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Landlord Insurance
Terri Scheer Landlord Insurance is made specifically for landlords, helping cover tenant-related risks like lost rent and tenant damage to your property.
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5% first year online discount+
What is Landlord Insurance?
Landlord Insurance is a specialised type of insurance designed to cover landlords against selected risks associated with renting out a property, which include loss of rental income and tenant related damage to the building or contents caused by tenants. This cover can help protect property owners from losses that may not be covered by standard home and contents insurance when renting out a property.
Loss of rent
Covers you for loss of rental income for certain insured events:
If a tenant leaves unexpectedly
If your tenant vacates the property without giving the required notice under their lease, leaves unpaid rent after giving notice, or leaves unpaid rent at the end of their lease, you may be covered for loss of rent for up to 20 weeks.
Due to rent arrears
If your tenant vacates following a termination notice for rent arrears, or following a court or tribunal order due to rent arrears, you may be covered for loss of rent for up to 20 weeks.
When a tenant refuses to leave
If your tenant refuses to vacate after an eviction order has been issued and enforcement action is required, you may be covered for loss of rent for up to 28 weeks (if professionally managed) and up to 20 weeks (if self-managed).
Due to tenant death or hardship
Provides cover for loss of rent if a tenant dies and is the sole person named on the lease (up to 15 weeks), or if a court or tribunal releases a tenant from their lease obligations due to hardship (up to 4 weeks).
If your property becomes untenantable
If your property becomes untenantable for at least 7 days due to tenant damage to the building (where a covered building claim applies), or due to murder, suicide, attempted murder or attempted suicide, you may be covered for loss of rent for up to 52 weeks.
Rent reduction following building damage
If your tenant remains in the property but cannot fully use it due to covered building damage and you agree to reduce their rent, you may be covered for the reduction in rent for up to 52 weeks.
Contents
Covers those things you might forget, like curtains, carpets, blinds and light fittings:
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.
Cover for contents at the insured address
Covers loss or damage to your contents at the insured address caused by insured events covered under the policy, subject to the applicable terms, conditions, limits and exclusions.
Tenant damage to contents
Covers loss or damage caused by the tenant, the tenant’s family or the tenant’s invited guests, including theft by those persons, subject to policy terms and exclusions.
Pet damage
Covers loss or damage caused by a tenant’s domestic pet, where a pet bond has been collected when legally permitted. The most payable under Contents and Building (tenant damage) combined is $5,000 during any one period of insurance.
Building
Covers your property against certain events related to your tenants:
Tenant damage to property
Includes cover for damage caused by tenants, their family members and guests. This is up to your policy limits, during your insurance period.
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.
Loss of rent
We do not cover:
Vacancy due to market conditions
If your property is vacant because of rental demand or market conditions, lost rent during that time isn’t covered.
Additional or indirect costs
We don’t cover extra costs or other losses unless expressly stated in the policy, including travel costs, cleaning costs, medical expenses, loss of other income or wages, and professional fees.
Contents
We do not cover:
Items that are not considered contents
Certain items are excluded from the definition of contents, including jewellery, cash, computers and tablets, cameras, vehicles, bicycles, watercraft and personal belongings.
Contents which do not belong to you
This could include items that are owned by your tenants.
Contents in the open air worth more than $3,000
‘Open air’ is considered in or under any part of the property which is not fully enclosed by walls and a roof, such as a veranda, carport, gazebo or outdoor living area within the land boundaries. It can also be in or on a motor vehicle, motorcycle, trailer or caravan, whether those vehicles are locked or not.
Building
We do not cover:
Events within the first 72 hours
Damage from events such as bushfire, flood or storm during the first 72 hours may not be covered (unless limited exceptions apply).
Wear, tear, and gradual deterioration
Normal ageing and gradual wear from regular use aren’t covered. For example, door hinges wearing down over time wouldn’t be included.
Poor housekeeping and cleaning-related costs
Loss or damage resulting from poor housekeeping by tenants, including untidy, unclean or unhygienic living habits, is not covered. Cleaning costs are also not covered unless specifically stated elsewhere in the policy.
Lack of maintenance
Damage that happens because of poor maintenance or existing issues (like blocked gutters or structural wear) isn’t covered.
Deliberate or unlawful acts by you
Loss, damage or liability arising from deliberate, unlawful or criminal acts by you, or someone acting with your knowledge or permission, is not covered.
Defects or construction issues
Problems caused by faulty design, poor workmanship, or existing defects aren’t covered.
Illegal or prohibited activities
Damage or loss caused by illegal activities – such as the use or storage of illegal drugs – isn’t covered.
Items or areas not considered the building
This can include loss or damage to above ground swimming pools, carpets, floating floorboards, plants or hedges.
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.
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.
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.
Representation costs up to $500 (with professionally)
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.
Emergency Service damage up to $1,000
Damage caused as a result of Emergency Service Personnel entering the property.
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.
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.
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
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Building Insurance
Cover your rental property against unexpected events like fire, storm and flood, helping you insure your building from costly damage.
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Combined Coverage
Bundle your Landlord and Building Insurance with Terri Scheer.
Frequently Asked Questions
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View all FAQs
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 cover both your property and the income it generates.
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What’s the difference between a specialist landlord insurer and a general insurer?
A specialist landlord insurer focuses on rental properties and designs policies specifically for landlord risks.
A general insurer offers a wide range of insurance products, where landlord cover is often included as an add-on. This insurance may not cover the specific needs of landlords, like loss of rental income or tenant-related damage.
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Does Landlord Insurance cover the building?
Landlord Insurance covers damage to your building only when it is caused by tenants or their guests. For broader protection against events like storm or flood, you may also need a separate building insurance policy or a combined cover option.
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How do I choose the right sum insured?
Your sum insured should reflect what it would cost to rebuild your property and replace your contents at today’s prices. You can use a building calculator as a guide, but it’s important to consider a professional valuation to ensure your cover is sufficient.
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What happens if I move into the property?
Your Landlord Insurance policy is designed for rental properties. If you move into the property and live there permanently, your cover will no longer be valid. You or your property manager must notify us as soon as possible if this occurs.
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Do changes or cancellations need to be in writing?
No, you do not need to submit changes or cancellations in writing. Most requests can be completed over the phone, and email instructions are also accepted for your convenience.
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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.
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