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Elders landlord insurance

Elders landlord insurance: flexible, award-winning cover.

Gary Hunter
Gary Hunter

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Elders has been around for over 100 years and specialises in a wide range of insurance products, from farm to business insurance. It's owned by QBE, one of Australia's largest general insurers and offers landlord insurance to investment property owners.

warningSome 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.
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Elders landlord insurance cover options

With Elders, you can get cover for the following:

Building and contents

This policy covers both the building and the contents at the property. It's suited to landlords who want peace of mind and insures you for events including fire, theft, impact by a vehicle, water damage, vandalism, storm, flood and more.

Building only

This insures the property itself. It can include in-built pools, garages, sheds, fences and the building itself. You are covered for loss or damage caused by fire, smoke or explosion, floods, storms and more.

Contents only

This is tailored to landlords whose rental property is already insured by an owners corporation or strata, so contents cover is all you need. With this, your carpets, blinds, curtains, furniture, white goods and more will be covered for accidental loss of, and accidental or malicious damage to, home and contents and more.

Elders policy benefits

Here's what you're entitled to with an Elders policy.

Insured eventsBuildingContentsBuilding and contents
Fire, smoke or explosion
Flood, storm
Lightning or thunderbolt
Earthquake or tsunami
Theft or attempted theft
Accidental, malicious acts
Riot, civil commotion
Escape of liquid
Impact
Fusion of an electric motor
Power surge
Erosion, subsidence, landslide
Damage caused by animals

Want more benefits? Here's what else you can get cover for.

Additional benefitsBuildingContentsBuilding and contents
Fees
Removal of debris
Extra costs of reinstatement
Replacement of locks and keys$3,000$3,000$3,000
Change of site
Maximum of 60 daysMaximum of 60 days
Trees, shrubs, plants
Up to $5,000Up to $5,000
Building materials$2,000
$2,000
Loss of rentWill pay up to the greater of $25,000 or 20% of sum insured for your home or contentsWill pay up to the greater of $25,000 or 20% of sum insured for your home or contentsWill pay up to the greater of $25,000 or 20% of sum insured for your home or contents
Automatic reinstatement of sum insured
Inflation adjustment
Legal costsReasonable cost
Reasonable cost
Legal liability$30,000,000$30,000,000$30,000,000

Optional add-ons are benefits you can pay extra for. They include:

Optional benefitsBuildingContentsBuilding and contents
Rent default$1,200 per week up to 15 weeks rent$1,200 per week up to 15 weeks rent$1,200 per week up to 15 weeks rent
Death, murder or suicide at the site$1,200 per week up to 15 weeks rent$1,200 per week up to 15 weeks rent$1,200 per week up to 15 weeks rent
Failure of a tenant to give vacant possession$1,200 per week up to 28 weeks rent$1,200 per week up to 28 weeks rent$1,200 per week up to 28 weeks rent
Release from lease obligation due to hardship$1,200 per week up to 6 weeks rent$1,200 per week up to 6 weeks rent$1,200 per week up to 6 weeks rent
Additional loss of rentHigher amounts in multiples of $25,000Higher amounts in multiples of $25,000Higher amounts in multiples of $25,000
Casually let holiday home

Elders landlord insurance – how the excess works

An excess is a sum of money you need to contribute when the insurer agrees to pay your claim. You must pay any excesses which apply to your claim. They should be outlined on your Policy Schedule. Some that you may encounter with Elders include:

  • Standard/basic excess. This is the excess you generally need to pay whenever you make a claim. It can be applied to your claim amount in most cases.
  • Earthquake or tsunami damage excess. You need to pay $250 or the excess amount shown in your Policy Schedule, whichever is greater, for claims related to earthquakes or tsunamis.
  • Theft, malicious damage, or purposeful damage by tenants excess. You need to pay an additional $400 excess on top of the standard excess for these claims.
  • Rent default. You need to pay an additional $400 excess on top of the standard excess for these rent default claims.

How to make an Elders landlord insurance claim

Follow these steps when submitting your Elders landlord insurance claim:

  1. Take all reasonable steps to prevent further loss, damage or liability.
  2. Notify the police immediately for lost, stolen, or maliciously or intentionally damaged items or property. If this is the case, you'll also need to provide a written statement.
  3. Tell Elders as soon as possible. You'll be given a property claim report.
  4. Supply Elders with all the information it requires, which will be laid out in the report.
  5. Let Elders know if there is insurance covering the same loss, damage or liability.
  6. Cooperate with Elders fully to make the process as smooth as possible.

Frequently asked questions

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