Bendigo and Adelaide Bank is an Australian financial institution and was formed by the merger of Bendigo Bank and Adelaide Bank in late 2007. As well as banking, it provides a number of insurance products including home, car, travel, life and landlord insurance.
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Bendigo Bank Landlord Insurance policy
Here are the landlord insurance policies Bendigo Bank offers:
This covers the property itself, which can include in-built pools, spas, garages, sheds, fences and decks. It also protects infrastructure (e.g. supply of electricity, gas, water, Internet and phone), but not contents or belongings at the property.
Building & Contents
This policy covers both your building and the contents kept at the property. It's suited to landlords who want ultimate peace of mind knowing that the building and belongings are covered. You're insured for events including fire or explosion, theft, landslide or subsidence, impact by a vehicle, water damage, vandalism, storm, flood, rainwater or wind and more.
This cover is suited to landlords whose building is already insured by an owners' corporation or strata, so you only need insurance for the contents kept at the property. This can include carpets, blinds, non-in-built swimming pools and spas, curtains, furniture, white goods and more.
What you get with a Bendigo Bank policy
The table below shows you exactly what you'll be covered for with each individual policy.
|Insured event||Building and contents||Building cover||Contents cover|
|Electric motor burnout|
|Fire or explosion|
|Landslide or subsidence|
|Loss or damage by a tenant or their visitors|
|Storm, flood, rainwater or wind|
|Theft or attempted theft|
|Water or liquid damage|
More benefits you can get with a Bendigo Bank landlord insurance policy include the following:
|More benefits||Building and contents||Building cover||Contents cover|
|Debris removal and demolishing||10% of sum insured||10% of sum insured||10% of sum insured|
|Mortgagee discharge costs|
|Rebuilding fees||10% of building sum insured||10% of building sum insured|
|Sale of your rental property|
|Increased sum insured|
These are optional add ons. They're not automatically covered unless you want to pay more to get them included in your policy.
|Optional add-ons||Building and contents||Building cover||Contents cover|
|Liability cover||Sum insured||Sum insured||Sum insured|
|Loss of rent||12 months up to sum insured||12 months up to sum insured||12 months up to sum insured|
|Rent default and theft by a tenant||$5,000||$5,000||$5,000|
|Strata title mortgagee protection||Available as a stand-alone policy||Available as a stand-alone policy||Available as a stand-alone policy|
Bendigo Bank landlord insurance excesses
An excess is a payment you have to contribute towards the cost of a claim. Bendigo will let you know when and if you need to pay an excess when you make a claim.
The type of excess that applies to your policy and the amount that you need to pay will be listed on your policy schedule. In some circumstances, you might be required to pay more than one excess. If you make a claim for loss or damage that occurs as a result of an earthquake or tsunami, your excess will be increased by $250. Even if you make one claim for separate incidents, you'll most likely need to pay an excess for each incident.
How to submit a Bendigo Bank landlord insurance claim
You can lodge your Bendigo Bank landlord insurance claim by calling CGU on 132 480 or through the CGU Insurance claims page. To get your claim sorted as quickly as possible, have the following information handy:
Details of the incident
Explain what happened, including times, dates, witnesses, locations and other relevant information
Your policy number
Any supporting documents like police reports, where relevant
Frequently asked questions
What company underwrites Bendigo Bank Landlord Insurance?
Insurance Australia Limited Ltd ABN 11 000 016 722 trading as CGU Insurance is the underwriter.
Does Bendigo Bank cover rent default?
Yes, Bendigo Bank offers rent default cover. This means that if your tenant fails to pay their rent, you could be covered for losses.
Does Bendigo Bank also offer home insurance?
Yes. Bendigo Bank provides home insurance and a number of other insurance products for travel, life, business and more.
Who is eligible for a Bendigo Bank landlord insurance policy?
The main eligibility criteria for a Bendigo Bank landlord insurance policy includes:
- The type of property you own. It must be a free standing house, townhouse, villa or duplex, semi-detached house or terrace. It's not suitable for body corporate buildings and houseboats.
- How you use the property. It must be rented out to tenants or a short-term rental agreement of more than 3 months.
- The condition of your property. The home needs to meet acceptable dwelling criteria. For example, it should be secure, watertight, structurally sound and well maintained.
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