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.
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.
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.
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.
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.
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 | |||
| Specified personal effects | |||
| 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% |
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.
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:
Before you submit your claim, follow these steps.
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