Coles is a brand every Australian will know, but did you know they offer landlord insurance too? Not only can you get cover for your home and contents, but you can also get protection against rent default or damage by a tenant as well as loss of rent if an accident makes your home uninhabitable. Cole also offers benefits to their customers, such as double flybuy points and a 10% discount if you purchase a policy online. But what does a Coles landlord policy cover? Are there any exclusions and how do you make a claim?
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What cover options do they have?
- Home. If you’re just looking to protect the building itself, including the driveway, common areas and permanent fixtures, then you needn’t look further than home insurance.
- Contents. Got an expensive TV or furnishings that you want covered? Contents insurance will protect any non-permanently fixed items within your property,
- Home and contents. You can cover both the house and everything in it with home and contents insurance, which combines the best of both worlds and makes sure you’re not out of pocket in an emergency. You can go even further and add extra cover to protect against loss of rent and tenant-based events (see below).
What events does a policy cover?
| Contents | Home | |
|---|---|---|
| Fire | ||
| Flood | ||
| Storm | ||
| Accidental glass breakage | ||
| Lighting or thunderbolt | ||
| Theft or attempted theft | ||
| Earthquake | ||
| Impact | ||
| Bursting, leaking, discharge or overflowing | ||
| Vandalism and malicious acts | ||
| Animal damage | ||
| Explosion | ||
| Riots or civil commotion | ||
| Removal of debris | ||
| Professional fees | ||
| Keys & lock replacement | ||
| Legal liability |
What additional cover options are there?
- Motor burnout. This covers any reasonable cost to repair or replace an electric motor.
- Damage caused by tenants. This covers your home and/or contents if your tenant or their guests cause damage to them. You are protected against any kind of legal liability as a result of neglect or poor housekeeping by the tenant.
- Tenant’s rent default. You can get up to 10 weeks of rent or $5000 total, whichever is lesser, if your tenant leaves without notice, defaults on rent owed or is legally evicted from the property due to breach of lease.
- Loss of rent. If your home is rendered uninhabitable, this option will cover a period of rent you would be paid. The period will extend to the end of a lease period or until the house if deemed habitable, whichever is shorter.
What exclusions are there?
Specific exclusions will depend on your circumstances, so be sure to consult your broker before taking out any policy. General exclusions to your policy include any loss or damage due to the following:
- Any natural event (bushfire, flood, storm, etc) within 48 hours of taking out a policy
- Any earth movement not caused by an earthquake
- Actions of the sea
- Unlawful or deliberate acts by yourself or someone on your behalf
- Construction, renovations or alterations
- Non-compliance with government regulations
- Errors in computing programing
- Asbestos or derivatives
What excess do I need to pay?
Your excess amount will depend on what you are claiming for. For example, if someone attempts to break into your home, you may need to lodge a claim for both attempted theft and for vandalism. Your policy will state your excess amounts.
How do I make a claim?
In the event of an accident or emergency, take every action to avoid any further loss, damage or injury and contact the police or any other emergency service. Retain any documents or reports and contact Coles on 1300 265 374 anytime, day or night.
