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SGIO is an insurer based in Western Australia and is part of the Insurance Australia Group. SGIO stands for State Government Insurance Office and has been around since 1926. It is now privately owned and offers a number of insurance products, including SGIO landlord insurance.
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SGIO landlord insurance policy options
Here are the three types of landlord insurance offered by SGIO:
Buildings and contents insurance
This covers both your rental property and your contents, so it is ideal for standalone homes and townhouses that are furnished. It can cover you for tenant damage, fire, storms, theft and more. It can also cover the loss of rental income.
This provides landlords with cover for the contents they might have at their property. It's tailored to landlords who don't need buildings cover (probably because they own an apartment or unit) but have furnished properties. It can cover you for legal liability and insured events including storms, fires and floods.
If you own an unfurnished property, you might consider buildings cover. This protects the building itself as well as the garage, shed, in-built swimming pool and other parts of the property that are fixed to the ground. It can cover the costs of repairs and rebuilds that are the result of an insured event like a storm, theft, fire or vandalism.
|Insured event||Buildings and contents insurance||Contents insurance||Buildings insurance|
|Burn out of electric motors|
|Water and oil leaks|
|Accidental glass breakage|
|Riots or civil commotion|
These are some of the benefits you can get with an SGIO policy.
|More benefits||Buildings and contents insurance||Contents insurance||Buildings insurance|
|Furniture and furnishings — non-strata scheme||10% of buildings sum insured||10% of buildings sum insured|
|Loss of rent during repairs||12 months||12 months|
|Keys and locks||$800||$800|
|Demolishing and removing debris|
|Locating the cause of damage||Reasonable cost||Reasonable cost|
|Rebuilding fees||Reasonable cost||Reasonable cost|
|Meeting building regulations|
|Mortgagee discharge costs||Administrative cost||Administrative cost|
- With SGIO, like most other insurers, you have to pay an excess when you make a claim (except for liability claims). There are four different types of excesses that you might need to pay when you make a claim through SGIO:
- Basic excess. This generally applies to all claims. The larger the basic excess you choose, the cheaper your premium tends to be.
- Earthquake excess. SGIO is among the many insurers who require an additional excess payment for claims related to earthquakes.
- Rent default excess. If you make a claim for rent default, you will generally have to pay an additional excess on top of the basic excess.
- Special excess. This is sometimes applied if you're considered high risk or due to your claims history.
How do I make a claim with SGIO landlord insurance?
Follow these steps to make an SGIO landlord insurance claim:
- You can claim online or by calling 133 233. Have your policy number handy.
- Provide details of what happened. You'll need to upload photos and documents immediately.
- When you lodge your claim, you will usually be asked to pay the excess to the repairer or supplier.
- You can track your claim progress on your account and add details and documents such as photos and receipts.
- SGIO will assess your claim and will let you know if more information is needed.
Frequently asked questions
Will SGIO cover accidental damage?
SGIO doesn't specifically mention cover for accidental damage in its PDS but it does cover broken glass, theft, vandalism, water and oil leaks, and more.
Who is the underwriter for SGIO landlord insurance?
SGIO insurance is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681.
Will SGIO cover my contents?
Yes. SGIO can cover you for the repairs or replacement of your belongings with a contents or combined buildings and contents policy.
Who is eligible for an SGIO landlord insurance policy?
The main eligibility criteria for an SGIO landlord insurance policy includes:
- The type of property 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.
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