Vero Landlord Insurance
Vero landlord insurance review: cover for your property and $5,000 towards furnishings.
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Vero is a business insurance provider in Australia. It has over 180 years of experience in the industry and offers a number of business and personal insurance products, including Vero landlord insurance.
We don't currently have this brand on our panel. But don't fret! You can head to the Vero website or compare a bunch of other landlord insurance companies with Finder.
Vero landlord insurance policy
Vero landlord insurance offers the following policy:
Secure Landlord Insurance
This can cover your property (e.g. the building itself) and up to $5,000 for your furnishings inside it, like curtains, blinds and carpets. If an insured event like a fire, theft or accidental damage occurs, it can cover you for the costs of repairing or replacing parts of the property and belongings in it. It also comes with up to $20 million legal liability, in case someone tries to sue you, and lock replacement costs if your tenant leaves without notice or is legally evicted.
Here's an overview of Vero's policy
So you know what you're covered for with Vero's Secure Landlord Insurance policy, you can check out the list of benefits below.
|Insured events||Landlord property insurance||Landlord contents insurance|
|Earthquake and tsunami|
|Theft or burglary|
|Accidental breakage of glass|
|Escape of liquid|
|Damage by an animal|
|Riot, civil commotion or public disturbance|
|Malicious acts and vandalism|
Some other benefits you get with a Vero landlord insurance policy include:
|Additional features||Landlord property insurance||Landlord contents insurance|
|Removal of debris||Up to 10% of the property sum insured||Up to 10% of the general contents sum insured|
|Other repair/rebuilding costs||10% of property sum insured|
|Damage to gardens and plants||$300 per tree, shrub, plant, hedge or garden bed up to a maximum of $1,500 for any one event|
|Landlord contents on common property||$1,000 any one event|
|Storage of undamaged landlord contents||5% of general contents sum insured|
|Environmental improvements||Up to $2,500 of your net costs*||Up to $2,500 of your net costs*|
|Exploratory costs where leak is not covered under insured event 'Escape of liquid'||$1,500 each incident|
|Landlord furnishings||$5,000 in one event|
|Prevention of access|
|Physical injury or incident||$15,000||$15,000|
|Paintings, pictures, works of art, antiques, sculptures, ornaments and art objects||$10,000 for each item or set but not more than a total of $50,000 per claim|
|Carpets or rugs that are hand woven||$2,000 per carpet or rug per claim|
|Contents in the open air||Limited to 25% of the general contents sum insured per claim|
Vero lets you add on some more benefits to your policy at an additional cost, including:
|Optional covers||Landlord property insurance||Landlord contents insurance|
|Loss of rent - Insured event|
|Loss of rent - Tenant default|
|Strata title mortgage protection|
Vero landlord insurance excess explained
An excess is an amount that you usually need to pay whenever you make a claim. Sometimes there are more than one that you'll need to pay. This is common across all types of insurance. The following excesses generally apply when you make a claim on your Vero landlord insurance policy:
- Property and contents basic excess. This applies to all claims unless they let you know otherwise. You have the option of choosing a higher basic excess which will reduce your premium.
- Loss of rent – Insured event excess. This applies in addition to any other excesses you might need to pay and is applicable when you claim for optional cover loss of rent.
- Malicious damage and theft excess. This applies when you make a claim for a malicious act, theft or attempted theft claim caused by your tenant or someone who is at the property with you or your tenant's consent.
- Earthquake and tsunami excess. This applies in addition to other excesses and is applicable when you make a claim for loss or damage as a result of an earthquake or tsunami.
- Additional excess. Additional excesses may apply based on the level of risk you pose. This should be outlined to you when you buy a policy.
- Unoccupied excess. This applies in addition to other excesses if you claim for loss or damage and your property has been unoccupied for more than 60 consecutive days.
How to submit a Vero landlord insurance claim
Submitting a Vero landlord insurance claim is relatively easy. If you bought a policy through a broker, you can contact them by phone on 1300 888 073, email via email@example.com or by mail at IPC 2CI288, GPO Box 346, Sydney NSW. Alternatively, you can lodge a claim online.
To make a claim, you'll need the following:
- Policy number and policy holder name
- The date and time of the incident
- The location of the incident
- The cause and extent of the damage
- A description of items damaged, lost or stolen, if possible including:
- The manufacturer
- The model number
- The year of purchase
- The approximate price you paid
- Proof of ownership
Frequently asked questions
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