Real Landlords Insurance Review

Our Verdict

• With Real Landlords Insurance, save 5% when you buy a combined Building & Contents policy.
• It's won several awards for its quality service and value so is good for those who want a competitively priced policy.

• Its policies come with cover for up to 20 million in legal liability which is more than enough for most, though similar to most other insurers.

_{Review by our insurance and innovations editor Gary Ross Hunter}

What does Real landlords insurance cover?

Real landlords insurance can cover the property owner's building, contents or both. Here's some of the main insured events it can cover you for:

Real policies are issued by Hollard – one of Australia's biggest insurers. It has a 14-day cooling off period which is slightly lower than industry standards and like all insurers, you'll need to pay an excess when you make a claim.

Real landlords insurance features

Standard features

Here are some of the main features that Real will cover you for if you make a claim for an insured event such as a fire or storm.

• Loss of rent
• Malicious acts and theft by tenants
• Removal of debris and rebuild costs
• Damage due to impact
• Damage caused by sudden escape of liquid e.g. burst pipes
• Contents outside of the house but on your property e.g. outdoor furniture and BBQs

Optional add-ons

Real doesn't offer many add-ons compared to some other insurers. You can pay extra for the following:

• Rent default and legal expenses (may not be available to new customers)
• Electric motor burnout

Exclusions

Real's general exclusions are similar to many other insurers. You won't be covered for:

• Bushfires, storm, rainwater or flood damage that happens within 72 hours of taking out a policy
• A home that has been unoccupied for more than 60 days
• Gradual deterioration
• Damage from vermin, insects, birds and wildlife

• Earth movements like erosion, landslides and mudslides
• Actions of the sea
• Deliberate damage by you or other people invited to your home
• Tree roots, tree felling or tree lopping

For a full list of exclusions, make sure you read Real's PDS.

Real landlords 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 Real (which is underwritten by Hollard) did. It includes other brands underwritten by Hollard so keep in mind that the total number of complaints is not necessarily all for Real:

Here are some things we noticed about Real and their underwriter:

• Hollard resolved a high percentage of its complaints directly with its customers without having to escalate them to AFCA.

• Hollard has one of the highest number of complaints compared to other similar-sized companies.

Bottom line about Real landlords insurance

Real is good if you want an award winning insurer that's underwritten by one of Australia's biggest providers. However, be aware that it had a lot of complaints for the period we looked at.

If you're not yet ready to buy, you can compare other landlord insurance policies side-by-side here.

FAQs about Real landlords insurance

• Who is eligible for a Real landlords insurance policy?

  A Real landlords insurance policy is suitable for landlords who have a rental agreement that lasts more than three months. It should be kept in good repair and be reasonably protected from loss or damage as well as comply with all relevant local government requirements. Its main use should be for domestic purposes. It should not be:

  • Used for holiday letting, temporary sharing or house-sitting arrangements
  • Under construction or major repair
  • Unoccupied for more than 60 consecutive days

• How do I make a claim with Real landlords insurance?

  Once you have dealt with an event that has caused loss or damage to your contents or property, contacted the necessary services and collected all relevant documentation, you can lodge your claim with Real Insurance over the phone on 13 19 48.

  Alternatively, you can email customercare@realinsurance.com.au

  You can then also access any benefits your policy has.

• Does it have legal liability?

  Yes. All policies have a limit of $20 million from any legal claims and costs, extending to your building if you're required to pay compensation for death or injury on your property, as well as landlord contents that cause death or injury.

• What excess would I need to pay?

  For each claim you make you may be required to pay an excess (unless otherwise outlined in your policy). For example, if a fire has damaged your house, you would need to claim for the damage and pay an excess. If as a result the house became unlivable, you could claim for loss of rent, which would require an additional excess.

Real landlords insurance reviews

If you've held or currently hold a Real landlords insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Real is right for them. Some reviews are from a survey commissioned by Finder.