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 Credit Union SA 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.
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
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.
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.
Building replacement calculator
Contents replacement calculator
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 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.
Select the cover to suit your needs. Effective 22 February 2021.
Cover for the unexpected
Allianz Landlord Insurance through Credit Union SA offers protection for your investment property for out of the ordinary but devastating events such as fire, storm and burglary.
Allianz Landlord Insurance will pay 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 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.
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 Landlord Insurance will pay up to $10,000. Alternatively, if you select contents cover, Allianz 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 after an insured event Allianz will pay for your loss of rent on the buildings for up to 12 months.
Rebuilding and professional fees
If you need to rebuild your buildings after total loss or damage, Allianz Landlord Insurance will pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.
Allianz Landlord Insurance will pay 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
Allianz Landlord Insurance will pay 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.
Apply to 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 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 Landlord Product Disclosure Statement (PDS), any applicable supplementary PDS and Landlord Buildings and Landlord Contents Key Fact Sheets (KFS) also available for reference.
Want to do more with your money?
Credit Union SA Ltd ABN 36 087 651 232, AFSL/Australian Credit Licence Number 241066, 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 creditunionsa.com.au/terms-and-conditions. 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 When you buy a new Landlord insurance policy online a premium discount of up to 10% is applied to your first years premium including the optional cover Flood. 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.
6 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.