We don't currently have this brand on our panel. But don't fret! You can head to the Coles website or compare a bunch of other landlord insurance companies with finder.
Coles landlord insurance is backed by Insurance Australia Limited (IAG) – one of the biggest insurance companies in Australia. It has an above-average cooling off period of 30 days (you'll be refunded if you don't make a claim within this time) and like all insurers, you'll need to pay at least one excess when you make a claim.
What do I get with a Coles landlord insurance policy?
Here are some of the main features that Coles will cover you for an insured event such as a fire, storm or theft occurs.
Accidental glass breakage
Bursting, leaking, discharge or overflowing
Animal damage
Removal of debris
Keys & lock replacement
Legal liability
Optional add-ons
Coles offers a few add-ons. However, some, such as loss of rent, are covered automatically by other landlord insurers.
Motor burnout. This covers any reasonable cost to repair or replace an electric motor. Cover limit is up to $3000 per incident if your buildings are insured.
Damage caused by tenants. This covers your home and/or contents if your tenant or their guests cause damage to them. You are protected against any kind of legal liability as a result of neglect or poor housekeeping by the tenant.
Tenant's rent default. You can get up to 10 weeks of rent or $5000 total, whichever is lesser, if your tenant leaves without notice, defaults on rent owed or is legally evicted from the property due to breach of lease.
Loss of rent. If your home is rendered uninhabitable, this option will cover a period of rent you would be paid. The period will extend to the end of a lease period or until the house if deemed habitable, whichever is shorter.
Exclusions
Here are some general exclusions for Coles landlord insurance policies:
Any natural event (bushfire, flood, storm, etc) within 48 hours of taking out a policy
Any earth movement not caused by an earthquake
Actions of the sea
Unlawful or deliberate acts by yourself or someone on your behalf
Construction, renovations or alterations
Non-compliance with government regulations
Errors in computing programming
Asbestos or derivatives
For a full list of exclusions, make sure you take a look at Coles's PDS.
Coles landlord insurance complaints
We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July to December 2020. The data breaks down different underwriters and compares their business size to the number of complaints processed.
When comparing insurers, keep in mind that insurers with a larger market share serve more customers so can potentially get more complaints.
Here's an overview of how Coles (which is underwritten by Insurance Australia Limited) did. It includes other brands underwritten by Insurance Australia Limited so keep in mind that the total number of complaints is not necessarily all for Coles:
Here are some things we noticed about Coles Home Insurance and Insurance Australia Limited.
Insurance Australia Limited has a higher percentage of claims that were resolved directly with its customers compared to other similar-sized providers.
Insurance Australia Limited had a higher percentage of complaints that had to be escalated through to the AFCA than other providers, meaning many of the complaints it received could not be resolved internally.
Bottom line about Coles landlord insurance
Coles is good if you want a well-known insurer, to pay monthly at no extra cost and a lifetime guarantee. However, loss of rent isn't covered automatically – you'll need to pay extra for it.
If you're not ready to take out a policy, you can compare other landlord insurers side-by-side on our homepage here.
FAQs about Coles landlord insurance
The main eligibility criteria for a Coles landlord insurance policy includes:
The type of home 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 1-month.
The condition of your home. The home needs to meet acceptable dwelling criteria. For example, it should be secure, watertight, structurally sound and well maintained.
If you need to make a claim on your Coles Home Insurance policy, contact the dedicated claims team as soon as possible – you can lodge a claim online 24/7. Provide full details of the incident and you will be given a claims number and advised of the next steps.
The excess is the amount you have to pay to contribute towards the cost of your claim. Increasing the excess you are willing to pay may reduce your premium. The excesses that apply to your individual policy will be shown on your schedule. There are 5 types of excesses with Coles: a standard excess, a nominated excess, a damage caused by tenants excess, a tenant's rent default excess, and a loss of rent excess.
Coles landlord insurance reviews
If you've held or currently hold a Coles landlord insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Coles is right for them. Some reviews are from a survey commissioned by Finder.
Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 725 Finder guides across topics including:
This supermarket gift card hack can earn you points while you buy a new phone.
Feedback
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.