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Landlord & Building Insurance
Bundled coverage can give you the best of both worlds, helping cover your investment from a wide range of insured events.
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Landlord & Building Insurance Banner
5% first year online discount+
The benefits of bundled Landlord & Building Insurance
A bundled Landlord and Building Insurance policy from Terri Scheer brings together cover for both tenant-related risks and damage to the building. This can help cover your rental income and investment property. Plus, by having both policies with the same insurer, you get the convenience of managing all of your policies with us in one place.
You can also bundle a Holiday Rental Insurance policy with a Building Insurance policy, just know that there are some policy limits and exclusions – which you can read about in the Product Disclosure Statement (PDS).
Loss of rent
Covers you from loss of rent due to tenant related risks.
The following are for permanent residencies, not holiday rentals:
If a tenant leaves unexpectedly
If your tenant moves out without notice or leaves rent unpaid, this cover can help replace the lost rental income for up to 20 weeks.
Due to non-payment or eviction
If a tenant stops paying rent and needs to be evicted, you can be covered for the rental income you lose during that time for up to 20 weeks.
Due to tenant death or hardship
Provides support if a tenancy ends early due to a tenant passing away for up to 15 weeks or being released from their lease on hardship grounds for up to 4 weeks.
Reduced rent due to partial damage
If your tenant stays but pays less rent because part of the property can’t be used, this cover helps make up the difference for up to 52 weeks.
If your property can’t be lived in
If your property becomes untenantable due to tenant damage to the building, you can be covered for loss of rent for up to 52 weeks.
Note: This can be for both permanent residencies and holiday rentals.
Contents
Covers your contents for loss or damage due to certain events:
Professionally managed
You’re automatically covered up to $70,000 per period of insurance, combined with Building Cover (tenant damage). You can increase your cover up to $110,000.
Self-managed
Choose an amount of cover between $30,000 to $100,000.
Damage to contents from insured events
Covers items such as furniture, carpets, and appliances if they’re damaged or lost due to events like fire, theft, storms or tenant damage, up to your policy limits during the period of insurance.
If a tenant damages the property’s contents
Includes cover for damage caused by tenants, their family members and guests. This is up to your policy limits, during your insurance period.
Building
Covers your building for loss or damage due to specific events and scenarios:
Damage from insured events
You’re covered loss or damage to your building caused by a range of insured events, listed in the Product Disclosure Statement (PDS), such as fire, storm and flood.
Please note we do not insure you for bushfire, storm, flood or tsunami in the first 72 hours of your policy. Very limited exceptions apply.
Please note we do not insure you for bushfire, storm, flood or tsunami in the first 72 hours of your policy. Very limited exceptions apply.
Pet damage
Helps cover damage caused by a tenant’s pet, subject to certain limits and requirements. This is up to $5,000 per period of insurance.
Accidental glass breakage
If fixed glass or certain fixtures are accidentally broken, the repair or replacement may be covered.
Damage caused by unknown persons
Protection for damage caused by break-ins, vandalism or theft by unknown people.
Repair and rebuilding costs
We cover the reasonable cost to repair or rebuild your property after an insured event, up to your sum insured.
Loss of rent
Certain events will not be covered by this policy. Some examples are:
Vacancy due to market conditions
If your property is vacant because of rental demand or market conditions, any lost rent during that period isn't covered.
Costs not covered by the policy
Expenses such as tenant alternative accommodation costs, or other costs not specifically covered under the policy, aren't covered.
Contents
There are specific items which aren’t covered by this policy. Some examples are:
Certain personal items and valuables
Items such as jewellery, cash, computers, tablets, cameras and vehicles aren't covered under contents cover.
Wear, tear and gradual deterioration
Normal ageing, wear and gradual deterioration from regular use aren't covered. For example, floorboards wearing down over time wouldn't be covered.
Poor housekeeping and tenant neglect
Damage caused by poor housekeeping or tenant neglect isn't covered. For example, overgrown gardens, scuff marks on walls or damage from repeated splashing of water wouldn't be covered.
Lack of maintenance
Damage caused by poor maintenance, property deterioration or existing issues, such as blocked gutters or other maintenance-related problems, isn't covered.
Deliberate or unlawful acts by the owner
Loss or damage caused deliberately by you, or arising from unlawful acts by the policyholder, isn't covered.
Defects or construction issues
Loss or damage caused by faulty design, poor workmanship, structural faults or existing defects isn't covered.
Illegal or criminal activities
Loss or damage arising from illegal or criminal activities isn't covered.
Building
Sometimes, cover is not provided due to particular circumstances. Some examples are:
Events within the first 72 hours
When a new policy starts, there is a short waiting period. Damage caused by bushfire, flood, storm or tsunami during the first 72 hours may not be covered, unless limited exceptions apply.
Wear, tear, and gradual deterioration
Normal ageing, wear and gradual deterioration from regular use aren't covered. For example, floorboards wearing down over time wouldn't be covered.
Lack of maintenance
Damage caused by poor maintenance, property deterioration or existing issues, such as blocked gutters, roof leaks or structural wear, isn't covered.
Deliberate or unlawful acts by the owner
Loss or damage caused deliberately by you, or arising from unlawful acts by the policyholder, isn't covered.
Defects or construction issues
Loss or damage caused by faulty design, poor workmanship, structural faults or existing defects isn't covered.
Illegal or criminal activities
Loss or damage arising from illegal or criminal activities isn't covered.
Additional benefits
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Legal liability (Up to $20 million)
Our policy covers your legal liability as the landlord for an occurrence which causes death or bodily injury to other people, or damage to other people's property, up to the limit of $20,000,000.
Bailiff/Sheriff fees up to $300 per claim
If you incur costs as a result of engaging a bailiff/sheriff for the purpose of evicting your tenant. This is available to permanent tenancy customers, not short-term rental customers.
Removal and storage of goods up to $5,000
Where a claim is covered, we will pay up to $5,000 per tenancy or costs you incur (over and above bond monies), to remove and store a tenant's possessions from the property following the tenant having vacated and leaving their possessions. This benefit only applies if both removal and storage of these possessions is required by the Act.
Legal expenses up to $5,000
If a loss of rent claim is covered, we will also pay for legal expenses up to $5,000 per claim, provided they have been incurred with our prior approval, and are for the purpose of reducing your loss of rent claim or filing a legal defence while the claim is being investigated.
Replacement of locks up to $250
Payable when you need to replace the locks at the property following the eviction of the tenant by court order provided the bond has already been fully exhausted.
Emergency Service damage up to $1,000
Damage caused as a result of Emergency Service Personnel entering the property.
Representation costs up to $500
If your property is managed and you incur costs as a result of your Property Manager representing you in court or a tribunal to obtain a court order against the tenant, or your Property Manager engages a bailiff/sheriff for the purpose of evicting your tenant.
Re-letting expenses in excess of the bond up to $500
Payable where a claim is covered for loss of rent under a permanent tenancy, we will also pay up to $500 during any one period of insurance for re-letting expenses that exceed the tenant's bond money.
The above is a summary only. Conditions, limits and exclusions apply. For full details, read the relevant Product Disclosure Statement. The Target Market Determination is also available.
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POLICY DOCUMENTS
Product Disclosure Statement
Product Disclosure Statement
Looking for another type of insurance?
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Holiday Rental Insurance
Insure your holiday home or short-term rental property for things like tenant damage and loss of rent, and rest assured when hosting guests.
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Landlord Insurance
This can cover your rental income and investment property for tenant-related risks, including loss of rent and tenant damage to your property and contents.
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Building Insurance
If you’re seeking coverage against insured events that affect the building only, then our Building Insurance policy might be what you’re after.
Calculate your building insurance costs
This calculator can help you estimate the cost to rebuild your investment property, and choose your sum insured.
Frequently Asked Questions
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View all FAQs
Is Combined Cover two policies or a single policy?
Combined Cover isn't a separate third type of insurance. It's two bundled Landlord Insurance and Building Insurance covers, providing protection for both tenant-related risks and insured building damage. Each policy is considered individual. We offer this bundle to enhance convenience for our customers.
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Does Landlord Insurance cover the building?
Landlord Insurance may include some building cover for tenant-related damage, but it may not cover all types of structural damage or events.
For broader protection against events like fire or storm damage, a separate Building Insurance policy is usually required. You can bundle the two into with Terri Scheer Combined Coverage.
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What is property insurance?
Property insurance is a broad term that can refer to different types of cover protecting a property, including Building Insurance, Landlord Insurance, or Combined Coverage. The level of protection depends on the type of policy, but it generally covers damage to the property, income loss and liability risks.
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Does Strata cover Building Insurance?
In many Strata properties, the body corporate or owners corporation may arrange Building Insurance for shared structures and common areas. However, individual landlords may still need additional cover for tenant risks and contents depending on their situation.
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What is the best Landlord Insurance?
The best Landlord Insurance depends on your property, location and level of risk. A strong policy will typically offer cover for tenant damage, loss of rental income and a wide range of insured events, helping protect both your property and income. While we can’t say that Terri Scheer’s policies are the best, a few of our customers can. Feel free to read our customer reviews and see for yourself.
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What’s the difference between Landlord Insurance and standard Home & Contents Insurance?
Home and Contents Insurance is designed for owner-occupied homes and typically covers the building and personal belongings. It does not cover many risks associated with renting out a property.
Landlord Insurance is designed for rental properties and can cover tenant-related risks such as loss of rent, tenant damage and legal liability. It helps protect both your investment property and the income it generates.
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Making a claim is easy
You can lodge a claim anytime online, over the phone, or by email or post. Once you do, we will provide you with a claim number and keep you updated on the progress of your claim.
What our customers think about us
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BLOG & ARTICLES
Learn more with Terri Scheer
Explore the Terri Scheer blog for helpful guides and articles on being a landlord, managing a short-term holiday rental, like an Airbnb, and ways to successfully manage and maintain your property.
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Claim online through our claims portal, over the phone, or via post or email.
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