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Comminsure landlord insurance
Comminsure landlord insurance: review policies from one of Australia's most popular banks.
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The Commonwealth Bank of Australia is the country's leading provider of financial services, offering a number of retail, premium, banking and superannuation products and services. It also provides a number of insurance products including home, car, travel, life and landlord insurance. Read on to find out more about the latter.
Some landlord insurance policies have temporarily removed benefits such as rent default and a few others because of the pandemic. Make sure to check this with the insurer before deciding on a policy.We don't currently have this brand on our panel. But don't fret! You can head to the Comminsure website or compare a bunch of other landlord insurance companies with Finder.
Comminsure landlord insurance policy
Here are the landlord insurance policies Comminsure offers:
Building and contents cover
This covers both your investment property and the contents that are kept at the property. You're insured against events including loss or damage caused by fire, flood, storm, theft, motor burnout and more. There's also several additional benefits available like emergency work, temporary repairs, mortgage discharge and more. You can also save up to 10% with a combined building and contents policy.
Building cover only
This covers your building from loss or damage caused by fire, flood, storm, theft, motor burnout and more. It doesn't include contents insurance but the building cover can include garages, sheds, granny flats and other outbuildings.
Contents cover only
For landlords who don't need building cover, this looks after the items kept at your building that you lease out to tenants, including furniture and white goods. It protects you from loss or damage caused by fire, flood, theft, storm, motor burnout and more.
Optional covers
You can increase your cover by adding accidental damage (this comes with building only), loss of rent (this cover is temporarily unavailable) or malicious damage or theft by tenants. To do this, you'll need to pay extra.
Comminsure policy benefits
The table below outlines the benefits you'll be covered for with each Comminsure policy.
| Insured events | Building | Contents |
|---|---|---|
| Accidental glass breakage | ||
| Animal damage | ||
| Burning out of electric motors and power surge | ||
| Earthquake | ||
| Escape of liquid | $500 | $500 |
| Explosion | $1,000 | $1,000 |
| Fire | ||
| Flood | ||
| Legal liability | $20,000,000 | $20,000,000 |
| Lightning | ||
| Malicious act including vandalism | ||
| Riot and public disturbances | ||
| Storm | ||
| Sudden impact | ||
| Theft or attempted theft |
| Insured events | Building | Contents |
|---|---|---|
| Accidental glass breakage | ||
| Animal damage | ||
| Burning out of electric motors and power surge | ||
| Earthquake | ||
| Escape of liquid | $500 | $500 |
| Explosion | $1,000 | $1,000 |
| Fire | ||
| Flood | ||
| Legal liability | $20,000,000 | $20,000,000 |
| Lightning | ||
| Malicious act including vandalism | ||
| Riot and public disturbances | ||
| Storm | ||
| Sudden impact | ||
| Theft or attempted theft |
Comminsure landlord insurance policies include more benefits including:
| More benefits | Building | Contents |
|---|---|---|
| Alternative accommodation | Up to 52 weeks | Up to 52 weeks |
| Contents in transit | ||
| Damage by emergency services | ||
| Demolition and debris removal costs | ||
| Domestic pet cover | Up to $1,000 for veterinary expenses Up to $3,000 for alternative accommodation | Up to $1,000 for veterinary expenses Up to $3,000 for alternative accommodation |
| Emergency work and temporary repairs | ||
| Loss of rent | ||
| Matching benefit | ||
| Mortgage discharge | ||
| Moving within Australia | No more than 14 days | |
| Storage fees | Up to 120 days | Up to 120 days |
| Temporary removal of your contents | 20% of your contents sum insured | |
| Visitors' property | $2,000 |
| More benefits | Building | Contents |
|---|---|---|
| Alternative accommodation | ||
| Contents in transit | ||
| Damage by emergency services | ||
| Demolition and debris removal costs | ||
| Domestic pet cover | ||
| Emergency work and temporary repairs | ||
| Loss of rent | Up to 52 weeks | Up to 52 weeks |
| Matching benefit | ||
| Mortgage discharge | ||
| Moving within Australia | No more than 14 days | |
| Storage fees | Up to 120 days | Up to 120 days |
| Temporary removal of your contents | 20% of your contents sum insured | |
| Visitors' property |
These are optional add ons you can pay extra for.
| Optional Covers | Building | Contents |
|---|---|---|
| Accidental damage | ||
| Domestic workers' compensation cover | ||
| Loss of rent extra | ||
| Malicious damage or theft by tenants | ||
| Portable contents cover |
| Optional Covers | Building | Contents |
|---|---|---|
| Accidental damage | No | |
| Domestic workers' compensation cover | ||
| Loss of rent extra | Up to 16 times weekly rent Expenses to evict your tenant up to $1,500 Expenses incurred to re-tenant your insured address up to $500 | Up to 16 times weekly rent Expenses to evict your tenant up to $1,500 Expenses incurred to re-tenant your insured address up to $500 |
| Malicious damage or theft by tenants | ||
| Portable contents cover |
Comminsure landlord insurance excesses
An excess is an amount you have to contribute when the insurer agrees to pay your claim. The amount you need to pay can differ but the excess amounts should be outlined in your Certificate of Insurance. The following excess options are available with Comminsure:
| Cover type | Excess options |
|---|---|
| Building | $100, $200, $300, $500, $750, $1,000, $2,000, $5,000 |
| Contents | $100, $200, $300, $500, $750, $1,000, $2,000, $5,000 |
You don't need to pay an excess for legal liability claims. Claims for portable contents cover and accidental damage to your building or contents may result in you having to pay additional excesses on top of the standard one.
Submitting a Comminsure landlord insurance claim
To submit a Comminsure landlord insurance claim, follow these steps:
- Check your Certificate of Insurance to make sure you're covered for the incident.
- Make sure you have your policy and personal details ready.
- Have details of what happened and the damage caused, including photographs.
- If possible, have receipts.
- Submit your claim online or call 13 2423.
After this stage, Comminsure will assess your claim and if it's for your building, it may arrange for an inspection to see the damage. For contents claims, Comminsure will likely be able to assess the information you have provided.
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