A residential investment property needs to be appropriately insured.
Landlord insurance can give you the confidence that your property will be covered should something go wrong. Beyond Bank Landlord Insurance covers the property and/or the contents you provide for your tenant’s use from loss or damage by insured events.
Cover for your investment property from insured events.
Save up to 10% on your first year’s
premium when you quote and buy a new landlord insurance policy online.1,2
Pay by the month at no extra cost.3
To help you decide the cover you need, here’s a brief outline of the difference between Buildings and Contents cover.
Buildings.
Designed to cover the physical structures that make up your property, like the house itself, garage, sheds, permanently installed swimming pools and decks.
Contents.
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.
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 standard terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS), any applicable supplementary PDS before making a decision to purchase the insurance. The Landlord Buildings and Landlord Contents Key Fact Sheets (KFS) also sets out some information about the cover.
- Cover for the unexpected
Beyond Bank Landlord Insurance offers cover for your investment property for out of the ordinary but devastating events such as fire4, storm4 and burglary.
- Legal liability
Beyond Bank 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 you have buildings cover and your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Beyond Bank Landlord Insurance will pay up to $5,000 (after deduction of any government or council rebates) to help you make the new buildings more environmentally friendly.
- Landlords contents
Beyond Bank Landlord Insurance 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 have buildings cover only, Beyond Bank Landlord Insurance will pay up to the lesser of $10,000 or the remainder of the sum insured after payment of the buildings claim, for certain landlords contents under this additional benefit.
- 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 Beyond Bank Landlord Insurance 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 have buildings cover and need to rebuild your buildings after buildings after total loss or damage, Beyond Bank Landlord Insurance will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.
- Debris removal
Beyond Bank 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 online claims lodgement
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, Beyond Bank Landlord Insurance 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 $1000.
Optional covers.
Apply to 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.
Optional cover - Flood cover
- Flood cover may be available as an optional cover to your buildings and/or contents. A 72 hour exclusion period applies4.
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 (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.
Frequently Asked Questions.
Please read this important information.
Disclaimers.
Beyond Bank Australia Ltd ABN 15 087 651 143 AFSL/Australian Credit License 237 856 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No 234708.
We do not provide any advice based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits and exclusions apply. Before making a decision, please consider the relevant Product Disclosure Statement available from www.beyondbank.com.au/disclosures. The relevant Target Market Determination is available by calling 13 25 85. 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.
If you obtain or purchase insurance through our website you also agree to have received our Financial Services Guide (FSG) which is available from our website.
1. Minimum premiums may apply.
Any discounts and entitlements may be subject to rounding and only apply to the extent any minimum premium isn’t reached. If you’re eligible for more than one, Allianz also apply each of them in a predetermined order to the premium (excluding taxes and government charges) as reduced by any prior applied discounts and entitlements. Discounts may not be applied to the premium for optional covers.
2. Online discount. When you quote and buy a new Landlord Insurance policy online, a discount of up to 10% is applied to your first year’s premium including the following optional covers (if selected): Flood and Rent Default and Theft by Tenant. This discount isn’t applied on renewal.
3. 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.
4. 72 hour exclusion period. We may not provide cover for any loss of or damage to your property caused by cyclone, flood, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. Refer to PDS for when exclusion periods apply.
