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.
To help you decide the cover you need, here’s a brief outline of the difference between Buildings and Contents cover.
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.
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.