Kogan Landlord Insurance

Landlords can find a full range of protection with Kogan Insurance, covering their investment property, their belongings in that rental property, and against tenant default and other situations.

What cover options do I have?

With Kogan's landlord insurance products, you are able to purchase home insurance, contents cover and additional benefits.

• Landlord home insurance: This is cover for property that you own, and is provided specifically for the use of paying tenants. It must be listed in the property inspection report which forms part of the lease.
• Landlord contents insurance: This is specifically limited to furnishings and household goods, such as certain appliances, carpets, carpet tiles and rugs, internal blinds, curtains and free-standing pools or spas that can be removed from the site.
• Landlord insurance: A range of additional protection against tenant default, and more.

With Kogan landlord insurance, you can claim for damage to your rental property following an insured event.

What additional benefits are there?

With landlord insurance, you are also covered for:

• Malicious damage or theft by tenants. Up to $25,000 or 20% of either the building or contents sum insured, as relevant, for malicious damage or theft caused by tenants.

• Debris removal. Up to $10,000 for necessary debris removal or demolitions following an insured event.
• Loss of rent following damage. Up to the lesser of either 12 months of rent, 10% of your building sum insured or the actual amount of rent you lose, if tenants can no longer safely reside in the property following an insured event.
• Open air contents. Up to $500 for property kept outside, such as barbecues and garden furniture.

What other cover can I take out?

You can also add the following cover types at the cost of higher premiums.

• Electrical motor burnout. Up to $1,000 for the burning out or fusion of the actual wiring of domestic motors.
• Rent default and legal expenses. If your tenant leaves your building before the end of the agreed rental period, is legally evicted, is denied access to your building by a higher authority or otherwise does not pay their rent owed, you are covered for up to the lesser of either 10 weeks' rent, or $20,000, as well as up to $1,000 per claim for legal costs related to recovering the rent you are owed. Conditions apply. For example, you cannot claim if the tenant’s rent is in arrears at the time you take out this policy.

What exclusions should I be aware of?

Specific exclusions may apply to individual cover types, while a range of general exclusions apply across your policy.

Some of the key general exclusions are:

• Actions of the sea: You are not covered for any actions of the sea other than tsunamis, including high tides. For example, you might not be covered for flooding if it occurs as a result of a king tide.
• Bushfire, storm, rainwater or flood within 72 hours of taking out cover: You cannot take out an insurance policy to cover an event that you know is coming within the next 72 hours. This does not apply to renewing policies, or switching cover if you previously had this type of cover.
• Gradual deterioration: You are not covered for rust, wear and tear, mould, mildew or rising damp.
• Unoccupied for longer than 90 consecutive days: If your property is unoccupied for longer than 90 consecutive days, it is no longer covered for anything except lightning and earthquake damage.
• Inherent defects or maintenance failures: You are not covered for inherent defects, such as shoddy construction, or damage resulting from your failure to keep the property in good repair.
• Any earth movement except as otherwise covered: You are not covered for any earth movements, such as landslides, mudslides, erosion, subsidence or collapse, unless it’s the result of an earthquake, flood or rainwater, and occurs within 72 hours of it.
• Tree roots: You are not covered for any damage or loss resulting from tree roots, including legal liability from a guest tripping over them.
• Cleaning with heat or chemicals: With the exception of regular household chemicals, you are not covered for any damage caused by cleaning with the application of heat or chemicals.
• Power surges, mechanical or electrical failure, or data corruption: You are not covered for loss or corruption of electronic data and are not covered for power surges, or mechanical or electrical failure except as otherwise states (such as with the electric motor burnout optional extra, or power surges caused by lightning strikes).
• Building work, including extensions and renovations: You are not covered for damage or loss resulting from construction or renovations, such as impacts from construction vehicles. Buildings under construction cannot be insured under this policy either. However, renovations and extensions to existing buildings can be covered as part of this landlord home insurance.
• Activities or events that legally require you to hold insurance: You are not covered for events or activities on the premises that legally require you or your family to hold insurance.

You are also required to meet other obligations. As a landlord, you or your agent must complete a detailed property inspection/condition report:

• When a new lease or rental agreement commences
• When an existing tenant vacates the property, or
• On an annual basis, in the case of long-term tenancies

How much does Kogan landlord insurance cost?

The cost of your policy comes in two parts:

• The premium: This is the regular, ongoing cost of maintaining your cover.
• The excess: This is a contribution you may need to make towards certain types of claims before Kogan will cover it.

Your premiums are determined by factors including:

• The cover you choose
• The property and site you want to insure
• The limits and the excess that will apply
• Your previous insurance and claims history

Your excess may vary depending on the situation and your cover, and will be shown on your policy document. Depending on the type of claim, you might have to pay different excesses, or no excess at all.

• Claims made for malicious damage or theft by tenants will be subject to the higher of either your fixed excess or $500 per event.
• The optional benefit for rent default and legal expenses is subject to a fixed excess of $400.

How do I make a claim?

Before making a claim you should:

• Secure your property and take reasonable steps to prevent further damage
• Report the incident to police if applicable
• Call the Kogan claims team on 1300 034 888 and report the incident

Do not admit any guilt, liability or fault, except to police, and do not offer to negotiate or settle with any other parties, or consent to any repairs without approval from Kogan, except for the purposes of minimising further damage.