Loss of rent cover may apply if your rental property becomes unliveable due to loss or damage caused by an insured event and a claim has been accepted.
For building cover, loss of rent may apply where the building is insured under the policy.
For contents-only cover, loss of rent is only available where you are a strata lot owner with contents cover only.
Rent Default by Tenant is different and is only available as an optional cover for eligible formal lease arrangements.
You may still need landlord insurance if you rent out a strata property.
Residential strata insurance generally covers the building, common property and common contents insured by the strata body corporate. It may not cover landlord-owned contents inside your lot, strata fixtures that the body corporate is not required to insure, loss of rent, certain tenant-related damage or your legal liability as a landlord.
CHU Landlord Insurance can help protect you for these landlord-specific risks, depending on the cover selected.
Landlord insurance is not generally mandatory in Australia. However, landlords may choose to take out cover to help protect against rental-related risks such as loss or damage to the rental property, landlord contents, loss of rent, tenant-related damage and legal liability.
You should consider your own circumstances and read the Product Disclosure Statement and Target Market Determination before deciding whether the product is right for you.
CHU Landlord Insurance is designed for property owners who rent out eligible residential investment properties, including freestanding houses and strata properties.
Eligibility depends on the property type, occupancy, cover selected, underwriting criteria and the Target Market Determination.
Yes. You can cancel your policy. A refund may be available depending on the circumstances, policy terms and whether any premium remains refundable.
Please contact CHU to discuss cancellation or changes to your cover.
CHU Landlord Insurance may provide cover for eligible casual lets, including properties rented to paying guests through short-term rental platforms (such as AirBNB or Stayz).
However, not all short-term accommodation arrangements are eligible. CHU Landlord Insurance is not designed for properties that are used as hotels, motels, resorts, inns, commercially operated serviced apartments or similar accommodation. This means cover is not available where your unit or property is managed or used as part of a commercial accommodation arrangement.
For eligible casual lets, loss of rent may apply where the rental property becomes unliveable due to an insured event and a claim has been accepted. Cover is subject to the policy terms, conditions, limits and exclusions.
Rent Default by Tenant is not available for casual lets.
If you’re a strata lot owner, you will not have to pay an excess under your CHU Landlord Insurance policy if the strata building owner, body corporate or owners corporation makes a claim on a CHU policy for loss or damage caused by the same incident.
This means that where both claims relate to the same incident, only the excess under the strata building policy would be payable.
Yes. You should tell CHU if your weekly rental income changes, particularly if you have selected the Rent Default by Tenant option or you want to make sure your level of cover remains appropriate.
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.
Lots are individual units, flats, apartments, townhouses, villas or duplexes on land that has been sub-divided into a strata title. Common Property is the shared spaces in the scheme such as common stairwells, driveways, visitor parking, roofs, gardens, lifts, gyms, pool etc. Strata living can provide a friendly community-style environment but differs from living in a freestanding house.
Yes, Community Association insurance only provides for accidental loss or damage to community property, as well as protection against risks faced by the association including legal liability. Landlord Insurance protects you for damage to your own home within a community association.
Yes, Residential Strata Insurance only provides general insurance cover for the building, common/shared property and common/shared contents. The cover provided by the Strata Building policy generally ends when you cross the threshold of your individual property. Landlord insurance protects you for tenant related loss/damage inside your property and to strata fixtures not covered by the Body Corporate.