A residential investment property needs to be appropriately protected. Insurance can give you the peace of mind and confidence that your property will be looked after should something go wrong. Allianz Landlord Insurance through Small Business First covers the property and/or the contents you provide for your tenant’s use.
To help you decide the cover you need, Here’s a brief outline of the difference between Buildings and Contents cover.
Designed to cover the physical structures that make up your property, like the house itself, garage, sheds, permanently installed swimming pools and decks. Generally for customers who own a freehold home – like a house, townhouse, terrace or semi-detached dwelling.
Designed to cover items at your property – from furniture, removable domestic appliances and white goods which belong to you as the landlord and that you have provided for the use of your tenant. It also covers your carpets and window furnishings.
Features and Benefits
The better you understand your policy, the easier it will be if you ever have to claim.
Here is a limited summary of the benefits of a landlord insurance policy. For full details of the terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS), any applicable supplementary PDS and Landlord Buildings and Landlord Contents Key Fact Sheets (KFS) before making a decision to purchase the insurance.
Select the cover to suit your needs.
Effective 18 November 2019
Cover for the unexpected
Allianz offers protection for your investment property for out of the ordinary but devastating events such as fire, storm and burglary.
Allianz will cover your legal liability up to $20 million for payment of compensation relating to death, bodily injury or illness, and/or physical loss of or damage to property.
Making your buildings environmentally friendly
If your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Allianz will pay up to $5,000 to help you make the new buildings more environmentally friendly.
In the event you require repair or replacement of your contents you own and provide for your tenant’s use. If you select buildings cover, Allianz will pay up to $10,000. Alternatively, if you select contents cover, Allianz will pay, up to the sum insured.
Rental costs after an insured event
If your buildings are damaged by an insured event and can’t be lived in by your tenant, or, Allianz agree access to or the use of your buildings was not possible Allianz will pay for your loss of rent on the buildings for up to 12 months.
Rebuilding and professional fees
If you need to rebuild your buildings after total loss or damage, Allianz will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.
Allianz will pay up to 10% of the building and/or contents sum insured for removing debris from your insured address if your buildings are damaged or destroyed by an insured event.
24/7 emergency claims assistance
When you need to make a claim Allianz are there for you with a 24 hour claims line, helping you get back on track again as soon as possible.
Contents in the open air at the insured address
Allianz will cover contents in the open air (that you own and that you have provided for your tenants use) which have been lost or damaged by an insured event covered by your policy, up to a maximum amount of $200.
Add any of these optional covers for an additional premium and greater cover.
Optional cover – Landlord workers’ compensation cover
Cover for the compensation amount you are liable to pay if you employ a domestic worker and they are injured while working for you at the insured address. Only available in ACT, WA and TAS
Rent default & theft by tenant
- Option to be covered for loss of rent due to specified rental defaults, up to $10,000 in total.
- Cover for loss or damage to your insured buildings or contents caused by theft, burglary or housebreaking committed by your tenant or invitees of your tenant.
Optional cover - Flood cover
Flood cover may be available as an optional cover to your buildings and/or contents. A 72 hour exclusion period applies.
If you purchased home or landlord insurance before 18 November 2019, please refer to the relevant Landlord Product Disclosure Statements, any applicable supplementary PDS and Buildings or Contents Key Fact Sheet/s.
Policy Documents and Key Fact Sheets
We do not provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please refer to the Landlord Product Disclosure Statement (PDS) any applicable supplementary PDS and Landlord Buildings or Landlord Contents key fact sheets also available for reference.
Landlord Insurance Calculators
It’s up to you to decide the sums insured, and the type and level of cover that you want to take out. People generally want enough insurance to cover the property’s estimated replacement value. If you don’t have enough cover, you could end up having to cover some of the costs yourself. Remember, Allianz will only pay up to the amount of your loss or the sum insured, whichever is the lesser - so you should also be careful not to over insure. That's why we've provided these calculators. They work as guides to help you estimate the replacement value of your landlord building and contents.
Building replacement calculator
Contents replacement calculator