Landlord Insurance
Residential Tenancy
Covers you for tenant-related risks including loss of rental income, and loss or damage by tenants to your building and contents.
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What's covered
Loss of rental income
Protects you from loss of rental income as a result of scenarios such as those listed below.
Provides cover for:
- Absconding tenant A tenant who vacates with or without giving you the required notice. Also covers a tenant who vacates at the end of their lease leaving unpaid rent.
- Defaulting tenant A tenant’s lease is terminated by court or tribunal order for not paying rent, or a tenant is issued a termination notice by yourself or your Property Manager for not paying rent.
- Failure to give vacant possession If your tenant refuses to pay rent and vacate the property after a court order requires them to do so.
- Death of a tenant If your tenant passes away and they are the sole person on the lease for a permanent tenancy.
- Hardship If a court releases your tenant from their lease obligations, over and above the amount they paid in bond, due to hardship.
- Untenantable property If your property isn't fit to house a tenant, due tenant damage to your building or your contents being damaged by an insured event under the Building or Contents section.
- Prevention of access Loss of rent when your tenant does not have access to the insured address, because of one of the following incidents:
Damage to a building (but not the insured building), strata title property, road or street;
Burst water main;
Bomb threat or bomb damage;
Street riot;
Lift malfunction at the insured address (and tenant has a medical certificate stating they must use a lift);
Emergency services refuse access to the insured building or evacuate your tenant for safety reasons.
Cover will commence 7 days from the date access is first prevented, until access is restored. - Rent reduction The property remains tenantable following damage to building or contents but the tenant does not have full use of the property for a minimum of 7 days.
Contents
Protects those furnishings you forget, like curtains, carpets, blinds and light fittings. What contents are covered?
Provides cover for:
- Tenant Damage Theft, loss or damage caused by the tenant, the tenant’s family or the tenant’s invited guests.
- Flood The covering of normally dry land by water that has escaped or been released from the normal confines of any lake, river, creek or another natural watercourse (whether or not they have been altered or modified), or any reservoir, canal or dam.
- Storm or rainwater Damage from violent wind, cyclone or tornado which may also include rain, hail or snow.
- Escape of liquid Loss or damage caused by the accidental escape of liquid from: Any drain, fixed pipes, drainage and sewage systems (not forming part of a shower cubicle wall, floor or base); Water mains or pipes; Water tanks, aquariums and hot water systems; Gutters; Washing machines, dishwashers, refrigerators or freezers; Other parts of your building designed to contain or carry liquid such as sinks, basins, baths, showers and cisterns.
- Fire (including bushfire) or explosion
- Break-in vandalism or theft Theft or damage due to theft caused by: an unknown person (e.g. a burglar)
- Pet damage Damage caused by a domestic pet that is owned by the tenant. Reptiles are excluded.
- Scorching Damage to carpet caused by cigarettes, irons or hot cooking pots or pans.
- Impact Impact by: a falling tree or part of a falling tree including the roots, power poles, TV antennas or satellite dishes, communication aerials or masts, drones, watercraft, aircraft, motor vehicles or trailers, an object falling from a motor vehicle or aircraft, space debris or meteorites.
- Earthquake or tsunami Damage caused by an earthquake or tsunami, but excluding damage caused by the actions or movements of the sea.
- Glass breakage Glass breakage in free standing furniture such as table tops, dressing table mirrors and wall units.
- Lightning Lightning including power surge caused by lightning.
- Oil leakage from any heater
- Electric motor burnout If the motor in a household electrical machine or appliance burns out or fuses and that motor is less than 7 years old, we’ll help you take care of repair or replacement.
- Riot, civil commotion or public disturbance
We do not insure you for bushfire, storm, flood or tsunami in the first 72 hours of your policy. Very limited exceptions apply. Read the PDS for more detail.
Building
Protects your building against: loss or damage caused by tenants, their family or their invited guests. What does building include?
Provides cover for:
- Tenant Damage Theft, loss or damage caused by the tenant, the tenant’s family or the tenant’s invited guests.
- Pet damage Damage caused by a domestic pet that is owned by the tenant. Reptiles are excluded.
- Scorching Damage to bench/vanity tops caused by cigarettes, irons or hot cooking pots or pans.
Additional benefits
- Legal expenses up to $5,000* If a loss of rent claim is covered, we will also pay for legal expenses up to $5000 per claim, provided they have been incurred with our prior approval, and are for the purpose of reducing your loss of rent claim or filing a legal defence while the claim is being investigated.
- Representation costs up to $500* If your property is managed and you incur costs as a result of your Property Manager representing you in court or a tribunal to obtain a court order against the tenant, or your Property Manager engages a bailiff/sheriff for the purpose of evicting your tenant.
- Bailiff/Sheriff fees up to $300 per claimIf you incur costs as a result of engaging a bailiff/sheriff for the purpose of evicting your tenant.
- Replacement of locks up to $250 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.
- Re-letting expenses in excess of the bond up to $500* Payable where a claim is covered for loss of rent under a permanent tenancy, we will also pay up to $500 during any one period of insurance for re-letting expenses that exceed the tenant’s bond money.
- Removal and storage of goods up to $5,000 Where a claim is covered, we will pay up to $5,000 per tenancy or costs you incur (over and above the bond monies), to remove and store a tenant’s possessions from the property following the tenant having vacated and leaving their possessions. This benefit only applies if both removal and storage of these possessions is required by the Act.
- Legal liability cover up to $20 million Our policy covers your legal liability as the landlord for an occurrence which causes death or bodily injury to other people, or damage to other people’s property, up to the limit of $20,000,000.
- Emergency Service damage up to $1,000 Damage caused as a result of Emergency Service Personnel entering the property.
Detail of what's covered
If your property is managed by a property manager the Landlord Preferred Policy covers permanent or periodic tenancies and includes cover for:
Absconding tenant
A tenant who vacates with or without giving you the required notice. Also covers a tenant who vacates at the end of their lease leaving unpaid rent.
Up to 20 weeks loss of rent
Defaulting tenant (by court order)
A tenant’s lease is terminated by court or tribunal order for not paying rent.
Up to 20 weeks loss of rent
Defaulting tenant (by termination notice)
A tenant is issued a termination notice by yourself or your Property Manager for not paying rent.
Up to 20 weeks loss of rent
Failure to give vacant possession
If your tenant refuses to pay rent and vacate the property after a court order requires them to do so.
Up to 28 weeks loss of rent
Death of tenant
If your tenant passes away and they are the sole person on the lease for a permanent tenancy.
Up to 15 weeks loss of rent
Hardship
If a court releases your tenant from their lease obligations, over and above the amount they paid in bond, due to hardship.
Up to 4 weeks loss of rent
Untenantable property (due to tenant damage to building)
If your property isn't fit to house a tenant for a minimum period of 7 days due to tenant damage to your building by an insured event listed under the Building section.
Up to 52 weeks loss of rent
Untenantable property (due to contents damage)
If your property isn’t fit to house a tenant for a minimum period of 7 days due to your contents being damaged by an insured event listed under the Contents section.
Up to 6 weeks loss of rent
Prevention of access
Loss of rent when your tenant does not have access to the insured address, because of one of the following incidents:Damage to a building (but not the insured building), strata title property, road or street; Burst water main;Bomb threat or bomb damage; Street riot; Lift malfunction at the insured address (and tenant has a medical certificate stating they must use a lift); Emergency services refuse access to the insured building or evacuate your tenant for safety reasons. Cover will commence 7 days from the date access is first prevented, until access is restored.
Up to 52 weeks loss of rent
Rent reduction
The property remains tenantable following damage to building or contents but the tenant does not have full use of the property for a minimum of 7 days.
Up to 6 weeks reduction of rent under ‘Section 2: Contents’
Up to 52 weeks reduction of rent under ‘Section 3: Building (tenant damage)’
Tenant Damage
Theft, loss or damage caused by the tenant, the tenant’s family or the tenant’s invited guests.
Flood
The covering of normally dry land by water that has escaped or been released from the normal confines of any lake, river, creek or another natural watercourse (whether or not they have been altered or modified), or any reservoir, canal or dam.
Storm or rainwater
Damage from violent wind, cyclone or tornado which may also include rain, hail or snow.
Escape of liquid
Loss or damage caused by the accidental escape of liquid from: Any drain, fixed pipes, drainage and sewage systems (not forming part of a shower cubicle wall, floor or base); Water mains or pipes; Water tanks, aquariums and hot water systems; Gutters; Washing machines, dishwashers, refrigerators or freezers; Other parts of your building designed to contain or carry liquid such as sinks, basins, baths, showers and cisterns.
Break-in vandalism or theft
Theft or damage due to theft caused by: an unknown person (e.g. a burglar)
Pet damage
Damage caused by a domestic pet that is owned by the tenant. Reptiles are excluded.
Up to $5,000 per period of insurance (Combined with Building damage)
Scorching
Damage to carpet caused by cigarettes, irons or hot cooking pots or pans.
Up to $1,000 per period of insurance (Combined with Building damage)
Impact
Impact by: a falling tree or part of a falling tree including the roots, power poles, TV antennas or satellite dishes, communication aerials or masts, drones, watercraft, aircraft, motor vehicles or trailers, an object falling from a motor vehicle or aircraft, space debris or meteorites.
Earthquake or tsunami
Damage caused by an earthquake or tsunami, but excluding damage caused by the actions or movements of the sea.
Glass breakage
Glass breakage in free standing furniture such as table tops, dressing table mirrors and wall units.
Lightning
Lightning including power surge caused by lightning.
Electric motor burnout
If the motor in a household electrical machine or appliance burns out or fuses and that motor is less than 7 years old, we’ll help you take care of repair or replacement.
Reasonable costs for motors less than 7 years old
Tenant Damage
Theft, loss or damage caused by the tenant, the tenant’s family or the tenant’s invited guests.
Pet damage
Damage caused by a domestic pet that is owned by the tenant. Reptiles are excluded.
Up to $5,000 per period of insurance (Combined with Contents damage)
Scorching
Damage to bench/vanity tops caused by cigarettes, irons or hot cooking pots or pans.
Up to $1,000 per period of insurance (Combined with Contents damage)
Legal expenses
If a loss of rent claim is covered, we will also pay for legal expenses up to $5000 per claim, provided they have been incurred with our prior approval, and are for the purpose of reducing your loss of rent claim or filing a legal defence while the claim is being investigated.
Up to $5,000 per claim
Representation costs
If you incur costs as a result of your Property Manager representing you in court or a tribunal to obtain a court order against the tenant, or your Property Manager engages a bailiff/sheriff for the purpose of evicting your tenant.
Up to $500 per period of insurance (with a sub-limit of $300 per claim for engaging a bailiff/sheriff)
Replacement of locks
Payable when you need to replace the locks at the property following an eviction of the tenant due Defaulting tenant (by court order).
Up to $250 per claim
Re-letting expenses in excess of the bond
Payable where a claim is covered for loss of rent under a permanent tenancy, we will also pay up to $500 during any one period of insurance for re-letting expenses that exceed the tenant’s bond money.
Up to $500 per period of insurance
Removal and storage of goods
Where a claim is covered, we will pay up to $5,000 per tenancy or costs you incur (over and above the bond monies), to remove and store a tenant’s possessions from the property following the tenant having vacated and leaving their possessions. This benefit only applies if both removal and storage of these possessions is required by the Act.
Up to $5,000 per tenancy
Legal Liability
Our policy covers your legal liability as the landlord for an occurrence which causes death or bodily injury to other people, or damage to other people’s property, up to the limit of $20,000,000.
Up to $20million in legal liability
Emergency Service damage
Damage caused as a result of Emergency Service Personnel entering the property.
Up to $1,000 per claim
The Landlord Preferred Self Managed Policy covers landlords who manage the property themselves.
It includes:
Absconding tenant
A tenant who vacates with or without giving you the required notice. Also covers a tenant who vacates at the end of their lease leaving unpaid rent.
Up to 20 weeks loss of rent
Defaulting tenant (by court order)
A tenant’s lease is terminated by court or tribunal order for not paying rent.
Up to 20 weeks loss of rent
Defaulting tenant (by termination notice)
A tenant is issued a termination notice by yourself or your Property Manager for not paying rent.
Up to 20 weeks loss of rent
Failure to give vacant possession
If your tenant refuses to pay rent and vacate the property after a court order requires them to do so.
Up to 15 weeks loss of rent
Death of tenant
If your tenant passes away and they are the sole person on the lease for a permanent tenancy. Or your tenant or tenant's family die during their period of stay for holiday let properties.
Up to 15 weeks loss of rent
Hardship
If a court releases your tenant from their lease obligations, over and above the amount they paid in bond, due to hardship.
Up to 4 weeks loss of rent
Untenantable property (due to tenant damage to building)
If your property isn't fit to house a tenant for a minimum period of 7 days due to tenant damage to your building by an insured event listed under the Building section.
Up to 52 weeks loss of rent
Untenantable property (due to contents damage)
If your property isn't fit to house a tenant for a minimum period of 7 days due to tenant damage to your building by an insured event listed under the Building section.
Up to 6 weeks loss of rent
Prevention of access
Loss of rent when your tenant does not have access to the insured address, because of one of the following incidents:
Damage to a building (but not the insured building), strata title property, road or street;
Burst water main;
Bomb threat or bomb damage;
Street riot;
Lift malfunction at the insured address (and tenant has a medical certificate stating they must use a lift);
Emergency services refuse access to the insured building or evacuate your tenant for safety reasons.
Cover will commence 7 days from the date access is first prevented, until access is restored.
Up to 52 weeks loss of rent
Rent reduction
The property remains tenantable following damage to building or contents but the tenant does not have full use of the property for a minimum of 7 days.
Up to 6 weeks reduction of rent under ‘Section 2: Contents’
Up to 52 weeks reduction of rent under ‘Section 3: Building (tenant damage)’
false
Tenant Damage
Theft, loss or damage caused by the tenant, the tenant’s family or the tenant’s invited guests.
Flood
The covering of normally dry land by water that has escaped or been released from the normal confines of any lake, river, creek or another natural watercourse (whether or not they have been altered or modified), or any reservoir, canal or dam.
Storm or rainwater
Damage from violent wind, cyclone or tornado which may also include rain, hail or snow.
Escape of liquid
Loss or damage caused by the accidental escape of liquid from: Any drain, fixed pipes, drainage and sewage systems (not forming part of a shower cubicle wall, floor or base); Water mains or pipes; Water tanks, aquariums and hot water systems; Gutters; Washing machines, dishwashers, refrigerators or freezers; Other parts of your building designed to contain or carry liquid such as sinks, basins, baths, showers and cisterns.
Break-in vandalism or theft
Theft or damage due to theft caused by: an unknown person (e.g. a burglar)
Pet damage
Damage caused by a domestic pet that is owned by the tenant. Reptiles are excluded.
Up to $5,000 per period of insurance (Combined with Building damage)
Scorching
Damage to carpet caused by cigarettes, irons or hot cooking pots or pans.
Up to $1,000 per year (combined with Building damage)
Impact
Impact by: a falling tree or part of a falling tree including the roots, power poles, TV antennas or satellite dishes, communication aerials or masts, drones, watercraft, aircraft, motor vehicles or trailers, an object falling from a motor vehicle or aircraft, space debris or meteorites.
Earthquake or tsunami
Damage caused by an earthquake or tsunami, but excluding damage caused by the actions or movements of the sea.
Glass breakage
Glass breakage in free standing furniture such as table tops, dressing table mirrors and wall units.
Lightning
Lightning including power surge caused by lightning.
Electric motor burnout
If the motor in a household electrical machine or appliance burns out or fuses and that motor is less than 7 years old, we’ll help you take care of repair or replacement.
Reasonable costs for motors less than 7 years old
Tenant Damage
Theft, loss or damage caused by the tenant, the tenant’s family or the tenant’s invited guests.
Pet damage
Damage caused by a domestic pet that is owned by the tenant. Reptiles are excluded.
Up to $5,000 per period of insurance (Combined with Contents damage)
Scorching
Damage to bench/vanity tops caused by cigarettes, irons or hot cooking pots or pans.
Up to $1,000 per period of insurance (Combined with Contents damage)
Legal Liability
If a loss of rent claim is covered, we will also pay for legal expenses up to $5000 per claim, provided they have been incurred with our prior approval, and are for the purpose of reducing your loss of rent claim or filing a legal defence while the claim is being investigated.
Up to $5,000 per claim
Bailiff/Sheriff fees up to $300 per claim
If you incur costs as a result of engaging a bailiff/sheriff for the purpose of evicting your tenant.
Up to $300 per claim
Replacement of locks
Payable when you need to replace the locks at the property following an eviction of the tenant due Defaulting tenant (by court order).
Up to $250 per claim
Re-letting expenses in excess of the bond
Payable where a claim is covered for loss of rent under a permanent tenancy, we will also pay up to $500 during any one period of insurance for re-letting expenses that exceed the tenant’s bond money.
Up to $500 per period of insurance
Removal and storage of goods
Where a claim is covered, we will pay up to $5,000 per tenancy or costs you incur (over and above the bond monies), to remove and store a tenant’s possessions from the property following the tenant having vacated and leaving their possessions. This benefit only applies if both removal and storage of these possessions is required by the Act.
Up to $5,000 per tenancy
Legal Liability
Our policy covers your legal liability as the landlord for an occurrence which causes death or bodily injury to other people, or damage to other people’s property, up to the limit of $20,000,000.
Up to $20million in legal liability
Emergency Service damage
Damage caused as a result of Emergency Service Personnel entering the property.
Up to $1,000 per claim
This content applies to new policies and renewal policies commenced or renewed on or after 10 August 2024.
For full details of our policies we recommend you read the relevant Product Disclosure Statement.
The Target Market Determination is also available.