RAA Landlord Insurance Review

RAA landlord insurance can also cover short stays but you can only get it if you have property in South Australia.

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Our Verdict

  1. Its membership benefits are pretty good. When you take out an RAA landlord insurance policy, you automatically become an RAA member and get access to benefits including Big W discounts and money off other insurance products.
  2. It's one of the few insurers that also offers short stay landlord insurance, ideal if you're looking to rent out a holiday home or Airbnb.
  3. It's not for everyone — only people with property in South Australia can get a policy.

Review by our insurance writer Gary Hunter

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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RAA landlord insurance policies

Here are the policies that you can get through RAA.

Landlord (Permanent) Rental

This type of policy is for traditional rentals. It comes with the option to cover:

  • The building only, i.e. the property itself and any outbuildings like a garage or shed.
  • Rental furnishings only, i.e. the contents at the property.
  • Combined building and rental furnishings.

This policy can cover you for several insured events such as storms, theft, fire, vandalism and more. A combined policy is helpful if you also have a furnished property, otherwise, building only cover may be more suitable. You may want to consider a rental furnishings only policy if your rental property is furnished and under strata control.

Short Stay (Holiday) Rental

RAA is one of a handful of insurers that provide short term rental insurance for landlords looking to rent out their holiday home or property. In order to be eligible for cover, your property must be used primarily as a rental property and you mustn't be at the property for more than 50% of the time available for occupation, unless RAA has agreed with you otherwise. Like Landlord (Permanent) Rental insurance, you can get cover for the building only, the contents only or a combination of the two.

Compare RAA's policy benefits

It can be hard to tell exactly which policy is the best for you. The table below outlines exactly what RAA's policies cover.

Insured eventLandlord (Permanent) RentalShort Stay (Holiday) Rental
Theft10% of sum insured10% of sum insured
Earthquake or tsunami
Storm and rainwater runoff
Escape of liquid
Malicious damage10% of sum insured10% of sum insured
Riot or civil commotion
Damage by animal$3,000$3,000
Accidental damage10% of sum insured10% of sum insured

More RAA benefits are listed below.

More benefitsLandlord (Permanent) RentalShort Stay (Holiday) Rental
Accidental glass breakage
Legal costNo limit but pre-approval requiredNo limit but pre-approval required
Motor burnout
Legal costs
Removal of debris and rebuilding costs10% sum insured10% sum insured
Replacement of locks$1,000$1,000
Loss of rent (prevention of access)20 weeks' loss of rent20 weeks' loss of rent
Loss of rent (tenant default)20 weeks' loss of rent
Loss of rent (tenant hardship)6 weeks' loss of rent
Replacement of locks and keys (tenant default)$500
Tribunal fees and representation costs$500
Un-tenantable rental property benefitMaximum 52 weeks' loss of rentMaximum 52 weeks' loss of rent

RAA's excess: What is it and when do I pay it?

An excess is a contribution that you're required to make when you make a claim. All insurers generally have one or more. Here are some that may apply to you with RAA.

  • Basic Excess. The Basic Excess will be the same for all claims and is generally always a requirement.
  • Tenant Damange Excess. There is generally a Tenant Damage Excess for claims relating to loss or damage and this replaces the Basic Excess.
  • Tenant Theft/Burglary Excess. There is usually a specific excess for claims relating to burglary, theft or attempted theft, which will replace the Basic Excess.
  • Tenant Default Excess. There is usually a specific excess that applies to claims relating to tenant default, tenant death and loss of rent due to tenant hardship. It replaces the Basic Excess.
  • Additional excesses. Other additional excesses can include an Earthquake or Tsunami Excess, and a Non-Removable Excess based on your claims history and the information you provide.

How to make an RAA insurance claim

To make an RAA landlord insurance claim you can call RAA on 8202 4575. To lodge your claim, you'll need:

  1. Your name, address and contact details, including those of anyone else involved.
  2. A police report number if your claim involves theft or burglary.
  3. Precise details of what happened and, if possible, photos, receipts and evidence of the damaged item itself if it's safe to hold onto it.

RAA can talk you through any other steps when you call.

Frequently asked questions

Who is RAA Insurance underwritten by?

RAA Insurance products are issued by RAA Insurance Limited.

Do RAA landlord insurance policies cover malicious damage by tenants?

Yes. RAA landlord insurance policies should cover you for malicious damage by tenants or tenant guests.

How do I take out an RAA landlord insurance policy?

You can call 8202 4567 to get an RAA landlord insurance quote. This will put you in touch with an RAA representative who can help you purchase your policy.

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