Landlord Insurance

Save up to 10% on your first year’s premium when you buy a new policy online 1, 4

Protect your investment property and landlord’s contents from insured events such as theft, fire, storm and malicious damage.

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. Over Fifty’s Landlord Insurance 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.

Landlord Buildings

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.

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Landlord Contents

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.

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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 16 December 2019

Cover for the unexpected

Over Fifty’s Landlord Insurance offers protection for your investment property for out of the ordinary but devastating events such as fire, storm and burglary.

Legal liability

Over Fifty’s 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

Making your buildings environmentally friendly

If your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Over Fifty’s Landlord Insurance 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 the contents you own and provide for your tenant’s use, Over Fifty’s Landlord Insurance will pay up to $10,000 toward those belongings with buildings cover, or up to the sum insured with contents cover.

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 we 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 or the length of time we agree is reasonably necessary to reinstate access to your buildings.

Rebuilding and professional fees

If you need to rebuild your buildings after total loss or damage, Over Fifty’s Landlord Insurance will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.

Debris removal

Over Fifty’s 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 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

Over Fifty’s 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 $200.

Optional covers

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

Flood cover

Flood cover may be available as an optional cover to your buildings and/or contents. A 72 hour exclusion period applies.

What does Landlord Insurance cover?

Buildings > What’s covered?

Buildings insurance is designed to protect the physical structures and fixtures that make up your buildings: from the house itself, to the garage, fences and paved driveways – even built-in appliances like showers and baths, hot water systems, air-conditioners and more.

Contents > What’s covered?

Contents insurance protects the belongings you have at the insured address that you have provided for the use of your tenant: from your furniture, carpet and appliances and even your BBQ. So, if any of the insured events happen during the period of insurance, we’ll generally pay to repair or replace your contents – up to the policy limits.

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 relevant Landlord Product Disclosure Statement (PDS) any applicable supplementary PDS and Landlord Buildings or Landlord Contents key fact sheets also available for reference.
If you purchased landlord insurance before 16 December 2019, please refer to the relevant Over Fifty’s Landlord Insurance Product Disclosure Statement, any applicable supplementary PDS, and Building or Content Key Fact Sheet/s.

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, we 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

Value my home

Contents replacement calculator

Value my contents

Frequently asked questions

What do I do if I need to make a landlord insurance claim?

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 651 777 and advise the Claims Consultant of what has happened: the Claims Consultant will help you through the landlord insurance claims process.

Am I covered for Flood?

Flood cover is an option on both Building and Contents in Home and Landlords policies. Please call us on 13 31 30 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 any supplementary PDS and Landlord Buildings or Landlord Contents Key Fact Sheets.

How do I know if I have optional covers on my policy?

You can apply to add these options to your policy when you start or renew it (or during your period of insurance by contacting Over Fifty’s Landlord Insurance on 13 31 30) ​. If you’re not sure whether you have added these cover options, you can check your policy schedule.

Who is Landlord insurance policy designed for?

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 product page.

 

How should I determine the replacement value of my buildings?

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.

Next steps

Get a quote nowRetrieve a quoteMake a claim

Over the phone – 24 hours a day, 7 days a week claims lodgement hotline

To submit a claim over the phone call 13 31 30, select claims and one of our friendly consultants will assist you.

DISCLAIMERS
Over Fifty Insurance Pty Ltd ABN 58 007 165 200 AR 295939 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. Any information contained on this page is for general information only, and is not intended to be advice. Policy terms, conditions, limits and exclusions apply. Before making a decision, please consider the relevant Product Disclosure Statement available from over50insurance.com.au. 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.
1. Online discount
A premium discount of up to 10% is applied to your first years premium when you buy a new Landlord insurance policy online including to optional covers if selected. This discount is not applied on renewal.
4. Minimum premiums
If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced.  For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.
Discounts do not apply to taxes or government charges.
Discounts do not apply to optional covers for Domestic Workers Compensation / Landlord Workers Compensation, and may not apply to other optional covers (if available and selected). Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.