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Bendigo Bank Landlord Insurance Review

Bendigo Bank landlord insurance: review options from one of Australia’s biggest retail banks.

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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.

Bendigo Bank Landlord Insurance policy

Here are the landlord insurance policies Bendigo Bank offers:

Building Cover

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.

Contents Cover

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 eventBuilding and contentsBuilding coverContents cover
Accidental damage
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
Pet damage$2,500$2,500$2,500

More benefits you can get with a Bendigo Bank landlord insurance policy include the following:

More benefitsBuilding and contentsBuilding coverContents cover
Debris removal and demolishing10% of sum insured10% of sum insured10% of sum insured
Mortgagee discharge costs
Rebuilding fees10% of building sum insured10% 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-onsBuilding and contentsBuilding coverContents cover
Liability coverSum insuredSum insuredSum insured
Loss of rent12 months up to sum insured12 months up to sum insured12 months up to sum insured
Rent default and theft by a tenant$5,000$5,000$5,000
Strata title mortgagee protectionAvailable as a stand-alone policyAvailable as a stand-alone policyAvailable as a stand-alone policy
Workers' compensation

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
Photos
Your policy number
Any supporting documents like police reports, where relevant

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.

Frequently asked questions

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