Build to Rent Residential Insurance

Insurance for residential property developments in which all of the units/apartments are retained by an owner, developer, managed investment trust or other entity.

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Buildings & Insured Property Cover

Loss of Rent Cover

24/7 Emergency Claims Line

Legal Liability Cover

What is Build to Rent Residential Insurance?

Build to Rent is a residential property development in which all of the units/apartments are retained by an owner, developer, managed investment trust or another entity. The units are leased directly to tenants and cannot be sold individually — any sale of the property would encompass all units in the building. The property is not registered as a strata title and has no body corporate and each unit is leased out under an individual residential tenancy agreement.

Who is CHU’s Build to Rent Residential Insurance product designed for?

This product is designed for a build to rent residential property in which all units are retained by a developer, owner(s), a managed investment trust or another entity that then leases individual units directly to tenants.

Key covers*

Insured Property Cover

Cover for loss or damage to buildings and insured contents caused by insured events.

Loss of Rent

Cover for loss of rent when the property becomes unfit to be occupied due to insured damage.

Legal Liability Cover

Protection if the owner becomes legally responsible to pay compensation for personal injury or property damage.

Machinery Breakdown

Repair or replacement of insured machinery items, provided that the item is within your situation and is in the ordinary course of working at the time the damage occurs.

*Cover is subject to policy terms, conditions and exclusions. Please refer to the PDS for full details.

Why choose CHU?

We’ve made every effort to make our Residential Strata Insurance policy wording easier to understand

Specialist strata insurer since 1978

Leading the way in guiding Australian strata towards a healthy and resilient future.

Almost 1 million properties protected

Providing comprehensive cover that strengthens the communities we serve.

Award-winning underwriting agency

Find out why we’re Australia’s leading strata underwrit

24/7 Emergency Hotline

Reach our experts exactly when you need them.

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What’s included* in your cover
Insured Property
Additional and Special Benefits with Sub-Limits
What is not covered?

The policy may include cover for:

Buildings and insured property
Loss of rent following insured damage
Legal liability for injury or property damage
Machinery and plant breakdown
Catastrophe cost escalation cover
Additional benefits such as emergency protection and environmental improvements.

* Sub-limits and conditions apply. Refer to the PDS for full details.

Cover for loss or damage to buildings and insured contents caused by events insured under the PDS.

Insured contents may include items such as:

Furniture
Furnishings
Light fittings
Internal blinds and curtains
Dishwashers, washing machines and dryers
Carpets and floor rugs

Insured Property also includes additional and special benefits. Please refer to the PDS for full details of these benefits.

Benefits	What we’ll pay
Emergency and temporary protection costs	No more than $7,500
Rent – costs incurred to abate rent during disruption	Not exceeding a maximum of three (3) months
Loss of rent – disease, murder and suicide	Not exceeding a period of thirty (30) days
Loss of rent – failure of supply services	Not exceeding a period of thirty (30) days
Loss of rent – cost of reletting	No more than $1,500 per unit
Alterations / additions	Up to $250,000
Electricity, gas, water and similar charges – unauthorised use	No more than $2,000
Fusion of motors	No more than $5,000
Environmental improvements	No more than $20,000
Exploratory costs and replacement of defective parts	Reasonable exploratory costs and up to $1,000 for repairing or replacing defective tanks, apparatus or pipes
Up to $1,000 for rectifying contamination damage or pollution damage to land caused by escape of liquid

The policy does not cover:

The insured’s own contents where they occupy/live in a unit
A tenant’s contents and any other personal property
temporary wall, floor and ceiling coverings within a unit.
properties rented under short-term or holiday letting arrangements (less than three months in duration).

Important Documents

Build to Rent Insurance PDS and policy wording for policies effective 8 November 2023

Download

Build to Rent: What has Changed for policies effective 8 November 2023

Outlines key policy changes, and should be read in conjunction with latest Product Disclosure Statement and Policy Wording.

Download

Build to Rent Insurance PDS and policy wording for policies effective 1 January 2022

Download

Build to Rent Target Market Determination (TMD)

Target Market Determination is a document that describes who the product is appropriate for (target market), and any conditions around how the product can be distributed to customers.

Download

Build to Rent Insurance Flyer

Should be read in conjunction with latest Product Disclosure Statement and Policy Wording.

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PDF Quote Form – Built to Rent

Download and complete a PDF quote form.

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Build to Rent Residential Insurance

What is Build to Rent Residential Insurance?