RACV Landlord Insurance Review

RACV landlord insurance's standout feature is probably its exclusive savings — but it's only available to Victorian homeowners.

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Our Verdict

  1. It comes with lots of benefits many others don't offer, including lawful removal and disposal of tenants' possessions for up to $10,000 if a tenant leaves without notice and damage from drug distribution and storage.
  2. It's good for extra perks. When you take out a policy, you get access to discounts and savings as an RACV member
  3. It's not for everyone — only people with property in Victoria can get access to RACV.

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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What cover options does RACV have?

  • Building only. Protection for the bricks and mortar, Building only covers anything considered as part of the house, including pipes, cables, ducting, wires, switches, meters, fixed appliances, carports, patios, paved paths, driveways and other permanent fixtures (pools, spas, etc).
  • Contents only. Covering anything not part of the building, Contents only protects items on your property, including carpets, curtains, blinds, furniture, furnishings, non-permanent light fittings, removable domestic appliances, utensils, swimming pools and their accessories.
  • Building and Contents. Combined Building and Contents offers complete protection for your property and valuables, as well as legal liability for any incident on your property on involving your contents.

How does each cover type compare?

Fire and flood
Earthquake and tsunami
Explosion and impact
Storm, storm surge and rainwater run-off
Broken glass
Riots or civil commotion
Theft or attempted theft
Vandalism or malicious damage
Water and oil leaks
Building materials
Credit card theft
Demolishing and removing debris
Food spoilage
Fittings and fixtures
Funeral expenses
Furniture and furnishing
Keys and locks
Location cause of damage
Loss of rent during repairs
Meeting building regulations
Mortgage discharge costs
Cost of moving into a new home
Rebuilding fees
Temporary accommodation
Visitors’ belongings
Liability cover

What additional cover options are there?

  • Additional damage. Mishaps can happen. This option would protect your home and contents against accidental damage or loss.
  • Burnout of electric motors. This additional option covers the cost to repair or replace an electric motor that is part of either your home or contents.
  • Portable items cover. Cover your items wherever you are in Australia or New Zealand with portable items cover, whether you’re at home or out and about, your contents are covered.
  • Valuable items cover. Need extra protection for your more valuable items? This option provides up to $10,000 extra for an individual item.

What exclusions are there?

While all insurance policies will have specific exclusions, general exclusions can include loss, damage or injury due to:

  • Poor housekeeping, unhygienic living or neglect by tenants
  • Rust, mould, depreciation or wear and tear
  • Earth movements unrelated to earthquakes
  • Actions of the sea
  • Vermin, rodents, birds and insects
  • Tree felling and tree roots
  • Lawful seizure or illegal activities you are involved in
  • Mechanical, structural or electrical failure
  • Business interruption, consequential financial loss or other non-financial loss (inconvenience, distress, etc)
  • Intentional and deliberate actions by you or someone acting with your permission

What excess do I need to pay?

Excess is your share of any claim for damage, loss or injury covered by your policy. Each claim requires its own excess and you may have to pay more than one excess. For example, if a fire damaged your house you would need to claim for the damage and pay an excess. If the house was unusable, you could claim for loss of rent, which would require an additional excess.

How do I make a claim?

If an incident involves loss, damage, injury or death, immediately contact any relevant emergency services and take all reasonable measures to prevent any further incidents. Retain any relevant reports and documentation and contact RACV on 13 19 03 for Home Assistance or you can go to mymembership.racv.com.au to lodge your claim online.

You can access any benefits provided by your policy as well as over-the-phone emergency support by calling RACV Aussie Assist on 13 72 28.

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