Real Estate Insurance
Perth, Sydney, Melbourne, Brisbane & Canberra

Real estate businesses can hold property, manage it for others and provide agency or advisory services through related entities. Start by mapping those roles rather than treating the whole group as one exposure. Identify which entity owns each asset, receives rent, employs staff and signs management or service agreements. A property owner and an agent may need different insured interests even when they share a director or trading address. Explain residential, commercial, industrial and mixed-use holdings separately where relevant. The insurance arrangements should be discussed against the actual role played by each part of the business.

Occupancy and use can change over time. A building may move from an ordinary lease to vacancy, refurbishment or short-stay use, while another may contain tenants with very different activities. Describe those changes and any areas controlled by the owner, such as common paths, lifts or car parks. Buildings, landlord fixtures, tenant fit-out and contents should not be assumed to belong to the same party. Include services provided alongside the property, such as maintenance coordination or facilities management. These details help distinguish physical asset risks from allegations about advice, supervision and administration of the portfolio.

Leases can allocate responsibility for repairs, glass, fit-out, insurance and damage in different ways. Keep representative agreements and details of unusual clauses available for review. Ask how the proposed wording treats liability assumed under the lease and whether the insured interests reflect the ownership structure. A tenant’s insurance certificate may be useful evidence but does not establish cover for the landlord’s building or all shared liabilities. Where a property manager is appointed, clarify their authority, reporting duties and insurance arrangements. Neither party should rely solely on the assumption that the other has addressed an exposure.

Property values and rental information should reflect the actual assets and income streams. Reinstating a specialised or heritage building may involve considerations beyond a general market valuation. Discuss the valuation basis and the practical time required to restore occupation after damage. Loss of rent and business interruption provisions can have specific triggers, periods and calculation rules. If the group also provides professional services, review the insured-services description separately from the property schedule. A dispute about a management decision may not be treated like physical damage, even where both ultimately reduce income from the same building or tenancy.

Maintenance reports, tenant communications and contractor instructions can be spread across several systems. Establish a way to retrieve the relevant history for an injury allegation, water event or management complaint. Record when an issue was reported, who had authority to act and what steps followed. Keep photographs and inspection information where appropriate. After physical damage, distinguish building repairs from tenant property and temporary operating costs. Check assessment and approval arrangements under the policy while taking reasonable steps to address immediate hazards. A complete factual record can assist review without determining liability or the insurance outcome.

At renewal, reconcile acquisitions, disposals, changed tenants and major works with the property and entity schedules. Explain vacancies and new uses when they arise instead of waiting for a routine annual update. Consider how the business would manage access, rent records and maintenance requests if the portfolio management system failed. Keep an authorised backup contact for important documents and insurer communications. A property group can grow through small transactions that collectively change its exposure significantly. The review should therefore connect assets, occupancies and management responsibilities, allowing each part of the portfolio to be considered on its own facts.