Landlord Insurance

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Landlord Insurance

You’ve worked hard to establish your investment property and the income it provides, and it’s an important part of providing for your future. But if a disaster strikes, you could lose everything you’ve worked for.

That’s why it’s important that you protect your investment property with insurance designed specifically for landlords. 1300 Insurance can refer you to Allianz for landlord insurance.

Landlord Insurance in brief*

Whether you’re insuring your buildings, your contents, or both, landlord insurance can provide cover for earthquakes, storms, lightning strikes, fires, explosions, housebreaking or malicious acts. You can even get cover for damage caused by leaks, or by something falling on your home like a tree or aerial.

As a landlord you could be held liable should someone be hurt while on your property. In the case of a serious injury, damages could run to tens or even hundreds of thousands of dollars. Landlord insurance can protect you against your legal liability (up to $10 million) to pay compensation for injury to other people or damage to their property.

When you rent out your investment property, you’re putting it into the hands of other people – and unfortunately, they may not always treat it well. Landlord insurance includes cover against malicious damage by your tenants, and you have the option of getting additional cover against rent default and theft by tenants.

With 1300 Insurance you can spread the cost of your landlord insurance by paying monthly without paying extra. Whether you opt for annual or monthly instalments, you’ll pay the same total premium to protect your valuable investment property. 1 And you can also increase your excess to reduce your insurance premiums. 3

Not made a claim on your landlord insurance in the past three years? You could reduce the cost of your landlord insurance policy with a No Claim Bonus of up to 30%. And even if you’ve made up to two claims in that period you could still qualify for a reduced No Claim Bonus. 3,4

*For the standard terms, conditions, limits and exclusions of cover, please refer to the PDS.

Landlord insurance can help to protect your investment property and the vital income it generates for you. Designed for landlords, it can cover you against a range of events – plus optional extras like rental default for even more peace of mind.

Policy Benefits

As well as insuring against a range of events, landlord insurance has additional benefits like cover for the cost of removing of debris, professional rebuilding fees and the extra costs of complying with building regulations should your property be destroyed or damaged by an insured event.

If you’re only choosing to protect your buildings, you will also be covered for up to $10,000 worth of your contents (covering you for fixtures and fittings such as curtains, or appliances like washing machines) if they are damaged as a result of an insured event. Additional built-in benefits include continuation of cover if you’re selling your buildings, mortgage discharge costs if your buildings are destroyed and rental costs after an insured event.

It’s important that the sum you insure under your landlord insurance policy is sufficient to allow you to rebuild your investment property and its fixtures if it were destroyed. And because building costs rise each year, Allianz will automatically offer to increase the amount of your insurance every time you renew your policy.

To give you peace of mind, landlord insurance also comes with the option to add cover for rent default and theft by tenant.

For a handy summary of the covers available under landlord insurance, check out this table.

How to apply for cover

It’s quick and easy to apply for landlord insurance. Simply call 1300 467 872 or click here to get an online quote.

Need to claim?

If something does happen to your investment property, you need an insurance company who will act fast to help you get it back in shape to generate income again. That’s why we’ve partnered with Allianz, which has a quick and efficient claims process. Click here for information on how to claim.

Get a quote Phone us on 1300 467 872

Policy Exclusions

Landlord insurance transfers many of the risks investment property owners face from you to the insurer. However, it is important to understand that landlord insurance does not cover every circumstance or expense that you may incur and there are some exclusions to the cover. Some types of cover, such as cover for flood, are optional and subject to eligibility and require the payment of an additional premium. For the standard terms, conditions, limits and exclusions of cover, please see the Product Disclosure Statement.

1 Premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding and financial institution transaction fees may apply.

3 Minimum premiums may apply. Any discounts / entitlements may be subject to rounding and only apply to the extent any minimum premium is not reached. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding taxes and government charges) as reduced by any prior applied discounts / entitlements. Discounts may not be applied to the premium for optional covers, such as flood (where applicable).

4 To qualify for the maximum No Claim Bonus of 30%, landlords must have had no landlord losses in the preceding three years. However, landlords who have had up to two claims may still qualify for reduced No Claim Bonus.

Landlord Insurance FAQs

There are three ways to apply for landlord insurance through 1300 Insurance. If you meet the eligibility criteria, you could buy your landlord insurance in the following ways:

  1. Get a quote and then buy securely online 24 hours a day, 7 days a week
  2. Complete a quote online then simply call 1300 467 872 to complete the purchase of your policy. Make sure you have the quote reference number handy when you call.
  3. Call a friendly, helpful consultant on 1300 467 872 to get a quote and buy your insurance over the phone.

The call centre is open Monday to Friday between 8.00am and 9.00pm (EST) and Saturday 8.00am to 5.00pm (EST).

If you meet the eligibility criteria, you may be able to get landlord insurance in place with a short online session or one quick phone call.

Simply call the claims line on 1300 467 872 and a friendly, professional consultant will guide you through the quick, easy claims process. Alternatively, you can submit an online claim form – find out more here.

Most landlord insurance claims can be processed over the phone. In some more complicated cases your insurer may have to arrange for an assessor to visit your property to inspect the damage, and help you to coordinate repairs and replacements. Either way, your claim will be dealt with quickly and with the minimum fuss.

Landlord insurance premium is calculated on the basis of the risk you present to the insurer.

This risk is affected by a number of factors, such as:

  • the location of your property
  • the value of your property and any contents you choose to insure
  • the material your property is constructed from
  • the security devices you have installed to protect your property
  • how your property is occupied
  • the frequency of claims made by you

Your premium will also depend on the amount you wish to insure, whether you are insuring contents as well as the building, and any optional extras you add to your policy.

Before you buy landlord insurance, you have a duty of disclosure to tell the insurer anything you know and that a reasonable person in the circumstances would include in their answer to any questions the insurer asks that are relevant to their decision to insure you and on what terms. This duty applies until the insurer agrees to insure you. If you don’t comply, the insurer may cancel your contract, reduce the amount payable for a claim, or both. If your failure is fraudulent, the insurer can refuse a claim and treat the contract as if it never existed.

The landlord insurance we offer is underwritten by Allianz Australia Insurance Limited ABN 15 000 122 850, AFSL No 234708 (Allianz).

Allianz is an Australian Insurer authorised to conduct insurance business in Australia by the Australian Prudential Regulatory Authority (APRA).

Allianz is a member of the Insurance Council of Australia and subscribes to the General Insurance Code of Practice.

Have a question that you'd like us to answer?

1300 Insurance Pty Ltd ABN 50 124 845 727 AR Number 327609 is authorised to refer you to the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No 234708 (Allianz) and to provide written general advice on these insurances as the insurer’s agent. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision, please consider the relevant Product Disclosure Statement available here. If you purchase this insurance, we will receive a commission that is a percentage of the premium. We will also receive a percentage of the profit which exceeds the profit threshold on Home (excluding flood), Landlord (excluding flood), Motor, Caravan and Trailer and Commercial policies referred by us to Allianz (or renewed with Allianz) in each calendar year, provided that the relevant premium threshold is met. From 1 September 2018, we will also receive an annual marketing allowance from Allianz for promoting its products. This is calculated as a percentage of the premium on Home, Landlord, Motor, Caravan and Trailer and Commercial policies referred by us to Allianz in the previous 12-month period. Ask us for more details before we provide you with services.