ING is a Dutch multinational banking and financial services corporation with headquarters in Amsterdam. It provides a wide range of insurance products including car, travel and home and contents insurance. With its home and contents cover, you can get landlord insurance.
ING Landlord Insurance policy options
You can buy an ING Landlord Insurance policy by adding cover to a home insurance policy. All you have to do is specify how the property is occupied during the application process. After that, you'll see that you can choose from; home only, home & contents and contents only.
Home only
If you have an unfurnished property, ING's home only landlord insurance policy might be the right option for you. This policy is designed to protect the physical structure of the building by insuring against certain events like fire, storms and malicious damage.
Home & contents
If you rent out a furnished property that comes with all the bells and whistles, then a combined policy is a good idea. This policy insures damage to the building, but also the things that you let your tenants use like TVs, fridges and washing machines.
Contents only
This type of policy could be useful for a landlord who owns a property that's part of a strata unit. Strata would usually take care of insuring the building, so you'd only have to worry about the contents, fittings and fixtures.
ING policy benefits
The table below provides an overview of what you'll be covered for with an ING landlord insurance policy.
Insured event
Home and contents
Home insurance
Contents insurance
Fire
Theft or attempted theft
Malicious damage, vandalism, riot or civil commotion
Breakage of glass, ceramic and sanitary fixtures
Storms and rainwater damage
Escape of liquid
Lightning
Explosion
Earthquake or tsunami
Impact at the home
Here are some more benefits you can get with ING landlord insurance.
More benefits
Home and contents
Home insurance
Contents insurance
Removal of debris and extra rebuilding costs
10% of sum insured
10% of home sum insured
10% of contents sum insured
Temporary accommodation costs
10% of sum insured
10% of home sum insured
10% of contents sum insured
Loss of rent
10% of home sum insured
10% of home sum insured
Landlord's contents
5% of home sum insured
5% of home sum insured
Mortgage discharge costs
$750
$750
Modifications to your home to support paraplegia or quadriplegia
$5,000
$5,000
Funeral expenses
$7,000
$7,000
$7,000
Replacement of locks and stolen keys
$1,000
$1,000
Food spoilage
$500
$500
Contents temporarily removed from the insured
20% of contents sum insured
20% of contents sum insured
Contents when you are moving
20% of contents sum insured
20% of contents sum insured
Cover for unattached equipment, spare parts or accessories
$500
$500
Uninsured contents belonging to guests and visitors
$500
$500
Legal liability
$20,000,000
$20,000,000
$20,000,000
Listed below are optional add-ons.
Optional add-ons
Home and contents
Home insurance
Contents insurance
Unspecified personal effects
$1,000
$1,000
Specified personal effects
$1,000
$1,000
Motor burnout
Commercial storage
Flood
Accidental damage
Tenant default (landlord options)
Theft and malicious damage by tenants and their visitors (landlord options)
Sum insured safeguard
25%
25%
ING landlord insurance excesses
An excess is a payment that you usually need to make whenever you submit an insurance claim. With ING, you'll need to pay an excess for every incident that results in loss or damage to your property and its contents. In some cases, depending on the claim, this can include paying an additional excess. These will be outlined on your certificate of insurance. ING will also let you know whether to pay the excess to a repairer, supplier, directly to ING or if it will deduct the excess from you.
Who is eligible for a ING landlord insurance policy?
To be eligible, you need to be at least 16 years of age and have an Australian mailing address (or have one in the next 30 days), reside or own property in Australia and be willing to undertake an ING name-screening assessment. Policies are generally not suitable for:
Homes in the Northern Territory or above the Tropic of Capricorn (excluding the Greater Rockhampton area)
Hotels and other multi-occupancy dwellings
Caravans, cars, trailers, mobile homes or shipping containers
Homes that have asbestos roofs
Homes that are under construction and not at lock-up stage
Anyone who has been convicted of arson or fraud or has had their previous insurance denied due to fraud
How to submit an ING landlord insurance claim
Before you submit your claim, follow these steps.
Get together the relevant facts. Some of the information worth knowing includes:
Policy number
Police report number (if applicable)
Damage reports
Repair or replacement quotes for damaged property
Incident details, such as time it happened and where it took place
Photos
Receipts and invoices (if possible)
Lodge your claim. This can be done online or by phone on 1800 611 422.
Get an answer. It usually takes around 10 business days for you to receive your outcome.
Frequently asked questions
ING has a solid reputation in Australia for its insurance products. They've won awards for value and customer service, so they're definitely worth checking out, at least as a starting point.
That would be IAG, one of Australia's most experienced insurance companies. They're the folks who handle claims and make sure everything runs smoothly.
It's super easy to submit a claim if you're an ING customer. You can either start your claim online or give them a call 24/7 on 1800 619 495. They'll guide you through the whole process.
Totally! It protects you financially if something goes wrong with your rental property, like damage from storms or accidents. It's a safety net for one of your biggest investments.
Gary Ross Hunter is 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).
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