Landlord Insurance

Features

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 Heritage Bank covers the property and/or the contents you provide for your tenant’s use.

  • Cover for your investment property
  • Save up to 10% on your first year's premium when you buy a new policy online1,4
  • Pay by the month at no extra cost 6
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 the 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 16 December 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.

Legal liability

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. 

Landlord contents

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. 

Optional Covers

Add any of these optional covers for an additional premium and greater cover.

Optional cover Description
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.
Flood cover Flood cover may be available as an optional cover to your buildings and/or contents. A 72 hour exclusion period applies.
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 Heritage Bank Financial Services Guide, the relevant Landlord Product Disclosure Statement (PDS), any applicable supplementary PDS and the Landlords Buildings or Landlords Contents Key Fact Sheet/s (KFS).

If you purchased landlord insurance before 16 December 2019, please refer to the relevant Product Disclosure Statements, any applicable supplementary PDS and Buildings or Contents Key Fact Sheets.
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 buildings and contents.
FAQ's

Take all reasonable precautions to prevent further loss, damage or liability. Contact the police immediately to report any malicious damage, theft, attempted theft, burglary or loss of insured property. Contact the Claims Call Centre on 1300 555 030 and advise the Claims Consultant of what has happened: the Claims Consultant will help you through the landlord insurance claims process.
Flood cover is an option on both Building and Contents in Home and Landlords policies. Please call us on13 14 22 to find out whether you are eligible for Flood cover. For full details of terms, conditions, limits and exclusions of all our home insurance cover options, please refer to the relevant Product Disclosure Statement (PDS), any applicable supplementary PDS and the Landlord Buildings and Landlord Contents Key Fact Sheets (KFS) before making a decision to purchase the insurance.
You can apply to add these options to your policy when you start or renew it (or during your period of insurance by contacting Heritage Bank on 13 14 22). 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, we 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 home and contents 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.