A NAB landlord insurance building and content and building only comes with the following features included as standard:
Rebuilding and professional fees
Building code compliance costs
Loss of rent
If you want extra protection, you can pay extra to get the following added on to your NAB landlord insurance policy:
Rent default and theft by tenant
Landlord workers' compensation
NAB will not pay your claim for any of the following reasons:
Actions of the sea
Coal seam gas
Deliberate, intentional, malicious or criminal acts
Wear and tear
Make sure to read NAB's PDS for a more detailed breakdown of exclusions.
Bottom line about NAB landlord insurance
NAB landlord insurance values loyal customers with its 30% no claim bonus and it's one of the few insurers to give you money off if you take out combined cover. However, it's possible to get bigger discounts elsewhere.
Frequently asked questions about NAB landlord insurance
Before you claim, it's important that you contact the police if a theft or attempted theft has taken place. Then you can contact the Allianz claims centre (the underwriter) or make a claim online. It should only take you around 10 minutes and you'll be given a confirmation number straight away for your reference. The claims lodgement service is available 24/7. You'll need your policy number or address and details of what happened including photos, quotes and receipts
All insurers generally require you to pay an excess when you make a claim. This is a specified amount that you'll need to pay upfront towards the costs of a claim.
With NAB, you'll pay a basic excess as outlined by NAB and a voluntary excess which you can choose to help lower the cost of your premiums.
In some cases, NAB may impose an additional compulsory excess depending on your claims history and risk. This will be outlined on your policy schedule or PDS.
There is also generally an earthquake and tsunami excess. This is an additional excess of $250 you'll need to pay for any claims related to an earthquake or tsunami, during any period of 48 consecutive hours.
Yes. You can get contents cover (which covers furnished properties) or a combined building and contents cover policy.
A NAB landlord insurance policy is suitable for someone that owns a residential building that they rent out to a tenant. It's suitable for those who want to protect themselves against:
loss or damage to their building caused by certain unexpected insured events, like a fire or theft.
loss of rent as a result of their building being uninhabitable or inaccessible because of an insured event.
legal liability resulting from their ownership of the building.
A note on NAB landlord insurance reviews
If you've held or currently hold a NAB landlord insurance policy, we'd love to hear from you. Your reviews help other Australians decide if NAB is right for them. Some reviews are from a survey commissioned by Finder.
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, news.com.au, The Telegraph, Explore Travel and Escape. Gary holds a Kaplan Tier 1 General Insurance (General Advice) certification and a Kaplan Tier 1 Generic Knowledge certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
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