Real

Real Landlord Insurance Review

A 15% online discount and awards are some of the reasons Real landlord insurance could be good for you.

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Our Verdict

  1. Real landlord insurance comes with a 15% online discount. That's as good as other top offers available from providers including Virgin and Budget Direct.
  2. It's won several awards for its quality service and value so is good for those who want a competitively priced policy.
  3. Its policies come with cover for up to 20 million in legal liability which is more than enough for most, though similar to most other insurers.

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 it have?

  • Building Insurance. Cover your home and anything attached, including pipes, cables, ducting, wires, switches, meters, fixed appliances, carports, patios, paved paths, driveways and other permanent fixtures (like pools and spas).
  • Contents Insurance. Cover all your contents, including carpets, curtains, blinds, furniture, furnishings, non-permanent light fittings, removable domestic appliances, utensils, swimming pools and their accessories.
  • Building and Contents Insurance. You can combine both policies for complete protection of your home and its contents.

How does each cover type compare?

HomeContentsExclusions
Fire
Scorching or melting, or burns that do not result in a fire.
Malicious damage and vandalism
Damage by you, someone on your behalf, a tenant or their guest (unless included as an optional extra).
Theft or attempted theft
Theft by you, someone on your behalf, a tenant or their guest (unless included as an optional extra).
Storm, rainwater and flood
Damage to plants and lawns, swimming pools and water entering your building due to alterations or additions.
Accidental breakage of glass, ceramic or sanitary fixtures
Greenhouses and conservatories, and any damage that doesn't extend through thickness of the glass (scratches, chips, etc).
Lightning
Explosion
Repairing or replacing the item that exploded.
Storm and rainwater
Loss or damage due to flood (unless included as an optional extra).
Earthquake, tsunami and volcanic eruption
Loss or damage after the first 72 hours of an event.
Riot, civil commotion or industrial unrest
Loss or damage after the first 72 hours of an event.
Impact
Damage or loss from tree lopping or damage to driveways from vehicles or equipment.
Sudden and unexpected escape of liquid
Repair or replacing item that caused escape, or any escape that was known and could have reasonably been prevented.
Accidental damage
Scratching, chipping, denting or damage from normal use.
Removal of debris and rebuild costs
Removal of debris that hasn't caused damage.
Malicious acts and theft by tenants
Damage resulting from poor housekeeping, as well as the cost of cleaning and redecoration, unless there has been physical damage.
Loss of rent following damage
Cover ends once your home is deemed livable, or to a period of 12 months, whichever happens first.
Contents in the open
Cash or financial documents, tablets and personal computers, phones and contents on display for sale.

What additional cover options are there?

  • Electrical motor burnout. If an electric motor burns out or fuses, this addition covers the cost of repairing or replacing the motor, up to a limit of $1,000.
  • Rent default and legal expenses. Should your tenant leave without notice, is legally removed or simply unable to pay rent due to other issues, this option will provide a cover benefit of up to 6 weeks' rent or $2,500, whichever is the lesser, as well as legal expenses to recoup lost rent to a maximum of $1,000.

Yes. All policies have a limit of $20 million from any legal claims and costs, extending to your building if you're required to pay compensation for death or injury on your property, as well as landlord contents that cause death or injury.

What excess would I need to pay?

For each claim you make you may be required to pay an excess (unless otherwise outlined in your policy). For example, if a fire has damaged your house, you would need to claim for the damage and pay an excess. If as a result the house became unlivable, you could claim for loss of rent, which would require an additional excess.

How do I make a claim?

Once you have dealt with an event that has caused loss or damage to your contents or property, contacted the necessary services and collected all relevant documentation, you can lodge your claim with Real Insurance over the phone on 13 19 48.

Alternatively, you can email customercare@realinsurance.com.au

You can then also access any benefits your policy has.

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