product
Building Insurance
Terri Scheer Building Insurance can help cover your property when it matters most, helping reduce eligible out of pocket repair and recovery costs.
true
buildinginsurance
Building Insurance Banner
5% first year online discount+
What is Building Insurance?
Building Insurance can cover the costs associated with loss or damage to a physical property due to certain events, like tenant damage and escape of liquid, which can give landlords peace of mind knowing their property is covered if the unexpected happens.
Damage from unexpected events
Covers you for loss or damage to your property. Some examples are:
Damage from insured events
Cover for loss or damage to your building caused by insured events such as fire (including bushfire), storm or rainwater, flood, impact, escape of liquid, lightning, earthquake or tsunami, and other insured events listed in the Product Disclosure Statement (PDS). Please note we do not insure you for bushfire, storm, flood or tsunami in the first 72 hours of your policy. Very limited exceptions apply.
Accidental glass breakage
Cover for the accidental breakage of certain fixed glass and ceramic items, including fixed glass in windows and doors, fixed light fittings, cooktops, sinks, baths, toilets and shower bases.
Impact damage
Cover for loss or damage caused by impact from things such as a falling tree, power pole, vehicle, aircraft, drone, or object falling from a vehicle or aircraft.
Escape of liquid
Cover for sudden and unexpected loss or damage caused by liquid escaping from items such as fixed pipes, drains, water mains, fixed tanks, swimming pools, spas, washing machines, dishwashers, refrigerators and other insured sources listed in the PDS.
Damage from tenant-related events
Covers certain events at your property relating to your tenants. Some examples are:
Tenant damage
Cover for loss or damage caused by the tenant, the tenant’s family, or the tenant’s invited guests, including theft by those people.
Break-in, vandalism or theft by unknown persons
Cover for loss or damage to the building intentionally caused by break-in, vandalism or theft by unknown persons.
Loss of rent
Covers you if your building is damaged by an insured event and becomes untenantable. Some examples are:
Untenantable property
If loss or damage to the building is covered under a Section 1 insured event (except tenant damage) and the property becomes untenantable, cover is available for loss of rent while the property is repaired, rebuilt or re-let, up to 52 weeks (subject to policy terms and conditions).
Rent reduction
If the property remains tenantable but a tenant does not have full use of it due to building damage covered under Section 1, and you agree to reduce the rent, cover is available for the proportionate reduction in rent for up to 52 weeks.
Damage from unexpected events
We do not cover:
Events within the first 72 hours
Loss or damage caused by bushfire, storm, flood or tsunami during the first 72 hours of cover is not covered, unless an exception outlined in the PDS applies.
Failure to maintain the property
Loss or damage caused by the property not being in good condition, including unrepaired leaks, blocked gutters, rot, termite damage, holes in walls or roofs, or other disrepair, is not covered.
Mould or mildew
Mould or mildew is not covered unless it was directly caused by an insured incident and there is no evidence of pre-existing mould or mildew in the affected area.
Damage caused by tenants
We do not cover:
Poor housekeeping or tenant neglect
Loss or damage caused by poor housekeeping or tenant neglect, including scuff marks on walls, overgrown gardens or water splashing from sinks or baths, is not covered.
Damage caused by domestic pets
Damage caused by domestic pets is not covered.
Wear, tear and gradual deterioration
Damage that has not been caused by a single incident, or that results from wear, tear or gradual deterioration, is not covered.
Illegal drugs
Loss or damage arising from the use, storage, possession, consumption or distribution of illegal drugs, or illegal drug precursors, is not covered.
Unsecured property damage
Loss or damage caused by unknown persons may not be covered if the property wasn’t reasonably secured or maintained.
Loss of rent
We do not cover:
No intention to repair or replace
Loss of rent is not covered if you do not intend to repair or replace the damaged building.
Tenant still required to pay rent
Loss of rent is not covered where the tenant still has an obligation to pay rent.
Market conditions
The policy does not cover an inability to rent the property due to adverse market conditions or vacancy periods between tenancies where no insured event has occurred.
Alternate accommodation
Alternate accommodation costs for tenants are not covered.
Additional benefits
brand-light
Legal liability (Up to $20 million)
Covers you if you’re legally responsible for injury to someone or damage to their property.
Replacement of locks and keys up to $1,000
Payable when you need to replace the locks at the property following the eviction of the tenant by court order provided the bond has already been fully exhausted.
Reasonable costs for removal of debris
Emergency Service damage up to $1,000
Damage caused as a result of Emergency Service Personnel entering the property.
The above is a summary only. Conditions, limits and exclusions apply. For full details, read the relevant Product Disclosure Statement. The Target Market Determination is also available.
center-aligned
small-font
POLICY DOCUMENTS
Product Disclosure Statement
Product Disclosure Statement
Calculate your building insurance costs
This calculator can help you estimate the cost to rebuild your investment property, and choose your sum insured.
Looking for another type of insurance?
center-aligned
h2-black
big-font
Compare covers
image-title-description
Holiday Rental Insurance
Insure your holiday home or short-term rental property for things like tenant damage and loss of rent, and rest assured when hosting guests.
image-title-description
Landlord Insurance
This can cover your rental income and investment property for tenant-related risks, including loss of rent and damage to your property and contents.
image-title-description
Combined Coverage
Bundle your Landlord and Building Insurance with Terri Scheer to give your property broader protection.
Frequently Asked Questions
center-aligned
h2-black
default-font
View all FAQs
Does Landlord Insurance cover the building?
Landlord Insurance may cover certain types of building damage caused by tenants or their guests. With Terri Scheer Landlord Insurance, it covers damage caused by tenants or their guests. For broader cover against insured events such as storm, fire or flood, you may need a separate Building Insurance policy or a combined cover option.
primary
tertiary
Does Strata cover Building Insurance?
If your property is part of a Strata scheme, the owners corporation usually arranges insurance on behalf of all owners. This cover typically includes the building structure, common property and original fixtures. However, it does not cover your personal belongings, and it may not cover upgrades or improvements you have made to your unit.
primary
tertiary
What is Domestic Building Insurance?
Domestic Building Insurance is different from landlord or building insurance. It is generally arranged by a builder for eligible residential construction work where required by law. It may help protect homeowners if the builder cannot complete the work or fix defects due to circumstances such as insolvency, death or disappearance. Requirements and protections vary by state or territory, so homeowners should check the applicable rules and policy terms.
primary
tertiary
Do I need Building Insurance if I have Landlord Insurance?
Landlord Insurance alone does not provide full building cover. It generally only covers tenant-related damage, so building insurance is needed for broader risks like storm or flood.
primary
tertiary
Does Building Insurance cover apartments or units?
Building Insurance can cover apartments or units, but if the property is part of a strata scheme, the building may already be covered under Strata Insurance. Strata Insurance typically covers the structure and common property, while individual owners may need additional cover.
primary
tertiary
Does Building Insurance cover unoccupied properties?
Building Insurance policies may still cover your property while vacant, but cover can be subject to conditions or limitations. It’s important to check your policy wording.
primary
tertiary
Making a claim is easy
You can lodge a claim anytime online, over the phone, or by email or post. Once you do, we will provide you with a claim number and keep you updated on the progress of your claim.
What our customers think about us
buildinginsurance
Read all reviews
BLOG & ARTICLES
Learn more with Terri Scheer
Explore the Terri Scheer blog for helpful guides and articles on being a landlord, managing a short-term holiday rental, like an Airbnb, and ways to successfully manage and maintain your property.
Discover more
icon-title-description
Need to make a claim?
Claim online through our claims portal, over the phone, or via post or email.
primary
icon-title-description
After some extra support?
We’re committed to looking after your needs with sensitivity, dignity, respect and compassion.
primary
bv_reviews
buildinginsurance