Protect your investment property and landlord’s contents from insured events such as theft, fire7, storm and malicious damage.
- Cover for your investment property
- Save up to 10% on your first year’s premium when you buy a new policy online1,4
- Pay by the month at no extra cost 6
A residential investment property needs to be appropriately protected. Landlord insurance can give you the confidence that your property will be looked after should something go wrong. Allianz Landlord Insurance through Fire Service Credit Union covers the property and/or the contents you provide for your tenant’s use.
To help you decide the cover you need, Here’s a brief outline of the difference between Buildings and Contents cover.
Designed to cover the physical structures that make up your property, like the house itself, garage, sheds, permanently installed swimming pools and decks.
Designed to cover items at your property – from furniture, white goods and removable domestic appliances which belong to you as the landlord and that you have provided for the use of your tenant. It also covers your carpets and window furnishings.
Features and Benefits
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.
Select the cover to suit your needs. Effective 22 February 2021.
Landlord Insurance Features and Benefits
|Cover for the unexpected||Allianz offers protection for your investment property for out of the ordinary but devastating events such as fire7, storm and burglary.|
|Legal liability||Allianz 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 your buildings are totally destroyed and need to be rebuilt, in addition to your buildings sum insured, Allianz 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||In the event you require repair or replacement of your contents you own and provide for you tenant’s use. If you select buildings cover, Allianz will pay up to $10,000. Alternatively, if you select contents cover, Allianz will pay up to the sum insured.|
|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 after an insured event Allianz 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 need to rebuild your buildings after total loss or damage, Allianz will help pay the reasonable costs of architects, engineers, surveyors and solicitors up to $5,000.|
|Debris removal||Allianz will pay 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 lodgement||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||Allianz 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.|
Landlord Insurance Optional Covers
Apply to add any of these optional covers for an additional premium and greater cover
|Landlord workers’ compensation cover||Cover for the compensation amount you are liable to pay if you employ a domestic worker and they are injured while working for you at the insured address. Only available in ACT, WA and TAS.|
|Rent by default & theft by tenant||Option to be covered for loss of rent due to specified rental defaults, up to $10,000 in total.
Cover for loss or damage to your insured buildings or contents caused by theft, burglary or housebreaking committed by your tenant of invitees of your tenant.
|Flood cover||Flood cover may be available as an optional cover to your buildings and/or contents. A 72 hour exclusion period applies.|
|What do I do if I need to make a landlord insurance claim?||Do what you reasonably can to prevent 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 555 030 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 us first.|
|Am I covered for Flood?||Flood cover is an option on both Building and Contents in Home and Landlords policies. Please call us on 08 8227 2222 to find out whether you are eligible for Flood cover. For full details of terms, conditions, limits and exclusions of all our home insurance cover options, please refer to the relevant Product Disclosure Statement any supplementary PDS and Landlord Buildings or Landlord Contents Key Fact Sheets.|
|How do I know if I have optional covers on my policy?||You can apply to add these options to your policy when you start or renew it (or during your period of insurance by contacting Fire Service Credit Union on 08 8227 2222. If you’re not sure whether you have added these cover options, you can check your policy schedule.|
|Who is Landlord insurance policy designed for?||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.|
|How should I determine the replacement value of my buildings?||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.|
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.
Fire Service Credit Union ABN 17 087 651 152 AFSL/Australian Credit Licence No. 237515 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No 234708. 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 Product Disclosure Statement available from www.fscu.com.au. The relevant Target Market Determination is avilable by calling (08) 8227 2222. 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.
1.Online discount – When you buy a new Landlord insurance policy online a premium discount of up to 10% is applied to your first year’s premium including the optional cover Flood. This discount is not applied on renewal.
3.No Claims Bonus – When you take out a new policy, we calculate your No Claims Bonus (NCB) based on your home or landlord (as applicable) insurance claims history. To qualify for the maximum No Claims Bonus of 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding 5years. Landlord customers must have had no Landlord insurance claims in the preceding 3 years. However, customers who have had claims may still qualify for a reduced No Claim Bonus.
4.Minimum premiums – If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced. For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.
Discounts do not apply to taxes or government charges.
Discounts do not apply to optional covers for Domestic workers’ compensation / Landlord workers’ compensation, and may not apply to other optional covers (if available and selected).
Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.
5.Option to change your excess – Not available when an additional compulsory excess or imposed excess applies. Minimum Premiums apply.
6.Instalment premiums – If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
7. 72 hour waiting period – We do not provide cover for any loss of or damage to your property caused by cyclone, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy.
8. Earthquake excess – An additional imposed excess amount of $250 applies for each claim or loss or damage caused by an earthquake or tsunami, or a series of earthquake or tsunamis, during any period of 48 consecutive hours.