Bendigo and Adelaide Bank is an Australian financial institution and was formed by the merger of Bendigo Bank and Adelaide Bank in late 2007. As well as banking, it provides a number of insurance products including home, car, travel, life and landlord insurance.
Bendigo Bank Landlord Insurance policy
Here are the landlord insurance policies Bendigo Bank offers:
Building Cover
This covers the property itself, which can include in-built pools, spas, garages, sheds, fences and decks. It also protects infrastructure (e.g. supply of electricity, gas, water, Internet and phone), but not contents or belongings at the property.
Building & Contents
This policy covers both your building and the contents kept at the property. It's suited to landlords who want ultimate peace of mind knowing that the building and belongings are covered. You're insured for events including fire or explosion, theft, landslide or subsidence, impact by a vehicle, water damage, vandalism, storm, flood, rainwater or wind and more.
Contents Cover
This cover is suited to landlords whose building is already insured by an owners' corporation or strata, so you only need insurance for the contents kept at the property. This can include carpets, blinds, non-in-built swimming pools and spas, curtains, furniture, white goods and more.
What you get with a Bendigo Bank policy
The table below shows you exactly what you'll be covered for with each individual policy.
Insured event
Building and contents
Building cover
Contents cover
Accidental damage
Electric motor burnout
Fire or explosion
Landslide or subsidence
Loss or damage by a tenant or their visitors
Storm, flood, rainwater or wind
Theft or attempted theft
Water or liquid damage
Pet damage
$2,500
$2,500
$2,500
More benefits you can get with a Bendigo Bank landlord insurance policy include the following:
More benefits
Building and contents
Building cover
Contents cover
Debris removal and demolishing
10% of sum insured
10% of sum insured
10% of sum insured
Mortgagee discharge costs
Rebuilding fees
10% of building sum insured
10% of building sum insured
Sale of your rental property
Increased sum insured
These are optional add ons. They're not automatically covered unless you want to pay more to get them included in your policy.
Optional add-ons
Building and contents
Building cover
Contents cover
Liability cover
Sum insured
Sum insured
Sum insured
Loss of rent
12 months up to sum insured
12 months up to sum insured
12 months up to sum insured
Rent default and theft by a tenant
$5,000
$5,000
$5,000
Strata title mortgagee protection
Available as a stand-alone policy
Available as a stand-alone policy
Available as a stand-alone policy
Workers' compensation
Bendigo Bank landlord insurance excesses
An excess is a payment you have to contribute towards the cost of a claim. Bendigo will let you know when and if you need to pay an excess when you make a claim.
The type of excess that applies to your policy and the amount that you need to pay will be listed on your policy schedule. In some circumstances, you might be required to pay more than one excess. If you make a claim for loss or damage that occurs as a result of an earthquake or tsunami, your excess will be increased by $250. Even if you make one claim for separate incidents, you'll most likely need to pay an excess for each incident.
How to submit a Bendigo Bank landlord insurance claim
You can lodge your Bendigo Bank landlord insurance claim by calling CGU on 132 480 or through the CGU Insurance claims page. To get your claim sorted as quickly as possible, have the following information handy:
Details of the incident Explain what happened, including times, dates, witnesses, locations and other relevant information Photos Your policy number Any supporting documents like police reports, where relevant
Who is eligible for a Bendigo Bank landlord insurance policy?
The main eligibility criteria for a Bendigo Bank landlord insurance policy includes:
The type of property you own. It must be a free standing house, townhouse, villa or duplex, semi-detached house or terrace. It's not suitable for body corporate buildings and houseboats.
How you use the property. It must be rented out to tenants or a short-term rental agreement of more than 3 months.
The condition of your property. The home needs to meet acceptable dwelling criteria. For example, it should be secure, watertight, structurally sound and well maintained.
Frequently asked questions
Bendigo Bank home insurance policies are underwritten by Insurance Australia Limited (IAG), one of Australia's biggest insurance companies. So, when you choose Bendigo, you're backed by a well-established name in the biz.
Landlord protection insurance is like a shield for your rental property. It covers you for things like accidental damage by tenants, loss of rent if they skip out, and even legal costs if you need to take them to court. It's basically peace of mind wrapped in a policy.
Bendigo Bank is an independent, customer-owned bank. It merged with another customer-owned bank, Adelaide Bank, in 2007. Because it's a building society, its profits belong to its members (aka, customers like you). The bank says this means a focus on competitive rates and personalized service.
Bendigo Bank consistently ranks well in customer satisfaction surveys, scoring high for things like helpful staff and easy-to-understand products. They're also known for their community involvement, which might be a plus for some folks.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
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