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Holiday Rental Insurance
Terri Scheer Holiday Rental Insurance can help protect your property and your income from tenant-related risks, so you can host with confidence.
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Holiday Rental Insurance
5% first year online discount+
What is Holiday Rental Insurance?
Holiday Rental Insurance, also known as Short-term Rental Insurance or Holiday Home Insurance, is for professionally managed residential properties rented out on a short‑stay basis. These can include holiday homes or Airbnb-style accommodation. It can help protect investors against tenant‑related risks, including, damage to your building or contents and loss of rental income. Because short‑stay rentals often involve more frequent tenant turnover, this insurance is made to cover the unique risks that come with hosting multiple tenants over shorter periods.
Loss of rent
Covers you for loss of rent in connection with a holiday let property caused by the following insured events:
Untenantable (building)
Cover applies if your property becomes untenantable due to things like tenants damage, contents damage, or other insured events – helping replace loss of rent during that time for up to 52 weeks per incident, to a maximum of $50,000 per policy period.
Prevention of access
If tenants can’t access your property due to incidents like blocked roads, emergency services restrictions or nearby damage. Cover will commence 7 days from the date access is first prevented, until access is restored, up to 52 weeks.
Tenants overstaying without paying
If a tenant or their guest stays beyond their booking and doesn’t pay, this cover helps recover the loss of rent during that period, for up to 26 weeks per incident, but no more than $25,000 per policy period.
Contents
Covers you for loss of rent when your property becomes untenantable solely due to damage to your contents caused by an insured event:
Professionally managed
You’re automatically covered up to $70,000 per period of insurance combined with Building Cover. You can increase your cover up to $110,000.
Self-managed
Choose an amount of cover between $30,000 and $100,000.
Contents inside your holiday rental
Items like furniture, carpets and appliances are covered if damaged by insured events or tenant activity, up to your policy limits during the period of insurance.
Break-in, vandalism or theft
Loss or damage caused by break-in, vandalism or theft by unknown persons.
Damage from insured events
Covers events like fire, storm, flood or escape of liquid that cause damage to your property or contents up to your policy limits during the period of insurance.
Building
Covers your building for loss or damage caused by tenants, their family or their invited guests:
Damage caused by tenants or tenant’s guests
If tenants, their family or visitors damage your property or contents, repairs or replacement may be covered up to your policy limits during the period of insurance.
Pet damage
If a tenant’s pet causes damage and the policy conditions are met, repair costs may be covered, up to $5,000 per period of insurance when you have combined coverage.
Loss of rent
We do not cover:
Seasonal fluctuations in rental income
Loss of rent due to seasonal fluctuations in rental income.
Market conditions such as variation in demand
Loss of rent due to market conditions such as variation in demand.
Bond money or deposits collected from tenants
We do not cover loss of rent in relation to bond money or deposits collected from tenants.
Operating expenses of the property
Costs such as rates, gas, water or electricity are not covered under loss of rent.
Contents
We do not cover:
Wear, tear and gradual deterioration
Loss or damage caused by wear, tear and gradual deterioration.
Any intentional act committed by you, your family or any person acting with your express or implied consent
Loss or damage arising from intentional acts is not covered.
Building
We do not cover:
Amounts above your building sum insured or applicable policy limit
We will not pay more than the relevant sum insured or policy limit.
Repairing or rebuilding to a better standard, specification or quality
We do not pay extra to repair or rebuild your building to a better standard, specification or quality than it was before the loss or damage occurred.
Pre-existing damage, inherent defects, structural defects, structural faults or faulty/poor workmanship
We do not cover these items or the cost to fix them.
General policy exclusions
Other exclusions apply under the policy's "Things we don't cover" section, including unlawful or criminal acts, non-complying building components and other excluded circumstances.
Additional benefits
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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.
Legal liability cover 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.
Emergency Service damage up to $1,000
Damage caused as a result of Emergency Service Personnel entering the property.
The above is a summary only. Conditions, limits and exclusions apply. 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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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
Cover your property against unexpected events like fire, storm and flood, helping you insure your building from costly damage.
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Combined Coverage
Consider bundling your Landlord and Building Insurance with Terri Scheer to give your property broader protection.
Frequently Asked Questions
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What is Holiday and Short-term Rental Insurance?
Holiday and Short-term Rental Insurance is a specialised type of cover designed for properties rented out to guests for short stays. Terri Scheer’s Holiday Rental Insurance can cover landlords against tenant-related risks, including loss of rental income and loss or damage to your building or contents caused by guests.
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How much is Short-term Rental Insurance?
The cost of Short-term Rental Insurance varies depending on factors like your property, location and level of cover. With Terri Scheer, Holiday Rental Insurance can cost from as little as $1.50 per day^, depending on your policy and circumstances.
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Does Home Insurance cover short term rentals?
Standard Home or Contents Insurance may not cover short-term rentals, or may have exclusions when the property is rented to paying guests. Short-stay rentals introduce different risks, such as frequent guest turnover and higher exposure to damage, so a specialist policy is typically required.
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Do I need insurance for an Airbnb or short-term rental?
If you rent out your property on platforms like Airbnb or Stayz, having the right insurance is important. Standard Home Insurance may not cover short-stay tenants, so specialist Short-term Rental Insurance cover may help protect your property and income from tenant-related risks.
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What risks are associated with short term rental properties?
Short-term rental properties can face higher risks due to frequent tenant turnover, including damage, theft and liability issues. Insurance designed for holiday rentals, like Terri Scheer’s Holiday Rental Insurance, can help manage these risks and protect your investment.
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Does Holiday Rental Insurance cover loss of rental income?
Yes, Holiday Rental Insurance can cover loss of rental income if your property becomes untenantable or inaccessible due to an insured event. This can help protect your income if bookings are cancelled or disrupted unexpectedly.
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Making a claim is easy
We pride ourselves on our ability to service claims quickly for our customers. You can lodge a claim 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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Need to make a claim?
Claim online through our claims portal, over the phone, or via post or email.
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We’re committed to looking after your needs with sensitivity, dignity, respect and compassion.
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