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Honan Insurance Group is an Australian owned and operated insurance broking company that was established in 1964. It is not an insurance company but rather an insurance broker acting on behalf of its clients. Read on to find out more about what landlord insurance policies it offers.
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Honan landlord insurance policy
Honan offers the following landlord insurance policies:
Landlord Residential Building and Contents Insurance
This covers your property for rental-specific losses, including damage to the building. It also covers you for the contents kept there such as any fixtures and furnishings. Outbuildings, walls, gates, fences and swimming pools are also generally included as part of the building. It comes with cover for theft and burglary by tenants and their guests, legal expenses, liability and more.
Landlord Residential Building Insurance
This is for those who don't want contents cover. It only covers you for the building, including outbuildings, walls, gates, fences and in-built swinging pools. You're insured for things like theft, fire and more.
Landlord Residential Contents Insurance
This is designed for landlords with units or apartments who don't want or need building cover, for example, if the building itself is looked after by strata. It covers you for any contents you own and keep at the property. It can cover accidental and deliberate damage by tenants and their guests, tenant theft, burglary, legal expenses and liability.
Honan's policy benefits
Here's an overview of what Honan's landlord insurance policies include.
|Benefits||Landlord Residential Building and Contents Insurance||Landlord Residential Building Insurance||Landlord Residential Contents Insurance|
|Authority fees||10% of the sum insured||10% of the sum insured|
|Fusion of electric motors||$2,500||$2,500||$2,500|
|Mortgage discharge legal fees||$5,000||$5,000|
|Professional fees||10% of the sum insured||10% of the sum insured|
|Removal of debris||10% of the sum insured||10% of the sum insured||10% of the sum insured|
|Riot and civil commotion||Sum insured||Sum insured||$65,000|
|Removal of fallen trees||$2,000||$2,000|
|Replacement of external locks||$1,000||$1,000|
|Damage by tenant's pet||$2,500||$2,500||$2,500|
|Scorching to bench tops||$1,000||$1,000||$1,000|
|Tax audit expenses||$2,000||$2,000||$2,000|
|Rent loss||Maximum of $1,500 per week - up to 52 weeks rent||Maximum of $1,500 per week - up to 52 weeks rent||Maximum of $1,500 per week - up to 52 weeks rent|
|Rent reduction||6 weeks||6 weeks||6 weeks|
|Rent default||20 weeks rent||20 weeks rent||20 weeks rent|
|Removal of debris and storage of tenant's contents following rent default claims||$6,000||$6,000||$6,000|
How does the excess work?
An excess is an amount that you generally need to contribute towards a claim whenever you make one. It's common with all types of insurance. Some of the excesses you may encounter include:
- Standard excess. This applies to all claims you make unless you are told otherwise. You often have the option of choosing an excess; the higher the excess you choose, the lower your premium.
- Additional excess. Additional excesses can apply based on individual applications and specific circumstances. They should be outlined to you when you buy a policy. They are usually in addition to the basic or standard excess.
Honan landlord insurance claim process
You can make a Honan landlord insurance claim online. To submit a claim, you'll need the following information:
- The date, time, cause and location of the event.
- Photos of the damage.
- Evidence from the authorities involved, for example, fire, police, health department, building inspector.
- Damaged items that can be safely inspected.
- Invoices, receipts.
Frequently asked questions
Who is the underwriter for Honan landlord insurance?
Honan landlord insurance is distributed by Honan Insurance Group Pty Ltd ("Honan") ABN 67 005 372 396, AFSL 246749 under an arrangement with Chubb Insurance Australia Limited, ABN 23 001 642 020, AFSL 239687.
What other types of insurance does Honan offer?
Honan provides a number of business insurance products including crime insurance, cyber insurance, director and officers liability insurance, and public liability insurance.
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