment for residential purposes only.
Faq Question
Faq Answer
In the case of your tenant using your apartment as a home office, please inform your insurance advisor for special proposal.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
My existing Tenancy Agreement is due to expire and I have been looking for a new tenant for more than a month. What happens if my leased apartment is unoccupied once my tenant moves out? Will Landlord Protector still cover my leased apartment?
If your leased apartment is to be unoccupied for more than 30 consecutive days, please inform your insurance advisor as soon as possible.
What happens if my tenant accidentally damages the wardrobe I provided in the leased apartment? Will the cost of repairs or replacement of the wardrobe be covered by Landlord Protector?
Yes, you can claim for any damage to the wardrobe with coverage limits of up to HK$15,000.
Can I claim under Landlord Protector if my tenant accidentally breaks my glass bathtub screen?
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.
My TV in the leased apartment needs repairing. During the course of transit to the repair centre, my TV is accidentally damaged. Am I covered under Landlord Protector for the damage to my TV?
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.
My tenant requested some minor renovation work in the kitchen after a small fire. Unfortunately, during the course of the renovations, the construction workers accidently damaged the dining room table. Will Landlord Protector cover this damage?
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.
If my leased apartment is renovated and fully furnished for my tenant, does Landlord Protector cover all my furniture and renovations?
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.
If my leased apartment is badly damaged by fire, will I be covered under Landlord Protector?
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.
I would like to renovate the kitchen and bathroom of my leased apartment. Will these renovations affect the existing cover offered by my Landlord Protector?
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.
Question Set
Faq Question
Faq Answer
If your leased apartment is to be unoccupied for more than 30 consecutive days, please inform your insurance advisor as soon as possible.
Faq Question
Faq Answer
Yes, you can claim for any damage to the wardrobe with coverage limits of up to HK$15,000.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Faq Question
Faq Answer
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.
Under what circumstances can I claim for Loss of Rent under Landlord Protector?
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
If costs are involved in taking legal action against a tenant who refuses to pay rent, are these costs covered under Landlord Protector?
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.
Question Set
Faq Question
Faq Answer
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
Faq Question
Faq Answer
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 the water pipes in my leased apartment burst outside the apartment causing a neighbour to slip and hurt himself in the common areas, am I protected by Landlord Protector?
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.
Question Set
Faq Question
Faq Answer
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.
Remark
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.