Woolworths Landlord Insurance Review

With Woolworths Landlord Insurance, you can get a discount off your monthly shop and have your policy backed by one of Australia’s biggest insurers: Hollard.

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Our Verdict

  • Woolworths landlord insurance is issued by The Hollard Insurance Company Pty Ltd, making them a good choice if you want a very popular insurer and underwriter. Hollard also issue policies for SGUA and Kogan.
  • It's good if you shop at Woolies — you get access to a 10% discount off your monthly shop if you're an Everyday Rewards member. T&C's apply.
  • Its 15% online discount is similar to other competitors including Budget Direct, Domain and Australian Seniors.

Review by our insurance writer Gary Hunter

warningSome landlord insurance policies have temporarily removed benefits such as rent default and a few others because of the pandemic. Make sure to check this with the insurer before deciding on a policy.
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1 - 3 of 3
Name Product Tenant Default and Damage Loss of Rent Accidental Damage Sum Insured Safeguard Cooling-off Period Cheapest way to pay
Woolworths Landlord Building and Contents Insurance
The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent
14 days
Annually
Woolworths Landlord Building Insurance
The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent
14 days
Annually
Woolworths Landlord Contents Insurance
No
14 days
Annually
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What does Woolworths landlord insurance cover?

Woolworths let you choose from 3 policies: building insurance, contents insurance, or combined building and contents insurance.

Here's some of the main insured events a Woolworths landlord insurance policy can cover you for:

Woolworths Landlord Insurance (AR No. 245476) is issued by The Hollard Insurance Company Pty Ltd. and it offers a few different levels of excesses (an amount you pay when you make a claim). It has a 14-day cooling off period which is slightly lower than industry standards.

Woolworths landlord insurance features

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Standard features

Here are some of the features that a Woolworths Landlord Insurance may cover you for if an insured event like a fire, storm or theft occurs.
  • Cover for malicious acts and theft by tenants
  • Removal of debris and trees
  • Loss of rent following damage
  • Outdoor contents at your home
  • Cover for strata title property

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Optional add-ons

Woolworths doesn't offer a large amount of optional benefits as part of its landlord cover. It comes with these options:
  • Motor Burnout
  • Rent default and legal expenses

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Exclusions

Woolworths's general exclusions are similar to other insurers. Here's some of the main events you won't be covered for:
  • Bushfires, storm, rainwater or flood damage that happens within 72 hours of buying your policy
  • Damage to a home that has been unoccupied for more than 60 consecutive days
  • General wear and tear
  • Damage from vermin, insects, birds and wildlife
  • Earth movements like erosion, landslides and mudslides
  • Mould
  • Deliberate damage by you or other people invited to your home
  • Tree roots

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

Woolworths landlord 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 Woolworths (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 Woolworths:

Here are some things we noticed about Woolworths and Hollard:

  • Hollard has been able to resolve a high percentage of its complaints directly with customers, without having to escalate them to AFCA which suggests its customer service is good.
  • Hollard has one of the highest number of complaints compared to other similar-sized firms (and even larger).

Bottom line about Woolworths landlord insurance

Woolworths is a good insurer if you're on the lookout for a popular insurer and you want money off your Woolies shop. However, its underwriter Hollard doesn't have the best complaints record.

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

FAQs about Woolworths landlord insurance

Woolworths landlord insurance reviews

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

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