Insurance for Landlords, Strata & Property Owners
Owning property is a great way to build wealth—until a pipe bursts, a tenant disappears, or a legal dispute lands on your doorstep. We help you protect your bricks, mortar, and bank balance with zero hidden commissions.
Common Risks
- Damage to the building from fire, flood, or storms.
- Tenant-related issues like unpaid rent or malicious damage.
- Injuries to visitors in common areas (slips and trips).
- Machinery breakdown (lifts, pumps, or automated gates).
- Legal disputes with tenants or contractors.
Covers You Might Need
Property & Contents Insurance
Covers the structure and any fixtures/fittings you own. If a storm rips off a roof or a fire guts the kitchen, you’re covered.
Loss of Rent
Protects your cash flow if the property becomes uninhabitable after a disaster. The building is being fixed — and your mortgage is still getting paid.
Public Liability
Essential for common areas. If a visitor trips on a loose tile in the lobby or a tenant is injured by a faulty gate, the legal fallout is covered.
Strata & Body Corporate Cover
Specific protection for shared ownership, covering common property and the liability of the committee members.
Rent Default & Malicious Damage
For when things go south with a tenant. If they stop paying or decide to "redecorate" with a sledgehammer, you’re protected.
Why Work with Luma
Your property is an asset, not a headache. We provide clear, commission-free cover so your investment stays profitable and your “passive income” actually stays passive.
FAQs
Why is my current Strata insurance so expensive?
A lot of it comes down to “hidden” kickbacks. In the Strata world, some brokers and even some strata managers take commissions of up to 20%–50% on your premium (we’ve seen it!). It’s a huge driver of rising costs. At Luma, we strip those out. You pay the base premium and a flat, transparent fee for our work. It’s a game-changer for your body corporate budget.
Does Landlord insurance cover me if my tenant just... stops paying?
If you have Rent Default cover, then yes! While standard building insurance covers the walls, this specific add-on covers your income. If a tenant does a runner or loses their job and can’t pay, this keeps your bank account from taking the hit while you find a new tenant.
What’s the difference between my building insurance and Strata insurance?
Think of it as “inside vs. outside.” If you own a townhouse or apartment, the Strata insurance usually covers the shared structure (the roof, the external walls, the driveway). Your Landlord or Contents insurance covers everything inside your specific unit—like your carpets, blinds, and appliances. We’ll help you bridge the gap so you aren’t paying for the same thing twice.
I’m a Property Manager. Can I refer my owners to Luma?
Absolutely. In fact, your owners will probably love you for it. By referring them to a commission-free broker, you’re helping them save money and giving them a “Plain English” experience. We make your life easier by ensuring your portfolio is properly protected without the usual insurance paperwork mess.
Am I covered if a delivery driver slips in the common driveway?
That falls under Public Liability. As the property owner (or part of the Strata), you have a duty of care to keep the place safe. If someone gets hurt and sues for negligence, this cover pays for your legal defense and any settlements. It’s the “sleep-at-night” insurance that every owner needs.