Allianz Landlord Insurance

If you’ve moved from owning your own home to renting it to others, you’re going to need more than a simple home insurance policy. Landlord insurance protects properties that you are gathering rent from but not living in yourself. Allianz is one of Australia’s largest insurance companies. Does it have the right policy to protect your investment property? Read on for a full breakdown of its policy options, what’s included and excluded and how to make a claim.

What are you covered for?

• Your home. When a policy mentions your home or a building, this also includes pipes, cables, ducting, wires, switches and meters, fixed appliances, carports, patios, paved paths and driveways and other permanent fixtures (pools, spas, etc).
• Your contents. Referring to property owned by you as the landlord or for which you are responsible. This includes carpets, curtains and blinds, furniture and furnishings, non-permanent light fittings, removable domestic appliances and utensils, swimming pools and their accessories.

What benefits come with my cover?

What additional cover options are there?

• Rent default and theft by tenant. If your tenant fails to make payment, leaves without notice or has died, this option will cover the default rent either until another tenant takes up residence or payment of rent recommences.
• Strata title mortgage protection. If a strata title development that contains your lot has been destroyed and the common property has not been insured, this option would cover either the unpaid balance of your mortgage at the time of the incident or the amount for the damage or loss, whichever is the lesser.
• Landlord workers’ compensation. If you employ people to work on or around your rental property, this optional cover will protect you should you be liable to pay if they are injured while working for you. This option in not a comprehensive workplace cover and if you are operating your own business or employing full-time or part-time staff, a separate general workers’ compensation policy is necessary.

What exclusions are there?

There are certain situations or circumstances where you will not be eligible to make a claim. Specific requirements will depend on your policy and additional options, but generally you will not be covered for any wear and tear on property or contents that have seen their day. If you intentionally damage your property or house, or ask someone else to do it for you, your claim will be rejected. You won’t be able to claim against any dodgy workmanship or faulty designs and defects. Damage from the application of heat (for example, installing laminate) will also be thrown out. There are a few far-flung exclusions, such as war and terrorism, all of which will be listed in your policy document. If you have any questions, be sure to ask your broker.

What excess do I need to pay?

Your excess will depend on the type of claim you make, which will be outlined in your policy and can be discussed with your insurance broker. You may be required to pay multiple excesses, depending on the incident, for example a storm may inflict damage to your home and a resulting flood that damages your contents may both require a separate excess in your policy.

How do I make a claim?

In the event of an accident or incident, there are a few things to do. First, prevent any further damage or injury if it is safe to do so. Do no admit any liability as fault will be adjudicated on once an investigation has been conducted.

Contact the police and keep all evidence and documents of the loss or damage and contact Allianz as soon as possible on 13 1000.