Virgin Money Landlord Insurance Review

A 15% online discount and value for money are some of the reasons worth considering Virgin Money landlord insurance.

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Our Verdict

  1. Virgin Money landlord insurance comes with a 15% online discount. That's as good as some of the top offers available from other landlord insurance providers like Budget Direct.
  2. It's good value for money. Virgin Money landlord insurance has won awards for the prices of its policies.
  3. Its policies come with cover for up to $20,000,000 in legal liability, similar to many 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.

Current offer for Virgin Landlord Insurance

Deal

15% off new Landlord policies

Get 15% discount when you purchase cover online.

Get landlord insurance quotes from Virgin Money

Name Product Fire, Storm & Theft Damage Tenant Default and Damage Loss of Rent Accidental Damage to Home or Belongings Flood
Virgin Home and Landlord Insurance

Optional

Optional
Optional
Purchase a new eligible Virgin Home and Contents Insurance policy online and you'll also save 15% on your first year’s premium. T&C’s Apply.
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What cover options does it have?

  • Building Only Insurance. Cover for your home or building, this includes pipes, cables, ducting, wires, switches, meters, fixed appliances, carports, patios, paved paths, driveways and other permanent fixtures (pools, spas, etc).
  • Contents Only Insurance. Covers contents owned by you as the landlord or that you're responsible for, including carpets, curtains, blinds, furniture, furnishings, non-permanent light fittings, removable domestic appliances, utensils, swimming pools and their accessories.
  • Combined Home and Contents Insurance. You can combine both policies for complete protection of your home and its contents.

How does each cover type compare?

BenefitsBuildingContentsExclusions
Fire and explosions
Scorches, burns or melting that did not result in a fire. Repairing or replacing an item that explodes.
Storm
Loss or damage from rain, hail or wind entering the house due to design, structure or faulty workmanship.
Accidental breakage
Limited cover for breakage of glass, this can be covered through an additional "Accidental damage" option (see below).
Earthquake
Tsunami or tidal wave following an earthquake.
Lightning
Power surges not caused by lightning strike.
Theft and burglary
Theft or attempted theft by a tenant or guest.
Malicious damageOptionalOptionalLoss or damage by you, someone on your behalf, a tenant or guest.
Impacts
Damage or loss from authorised tree felling or lopping.
Escape of liquid
Loss or damage caused by leaking shower floors.
Removal of debris
Removal of debris that hasn't caused any loss or damage.
Alternative accommodation
Up to 10% of sum insured - maximum of 12 months or until the address is livable, whichever happens first.
High value items and collections
Items insured away from home
Items outside of Australia.

What additional cover options are there?

  • Tenant default
  • Theft and malicious damage by tenants
  • Flood
  • Accidental damage (cover in addition to accidental breakage)

Yes. All policies have a limit of $20,000,000 from any legal claims and costs, which extends to your building if you're required to pay compensation for death or injury on your property and landlord contents that cause death or injury.

What excess do I need to pay?

If the worst should happen and you need to make a claim, you will often be required to pay an excess (unless otherwise outlined in your policy) for each claim you make. For example, if a fire damaged your house you would need to claim for the damage and pay an excess. Your excess amount for each claim will depend on your level of cover and the sum you're claiming.

How do I make a claim?

After an incident has been dealt with and information collected from any relevant emergency services or reports, contact Virgin Money as soon as possible to begin the claims process. You can lodge your claim online or over the phone, as well as access any benefits your policy grants you.

Phone: 1800 662 884

Online: www.virginmoney.com.au

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