Guest Columnist: AON Insurance
There is a worrying increase in the discovery of drug and meth labs across Australia, with hundreds of labs being found in residential properties each year. Aon help protect your landlord’s property by including cover for chemical contamination as a result of the manufacture, storage or distribution of any controlled drug.
You will have no doubt seen many articles in the press in recent times about properties that have either been destroyed by explosions caused by meth and drug labs or suffered extensive damage due to the toxic by-products of these labs. The biggest concern of all is that the majority of cases are being discovered in rental properties resulting in a growing trend of claims occurrences.
Fortunately, Aon have recognised the growing trend and our landlords policy specifically includes cover arising from the illegal activities of tenants (including meth and drug labs).
Meth and drug labs can be found in urban to remote locations, from modest units to multi million dollar houses in blue chip suburbs and in a growing number of cases it is property managers who are feeling the financial and reputational impact.
Once a drug lab is detected, even in the absence of an explosion, the clean-up and remediation costs incurred by the landlord can amount to thousands of dollars in costs for specialist cleaners and in many instances, landlords do not have any insurance to cover the cost of remediating the damage.
To our knowledge this policy is the only one of its kind which has a specific cover included for these types of claims. Therefore, in the unfortunate event of one of your rental properties being involved in one of these matters, you will have peace of mind knowing that cover is available for these types of claims and at no extra cost.