A residential investment property needs to be appropriately insured.
Landlord insurance can give you the confidence that your property will be covered should something go wrong. Beyond Bank Landlord Insurance covers the property and/or the contents you provide for your tenant’s use from loss or damage by insured events.
The difference between Buildings and Contents cover.
To help you decide the cover you need, here’s a brief outline of the difference between Buildings and Contents cover.
The better you understand your policy, the easier it will be if you ever have to claim.
Here is a limited summary of the benefits of a landlord insurance policy. For full details of the standard terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS), any applicable supplementary PDS before making a decision to purchase the insurance. The Landlord Buildings and Landlord Contents Key Fact Sheets (KFS) also sets out some information about the cover.
- Cover for the unexpected
Beyond Bank Landlord Insurance offers cover for your investment property for out of the ordinary but devastating events such as fire4, storm4 and burglary. - Legal liability
Beyond Bank Landlord Insurance will cover your legal liability up to $20 million for payment of compensation relating to death, bodily injury or illness, and/or physical loss of or damage to property caused by an accident (or series of accidents). If you have contents cover only, it does not cover any legal liability you may incur as owner of the buildings unless the buildings are defined as a lot. - Making your buildings environmentally friendly
If you have buildings cover and your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Beyond Bank Landlord Insurance will pay up to $5,000 (after deduction of any government or council rebates) to help you make the new buildings more environmentally friendly. - Landlords contents
Beyond Bank Landlord Insurance will pay for repair or replacement of contents you own and provide for your tenant’s use as a result of an insured event. - If you have buildings cover only, Beyond Bank Landlord Insurance will pay up to the lesser of $10,000 or the remainder of the sum insured after payment of the buildings claim, for certain landlords contents under this additional benefit.
- Rental costs after an insured event
If your buildings are damaged by an insured event and can’t be lived in by your tenant, or access to or use of the buildings is not possible for at least 7 days after an insured event Beyond Bank Landlord Insurance will pay for your loss of rent on the buildings for up to 12 months if you have buildings cover or if your building is part of a strata title development and you have contents cover only.
- Rebuilding and professional fees
If you have buildings cover and need to rebuild your buildings after buildings after total loss or damage, Beyond Bank Landlord Insurance will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000. - Debris removal
Beyond Bank Landlord Insurance will cover up to 10% of the building and/or contents sum insured for removing debris from your insured address if your buildings are damaged or destroyed by an insured event. - 24/7 claims assistance
When you need to make a claim Allianz are there for you with 24 hour claims lodgement available online, or you can call the claims line to commence the claims process over the phone. - Contents in the open air at the insured address
If you have contents cover, Beyond Bank Landlord Insurance will cover contents in the open air (that you own and that you have provided for your tenants use) which have been lost or damaged by an insured event covered by your policy, up to a maximum amount of $1000.
Optional covers.
Apply to add any of these optional covers for an additional premium and greater cover.
Policy Documents and Key Fact Sheets.
We do not provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply.
Before making a decision please refer to the Landlord Product Disclosure Statement (PDS) any applicable supplementary PDS and Landlord Buildings or Landlord Contents Key Fact Sheets also available for reference.
Useful links.
Landlord Insurance Calculators
It’s up to you to decide the sums insured, and the type and level of cover that you want to take out. People generally want enough insurance to cover the property’s estimated replacement value. If you don’t have enough cover, you could end up having to cover some of the costs yourself.
Remember, Allianz will only pay up to the amount of your loss or the sum insured, whichever is the lesser (subject to the policy terms and conditions) - so you should also be careful not to over insure. That's why we've provided these calculators. They work as guides to help you estimate the replacement value of your landlord building and contents.
Useful links.
Frequently Asked Questions
Do what you reasonably can to prevent any further loss, damage or liability. Tell the police as soon as reasonably possible about any malicious damage, theft, attempted theft, burglary or loss of insured property. Contact the Claims Call Centre on 1300 651 777 and advise the Claims Consultant of what has happened: the Claims Consultant will help you through the landlord insurance claims process.
In order to be sure that you are covered under this policy you should always contact Allianz for approval before you incur expenses you wish to claim. If you do not, Allianz will pay for expenses incurred to the amount Allianz would have authorised had you asked Allianz first.
You can apply to add these options to your policy when you start or renew it (or during your period of insurance by contacting us on 13 25 85. If you’re not sure whether you have added these cover options, you can check your policy schedule.
This insurance policy has been designed for people who are renting their property out to tenants under a residential rental agreement.
Contents owned by you (or for which you are legally responsible) and provide for the use of the tenants may also be covered under the policy.
This policy is not suitable for covering the building or contents of the home you live in. In this regard, Allianz offer a Home and Contents product that has been specifically designed for homeowners or renters.
For more information on Home and Contents insurance, please visit the product page.
The replacement value of your buildings is not the same as the market value – you do not need to include the value of the land when calculating the buildings replacement value.
Please read this important information.
| *Competition open to Australian residents over the age of 18 who purchase a new Beyond Bank Home and Contents, Landlord or Comprehensive Motor Insurance policy from 01/10/24 to 31/12/24. Contents only policies are not eligible for entry. Prize is drawn on 12/02/24 at Anisimoff Legal, 3 Amy Close, Wyong NSW 2259 Australia. Winner’s name published on the Beyond Bank website at beyondbank.com.au/competition within 7 (seven) days of the draw. Authorised under NSW Authority No. TP/ 01386, ACT Permit No. TP24/ 02185, SA Permit No. T24/ 1668. Promotion terms and conditions available at beyondbank.com.au/competition. Promoter is Beyond Bank Australia. | |
| Beyond Bank Australia Ltd ABN 15 087 651 143 AFSL/Australian Credit Licence 237856 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFSL No 234708. Travel insurance is issued and managed by AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance (AGA), for the insurer Allianz. Terms, conditions, exclusions, limits and applicable sub-limits apply. | |
| We do not provide any advice based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits and exclusions apply. Before making a decision, please consider the relevant Product Disclosure Statement available from beyondbank.com.au/about-us/corporate-governance/disclosures. The relevant Target Market Determination is available by calling 13 25 85. If you purchase this insurance, we will receive a commission that is a percentage of the premium. Ask us for more details before we provide you with services. | |
| If you obtain or purchase insurance through our website you also agree to have received our Financial Services Guide (FSG) which is available from our website. | |
| 1 | Minimum premiums. |
| 2 | Online Discount. |
| 3 | Instalment premiums. |
| 4 | 72 hour exclusion period. |