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What does Landlord cover?

Landlord Insurance can include Building Insurance, Contents Insurance, or both. 

Building Insurance is designed to protect your investment property’s physical structures and fixtures including the garage, fences and paved driveways. It also includes built-in appliances like hot water systems and air-conditioners.

Contents insurance covers items at your investment property that you have provided for your tenant. This can include furniture, carpet, window fittings, appliances – and even the BBQ.


What’s covered

  • Legal liability

    Legal liability covered up to $20 million for payment of compensation relating to death, bodily injury or illness, and/or physical loss of, or damage to, property which occurred at the insured address.

  • Rental costs after an insured event

    Payments for loss of rent for up to twelve months when your buildings are damaged and deemed unliveable after an insured event. 

  • Landlord contents

    Repair or replacement of contents you own and provide for your tenant’s use if damaged or lost as a result of an insured event. Covered up to the sum insured for contents, or if you select buildings only cover; the lesser of $10,000 or the remainder of the sum insured after a buildings claim.

What’s not covered

  • Wear and tear

    Wear and tear including depreciation, gradual deterioration, wear and tear or lack of maintenance.

  • Defects

    Inherent defects including faulty design or materials, structural defects or poor workmanship.

  • Illegal contents

    Illegal contents or personal effects which are acquired illegally or are illegally held.

  • Soil movement 

    Soil movement including erosion, landslide, mudslide or subsidence unless it is directly caused by and occurs within 72 hours of an explosion, earthquake, tsunami, storm or flood.

     

For full details, of the terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS) (PDF 1MB), the Premium, Excess, Discount and Options Guide (PED) (PDF 237KB), and the Landlord Building and Landlord Contents Key Fact Sheets (KFS) before making a decision to purchase the insurance.

 

How much cover is enough?

It’s important to have the right amount of insurance to cover the cost of replacing your home in today’s dollars if the unexpected happens. If you don’t have enough, you may have to cover some of the cost yourself and if you have too much, you may only be paid an amount that covers your loss. 

Our Home Building Insurance Calculator works as a guide to help you estimate the replacement value of your home.

Details on the benefits paid for your building sum insured are available in the PDS. Calculators on our website are intended as a guide only.^
 

Add optional cover

Tailor your cover to suit you. Add any of these optional covers for an additional fee and greater peace of mind.

Rent default & tenant theft

Cover for loss of specified rental defaults up to $10,000 and loss or damage to your property caused by theft, burglary or damage committed by your tenant.

Landlord’s workers’ compensation

Cover for compensation 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.

Special offers

New and existing customers

New policy online discount

Save up to 10% on your first year’s premium when you buy a new Landlord policy online.3,5

Combined cover discount

Save up to 10% when you combine your Building and Contents policies.4,5

Why choose Westpac Landlord Insurance?

Side by side banking

See your insurance policies online alongside your other Westpac accounts.1

Flexible payment options

Manage your budget with the option to pay by the month at no extra cost.2

Comprehensive cover

Cover your investment property against major events including fire, storms, flood & theft.

We’re here with you every step of the way

1. Get a quote online

Get a quote online. You can also buy over the phone with one of our friendly consultants.

2. Check or change your policy

We are here to help with your insurance needs. We also have optional cover to give you a greater flexibility of cover. Give us a call on 1300 650 255.

3. Make a claim

You can lodge a claim online and get instant confirmation. Find out more about how to make a claim.

Frequently asked questions

  1. Ensure you and your family are safe and take all reasonable precautions to prevent further loss, damage or liability.
  2. Contact the police immediately to report any malicious damage, theft, attempted theft, burglary or loss of insured property.
  3. Contact the Claims Call Centre on 1300 369 989 and advise the Claims Consultant of what has happened. The Claims Consultant will help you through the home and contents insurance claims process. 

Flood cover is automatically included for Building and Contents in Home and Landlords policies. For full details of terms, conditions, limits and exclusions, please refer to the relevant Product Disclosure Statement, any supplementary PDS (if applicable) and Home Building or Home Contents Key Fact Sheets

Yes. Altering the security on your property may change the conditions of your home insurance, which could affect your premium. 

You should call 1300 650 255 as soon as you remove or stop using any security devices that were specifically required by Allianz. If you don’t, Allianz may not pay a claim in whole or in part under the policy to the extent permitted by law. 

When Allianz receive this information, they may: 

  • propose changes to the terms and conditions of your policy 
  • charge you a higher premium 
  • cancel your policy 
  • decide not to offer to renew your policy. 

You should let Allianz know before work commences if any alterations, additions, demolition, repairs to, or decorations of the buildings will be more than $75,000. If you don’t, they may not pay a claim in whole or in part under the policy to the extent permitted by law. When we receive this information, they may: 

  • propose changes to the terms and conditions of your policy 
  • charge you a higher premium 
  • cancel your policy 
  • decide not to offer to renew your policy. 


You should also increase your sum insured to take into account the cost of any extensions or renovations to make sure you are adequately covered if you need to make a home insurance claim.

Yes. Please tell us if you plan to start using any part of your home building for business, trade or professional purposes (except for a home office). 

If you don’t, Allianz may not pay a claim, in whole or in part, under the policy to the extent permitted by law. When Allianz receive this information, they may: 

  • propose changes to the terms and conditions of your policy 
  • charge you a higher premium 
  • cancel your policy 
  • decide not to offer to renew your policy. 

If you’re renting your home out to tenants, cover is only available under our Home and Contents Insurance if you also live at the insured address.  If you don’t, our Landlord Insurance is probably a better fit. 

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 in today’s terms. 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 - so you should also be careful not to over insure. Our home insurance calculators can help you decide the sum to insure that’s right for you.

To help you estimate the replacement value of your buildings and/or contents, you can use our Home Building calculator and/or our Home Contents calculator.^

You can apply to add these options to your policy at any time by contacting Allianz on 1300 650 255. If you’re not sure whether you have added these cover options, you can check your policy schedule. 

Insurance purchased prior to 12 December (no longer for sale)

Information for customers who purchased before 12 December 2021.

Learn more

Things you should know
^ The Building and Contents calculators available through our websites are intended as a guide only. For a more accurate rebuilding cost, consider obtaining a professional valuation from a licensed builder or professional valuer.

1. Only primary policyholders can see policies alongside their other Westpac accounts.

2. 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.

3. Online discount When you buy a new Landlord insurance policy online a discount of up to 10% is applied to your first year’s premium including for Flood. This discount is not applied on renewal.

4. Combined A premium discount of up to 10% for combining Building and Contents covers on one policy is applied for Building and Contents cover. This discount is not applied to the premium for Flood or for optional cover; Rent Default and Theft by Tenant.

5. 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/Landlord workers’ compensation (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. 

Westpac Landlord Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the insurance under a distribution agreement with Allianz Insurance but does not guarantee the insurance. This information does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement. For more information call 1300 650 255

A target market determination has been made for this product. Please visit www.westpac.com.au/tmd for the target market determination.

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