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.

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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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 eventsLandlord property insuranceLandlord contents insurance
Flood
Storm
Lightning
Fire
Earthquake and tsunami
Theft or burglary
Accidental breakage of glass
Escape of liquid
Impact
Damage by an animal
Explosion
Riot, civil commotion or public disturbance
Malicious acts and vandalism

Some other benefits you get with a Vero landlord insurance policy include:

Additional featuresLandlord property insuranceLandlord contents insurance
Removal of debrisUp to 10% of the property sum insuredUp to 10% of the general contents sum insured
Other repair/rebuilding costs10% 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 improvementsUp to $2,500 of your net costs*Up to $2,500 of your net costs*
Legal liability$20,000,000$20,000,000
Motor burnout
Exploratory costs where leak is not covered under insured event 'Escape of liquid'$1,500 each incident
Lock replacement$500$500
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 coversLandlord property insuranceLandlord 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 lodgeclaim@vero.com.au 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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