Insurance can give you the confidence that your property will be looked after should something go wrong. Loan Market Landlord Insurance provides insurance for 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 Landlord Buildings and Landlord 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.
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Designed to cover items at your property - from furniture, white goods and removable domestic appliances 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.
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Designed to cover the physical structures that make up your property, like the house itself, garage, sheds, permanently installed swimming pools and decks.
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.
Here is a limited summary of the benefits of a landlord insurance policy. For full details of the standard terms, conditions, limits and exclusions that apply please read the Landlord Product Disclosure Statement (PDS) and any applicable supplementary PDS before making a decision to purchase the insurance. The Landlord Buildings and Landlord Contents key fact sheets also set out some information about the cover.
Landlord Insurance |
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| Cover for the unexpected | Landlord Insurance offers cover for your investment property for out of the ordinary but devastating events such as fire7, storm and burglary. |
| Legal liability | Landlord Insurance 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 caused by an accident (or series of accidents). If you have contents cover only, it does not cover any legal liability you may incur as owner of the buildings unless the buildings are defined as a lot. |
| 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 (after deduction of any government or council rebates) to help you make the new buildings more environmentally friendly. |
| Contents | Allianz will pay for repair or replacement of contents you own and provide for your tenant’s use as a result of an insured event. If you select buildings cover, Landlord Insurance will pay up to $10,000. Alternatively, if you select contents cover, Landlord Insurance 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 access to or use of the buildings is not possible for at least 7 days after an insured event Allianz will pay for your loss of rent on the buildings for up to 12 months if you have buildings cover or if your building is part of a strata title development and you have contents cover only. |
| Rebuilding and professional fees | If you need to rebuild your home after total loss or damage, Allianz will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000. |
| Debris removal | Landlord Insurance will cover 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 claims assistance | When you need to make a claim Allianz are there for you with 24 hour claims lodgement available online, or you can call the claims line to commence the claims process over the phone. |
| Contents in the open air at the insured address | If you have contents cover, 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 $1,000. |
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Apply to add any of these optional covers for an additional premium and greater cover.
Landlord Insurance |
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| 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 |
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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 (subject to the policy terms and conditions) - 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.
Do what you reasonably can to prevent further loss, damage or liability. Tell the police as soon as reasonably possible about any malicious damage, theft, attempted theft, burglary or loss of insured property. Contact the Claims Call Centre on 13 10 13 and advise the Claims Consultant of what has happened: the Claims Consultant will help you through the landlord insurance claims process.
In order to be sure that you are covered under this policy you should always contact Allianz for approval before you incur expenses you wish to claim. If you do not, Allianz will pay for expenses incurred to the amount Allianz would have authorised had you asked Allianz first.
You can apply to add these options to your policy when you start or renew it (or during your period of insurance by contacting Loan Market Insurance on 1800 142 020). If you’re not sure whether you have added these cover options, you can check your policy schedule.
This insurance policy has been designed for people who are renting their property out to tenants under a residential rental agreement.
Contents owned by you (or for which you are legally responsible) and provide for the use of the tenants may also be covered under the policy.
This policy is not suitable for covering the building or contents of the home you live in. In this regard, Allianz offer a Home and Contents product that has been specifically designed for homeowners or renters.
For more information on Home and Contents insurance, please visit the product page.
The replacement value of your buildings is not the same as the market value – you do not need to include the value of the land when calculating the buildings’ replacement value.
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 relevant Landlord Product Disclosure Statement (PDS), any applicable supplementary PDS, and the Landlord Buildings or Landlord Contents key fact sheets also available for reference.
#By proceeding with a quote you agree to receive our Financial Services Guide from this website.
Concierge Group Holdings Pty Ltd ABN 95 105 230 046 AR 267687 trading as Loan Market Concierge and Loan Market Insurance arranges this insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. 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 product disclosure statement and key fact sheets available at https://loanmarketinsurance.com.au. The relevant Target Market Determination is available by calling 1300 658 390. If you purchase this insurance, we will receive a commission that is a percentage of the premium. Ask us for more details before we provide you with services.
The Financial Services Guide - Loan Market Insurance can be viewed here.
1. Save up to 10% on your first year's premium when you quote and buy a new landlord insurance policy online.
When you both quote and buy a new Landlord insurance policy online a premium discount of up to 10% is applied to your first year’s premium. This discount is not applied to Landlord workers’ compensation (if available and selected), or upon renewal. Minimum premiums may apply.
2. No Claim Bonus
When you take out a new policy, we calculate your No Claims Bonus (NCB) based on your home or landlord (as applicable) insurance claims history. To qualify for the maximum No Claim Bonus of up to 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding 5 years. Landlord customers must have had no Landlord insurance claims in the preceding 3 years. However, customers who have had claims may still qualify for a reduced No Claim Bonus. We won’t apply the full percentage of the No Claim Bonus if it results in you paying less than the minimum premium.
The No Claim Bonus isn't applied to the flood component of the premium (if covered), or Landlord workers' compensation (if available and selected).
3. Minimum premiums
Where discounts are applied, your premium is subject to rounding. If more than one discount applies, they’re applied in a predetermined order, so the later discounts apply to the amount already reduced by the earlier discounts instead of the total amount.
Discounts do not apply to government taxes and charges.
Most discounts won’t apply below the minimum amount payable for the policy.
4. Option to change your excess
Not available with respect to any additional compulsory excess, or to any imposed excess applied to the policy. Any reduction in premium won’t be applied to government taxes and charges, any flood component of the premium (where covered), or to Landlord’s workers compensation (if available and selected) and the Theft by tenant part of the optional cover Rent Default and Theft by Tenant (if selected). Minimum premiums may apply.
5. Instalment premiums
If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
6. 72 Hour exclusion period
We may not provide cover for any loss of or damage to your property caused by cyclone, grassfires and bushfires, and certain other insured events during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. Refer to the PDS for a full list of the insured events to which the 72 hour exclusion period applies and the relevant exceptions.