Traditionally, home and contents insurance provides insurance protection for home owners who reside within the premises. Landlord insurance is designed specifically for property owners who rent out their properties.
For strata properties, it covers fixtures and fittings, which is not required by law to insure, as well as risks like loss of rental income, tenant damage, and liability.
For investment homes within a community association, landlords can select buildings cover only, contents cover only or building and contents, as well as having the additional protection to safeguard rent or similar
- Damage to the physical building or any other property ordinarily covered under a strata insurance policy.
- Damage where the lot has not been maintained to a reasonable standard.
- Contents items that are not owned by the lot owner and available for tenant use.
(see PDS for full list of exclusions)
Yes it covers rental loss if the lot becomes unfit to be occupied due to damage, if the tenant departs without notice or if the tenant defaults on their rent (if rent default option has been selected).
Yes, we do provide loss of rent for casual lets (no legal requirement for a lease agreement and rental period is less than 3 months), noting that only confirmed bookings will be covered in the event you need to make a claim for loss of rent. Rent default however is not available for casual lets. Please contact us to ensure your specific requirements are met.
Landlord Insurance is designed for property investors who rent out strata units, apartments, or homes within a community association to tenants. It protects you and your investment property from any damage to contents from insured events such as fire, flood or storms. It covers items such as carpets, light fittings and fixtures as well as loss of rent if the property is unfit to be occupied. Additionally, it covers you and your investment property from malicious tenants who might vandalise your property or leave without paying the rent.
Legal liability refers to your responsibility for injury or damage to others or their property. Contents Insurance covers legal liability by providing financial protection if you are found liable for personal injury or damage caused by you or your belongings, covering legal costs and compensation.
When you add our Portable Contents option, your items are protected anywhere in Australia or New Zealand, and for up to 90 consecutive days anywhere else in the world.
Always read our PDS to understand what contents items are covered. High-risk items may need to be specified to be adequately covered.
To determine the value of your possessions for Contents Insurance, create a detailed inventory of all your belongings, including descriptions, purchase dates and costs. For more accurate valuations, consider getting appraisals for high-value items like jewellery, art or collectibles. Update this inventory regularly and adjust your insurance coverage as necessary.
You can also use a contents insurance calculator to get a general idea of the cost to replace your items with new ones. While this tool provides a helpful estimate, it’s important to ensure the figure reflects the true replacement value. Selecting the right ‘contents sum insured’ is key to avoiding underinsurance. The calculator uses basic information to generate an estimate, which you can customise. If you’re unsure of the right amount to insure, consider seeking professional advice.
The amount of Contents Insurance you need depends on the total value of your personal possessions at their current replacement cost. It’s important to ensure that your policy covers the full value so that you can replace all of your belongings in case of a total loss.
To make this easier, we offer a contents calculator you can use to estimate the value of your belongings:
Regularly updating your inventory and valuation helps maintain adequate coverage.
Specified contents are items that you request to have listed on your policy and, if we agree to insure the item, have a value that exceeds the standard policy limit. Specified portable contents are portable items insured at and away from your home address. When you choose this optional benefit, cover is provided up to the amount specified. Please call our customer service team for further information or click on the chat bubble at the bottom right of your screen to send us a Live Chat.
Yes. You can nominate which specific portable items you want covered under this option.