Allianz Landlord Insurance
Compare 3 policy options with Allianz Landlord Insurance, and choose the right fit for your investment.
If you own an investment property, getting landlord insurance is a good move. An Allianz Landlord Insurance policy can offer you cover for the property, its contents, or both.
Check out our review to see what's covered, what's not and how to make a claim.
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What does Allianz Landlord Insurance cover?
- Your home. When a policy mentions your home or a building, this also includes pipes, cables, ducting, wires, switches and meters, fixed appliances, carports, patios, paved paths and driveways and other permanent fixtures (pools, spas, etc).
- Your contents. Referring to property owned by you as the landlord or for which you are responsible. This includes carpets, curtains and blinds, furniture and furnishings, non-permanent light fittings, removable domestic appliances and utensils, swimming pools and their accessories.
- Your home and contents. Allianz also offers combined landlords building and contents insurance. This protects the building itself which can include garages and any other permanent fixtures such as in-built swimming pools. You also get the belongings you keep at the property looked after. This includes furniture, white goods and more.
What benefits come with my cover?
Contents | Home | Home and Contents | |
---|---|---|---|
Accidental breakage of glass | |||
Earthquake | |||
Explosion | |||
Fire or smoke | |||
Impact damage | |||
Lightning | |||
Malicious acts | |||
Riot or civil commotion | |||
Storm, rainwater or run-off | |||
Theft, burglary or housebreaking | |||
Tsunami | |||
Water or other liquid damage | |||
Open air contents (outdoor furniture, etc) | |||
Automatic indexation of sums insured | |||
Continuation of cover when you are selling your home(s) | |||
Environmental benefits | |||
Fusion | |||
Landlord contents | |||
Legal liability (third party personal and property) | $10,000,000 | ||
Mortgage discharges | |||
Reinstatement of sum insured after a loss | |||
Removal of debris, professional rebuilding fees and extra costs to comply with building regulations | |||
Rental costs after an insured event | |||
Replacement of locks or cylinders | $500 |
Does Allianz Landlord Insurance offer additional cover?
- Flood cover. If your investment property is destroyed or damaged by flooding then you can claim on this benefit for your losses. This can cover damage to the building, and also to any belongings you might have in the property (e.g. couch, rugs, TVs, etc.)
- Rent default and theft by tenant. If your tenant fails to make payment, leaves without notice or has died, this option will cover the default rent either until another tenant takes up residence or payment of rent recommences.
- Strata title mortgage protection. If a strata title development that contains your lot has been destroyed and the common property has not been insured, this option would cover either the unpaid balance of your mortgage at the time of the incident or the amount for the damage or loss, whichever is the lesser.
- Landlord workers’ compensation. If you employ people to work on or around your rental property, this optional cover will protect you should you be liable to pay if they are injured while working for you. This option in not a comprehensive workplace cover and if you are operating your own business or employing full-time or part-time staff, a separate general workers’ compensation policy is necessary.
What exclusions are there?
There are certain situations or circumstances where you will not be eligible to make a claim. Specific requirements will depend on your policy and additional options, but generally you will not be covered for any wear and tear on property or contents that have seen their day. If you intentionally damage your property or house, or ask someone else to do it for you, your claim will be rejected. You won’t be able to claim against any dodgy workmanship or faulty designs and defects. Damage from the application of heat (for example, installing laminate) will also be thrown out. There are a few far-flung exclusions, such as war and terrorism, all of which will be listed in your policy document. If you have any questions, be sure to ask your broker.
What excess do I need to pay?
Your excess will depend on the type of claim you make, which will be outlined in your policy and can be discussed with your insurance broker. You may be required to pay multiple excesses, depending on the incident, for example a storm may inflict damage to your home and a resulting flood that damages your contents may both require a separate excess in your policy.
How do I make a claim with Allianz Landlord Insurance?
In the event of an accident or incident, there are a few things to do. First, prevent any further damage or injury if it is safe to do so. Do no admit any liability as fault will be adjudicated on once an investigation has been conducted.
Contact the police and keep all evidence and documents of the loss or damage and contact Allianz as soon as possible on 13 10 13.
Who is eligible for an Allianz landlord insurance policy?
An Allianz landlord insurance policy is suitable for someone that owns a residential building that they rent out to a tenant. It's suitable for those who want to protect themselves against:
- loss or damage to their building caused by certain unexpected insured events, like a fire or theft.
- loss of rent as a result of their building being uninhabitable or inaccessible because of an insured event.
- legal liability resulting from their ownership of the building.
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