I own a unit that I am renting out to a friend. Do I have to use a body corporate to insure it, or can I do it my self? – Jeffrey, QLD

Q: I own a unit that I am renting out to a friend. Do I have to use a body corporate to insure it, or can I do it my self?

A: Since you are the owner of the unit and are renting it out, you will have to do it yourself by taking out landlords insurance. This will cover you for tenant-related risks such as loss of rental income, and loss/damage by tenants to your unit and its contents.

You may also wish to contact your own broker/insurer for additional advice about insurance for a unit in a body corporate.