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.
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.
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.
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 |
|---|---|---|---|
| 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 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 |
| Workers' compensation |
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.
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
The main eligibility criteria for a Bendigo Bank landlord insurance policy includes:
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