Holiday Rental Insurance

Covers you for tenant-related risks including loss of rental income, and loss or damage by tenants to your holiday rental building and contents.

Holiday Rental Insurance for $1.50 or less per day^{^}

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What's Covered

Loss of rental income

Protects you from loss of rental income as a result of scenarios such as those listed below.

Provides cover for:

Death of a tenant
Untenantable property
Prevention of access
Failure to Vacate

Protects those furnishings you forget, like curtains, carpets, blinds and light fittings. What contents are covered?

Provides cover for:

Tenant Damage
Flood
Storm or rainwater
Escape of liquid
Fire (including bushfire) or explosion
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Break-in vandalism or theft
Pet damage
Scorching
Impact
Earthquake or tsunami
Glass breakage
Lightning
Oil leakage from any heater
Electric motor burnout
Riot, civil commotion or public disturbance
We do not insure you for bushfire, storm, flood or tsunami in the first 72 hours of your policy. Very limited exceptions apply. Read the PDS for more detail.

Building

Protects your building against: loss or damage caused by tenants, their family or their invited guests. What does building include?

Provides cover for:

Tenant Damage
Pet damage
Scorching

Additional benefits

Legal expenses up to $5,000

Legal liability cover up to $20 million

Emergency Service damage up to $1,000

This content applies to new policies and renewal policies commenced or renewed on or after 29 March 2021.

For full details of our policies we recommend you read the relevant Product Disclosure Statement.
The Target Market Determination is also available.

Details of what's covered

I have a property manager
Scheer Short Stay Policy
I manage the property myself

If your property is managed by a property manager the Terri Scheer Short Stay Policy covers short stay tenancies and includes cover for:

Loss of Rental Income

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Insured Events

Sub-limit

Untenantable (Building)

52 weeks loss of rent per incident, but no more than $50,000 in any one period of insurance

Untenantable (murder/suicide)

52 weeks loss of rent per incident, but no more than $50,000 in any one period of insurance

Untenantable (death of tenant)

26 weeks loss of rent per incident, but no more than $25,000 in any one period of insurance

Untenantable (contents)

6 weeks loss of rent per incident, but no more than $6,000 in any one period of insurance

52 weeks loss of rent

26 weeks of rent per incident, but no more than $25,000 in any one period of insurance

12 weeks loss of rent per incident, but no more than $12,000 in any one period of insurance

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Insured Events

Sub-limit

Break-in vandalism or theft

Earthquake or tsunami

Electric motor burnout

Up to $2,000 per claim for motors less than 7 years old

Escape of liquid

Fire (including bushfire) or explosion

Flood

Glass breakage

Impact

Lightning

Oil leakage from any heater

Pet damage

The most we will pay for this insured event under ’Section 2: Contents’ and ’Section 3: Building (tenant damage)’ combined is $2,500 during any one period of insurance.

Riot, civil commotion or public disturbance

Scorching

The most we will pay for this insured event under ’Section 2: Contents’ and ’Section 3: Building (tenant damage)’ combined is $1,000 during any one period of insurance.

Storm or rainwater

Tenant Damage

Building

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Insured Events

Sub-limit

Pet damage

The most we will pay for this insured event under ’Section 2: Contents’ and ’Section 3: Building (tenant damage)’ combined is $2,500 during any one period of insurance.

The most we will pay for this insured event under ’Section 2: Contents’ and ’Section 3: Building (tenant damage)’ combined is $1,000 during any one period of insurance.

Tenant Damage

Other

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Insured Events

Limit

Legal expenses

Up to $5,000 per claim

Representation costs

Up to $500 for that claim, where you are liable for the costs incurred as expressly written in a management agreement, as a result of your property manager representing you in court or a tribunal for the purpose of obtaining a court order against the tenant, or a sub limit of $300 per claim for engaging a bailiff/sheriff for the purpose of evicting your tenant.

Replacement of locks

Up to $250 per claim for the costs you incur over and above the tenant’s bond monies, following the successful eviction of the tenant.

Re-letting expenses in excess of the bond

Up to $500 per period of insurance but only if bond money, equivalent to 4 weeks rent has been collected and has been fully exhausted.

Removal and storage of goods

Up to $500 per tenancy

Up to $20million in legal liability

The Landlord Preferred Self Managed Policy covers landlords who manage the property themselves.

It includes:

Loss of Rental Income

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Insured Events

Sub-limit

Absconding tenant

Up to 20 weeks loss of rent

Defaulting tenant (by court order)

Up to 20 weeks loss of rent

Defaulting tenant (by termination notice)

Up to 20 weeks loss of rent

Failure to give vacant possession

Up to 15 weeks loss of rent

Death of tenant

Up to 15 weeks loss of rent

Hardship

Up to 4 weeks loss of rent

Untenantable property (due to tenant damage to building)

Up to 52 weeks loss of rent

Untenantable property (due to contents damage)

Up to 6 weeks loss of rent

Prevention of access

Up to 52 weeks loss of rent

Up to 6 weeks reduction of rent

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Cover anywhere between $30,000 and $100,000.

Insured Events

Sub-limit

Tenant Damage

Flood

Storm or rainwater

Escape of liquid

Fire (including bushfire) or explosion

Break-in vandalism or theft

Pet damage

Up to $2,500 per period of insurance (Combined with Building damage)

Scorching

Up to $1,000 per year (combined with Building damage)

Impact

Earthquake or tsunami

Glass breakage

Lightning

Oil leakage from any heater

Electric motor burnout

Up to $2,000 per claim

Riot, civil commotion or public disturbance

Building

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Up to $60,000 cover included per year

Insured Events

Sub-limit

Tenant Damage

Pet damage

Up to $2,500 per period of insurance (Combined with Building damage)

Scorching

Up to $1,000 per year (Combined with Contents damage)

Other

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Insured Events

Limit

Legal expenses

Up to $5,000 per claim

Bailiff/Sheriff fees up to $300 per claim

Up to $300 per claim

Replacement of locks

Up to $250 per claim

Re-letting expenses in excess of the bond

Up to $500 per period of insurance

Removal and storage of goods

Up to $500 per tenancy

Legal Liability

Up to $20million in legal liability

Up to $1,000 per claim

This content applies to new policies and renewal policies commenced or renewed on or after 29 March 2021.

For full details of our policies we recommend you read the relevant Product Disclosure Statement.
The Target Market Determination is also available.

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Why Landlord Insurance is important

Landlord Insurance covers you for tenant-related losses. Things like loss of rent due to a tenant breaking their lease or being evicted, or damage caused to your contents by tenants, like drink spills on carpets. Other insurance may not cover these events, and very often, the bond won’t be enough to cover the associated costs.

Combine
and save

If you own a freestanding building, combine one of our Landlord Insurance products with our Residential Building Insurance and receive a 10% discount on your Residential Building Insurance policy.

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Holiday Rental Insurance

What's Covered

Loss of rental income

Contents

Building

Additional benefits

Details of what's covered

Why Landlord Insurance is important

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