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Should a landlord get building or contents insurance

Choosing cover for your investment property is easy. What kind of property do you own?

Unfurnished house

If your rental property is a house and it’s unfurnished, you may just need Building cover, which includes cover for light fittings, fixed carpets and window coverings. Plus you can add optional Landlord Extras1 to cover tenants who stop paying rent or maliciously damage your property.

 

Furnished house

No doubt you’ve put a lot into buying and furnishing your investment property, so you’ll want to protect it inside and out - with Building cover for the house itself and Contents cover. Plus you can add optional Landlord Extras1 to cover tenants who stop paying rent or maliciously damage your property.

 

Unfurnished strata unit or townhouse

If your rental property is part of a strata, group or community title plan and the Building cover is taken care of, you may just need cover for the basics plus tenants. Choose Contents cover to cover fixtures, fittings and structural improvements eg curtains, carpets and a renovated kitchen. Plus you can add optional Landlord Extras1 to cover tenants who stop paying rent or maliciously damage your property.

 

Furnished strata unit or townhouse

If your rental property is part of a strata, group or community title plan and the Building cover is taken care of, Contents cover and optional Landlord Extras1 may be all you need. As well as the furnishings, it includes cover for fixtures, fittings and structural improvements eg curtains, carpets and a renovated kitchen.

 


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What is covered by my landlord insurance policy?

Insurance is about protecting the investment you've worked hard for. You want to be sure you can get it back on track if the unexpected happens.

 

How much landlord insurance cover do I need?

When you’re a landlord, insurance is more than just another piece of paperwork. It’s important protection for the investment you’ve worked hard for and the future security that means for you and your family.

 

Things you should know

The information contained in this article is general information only and is not specific to any product.  

It does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to your personal objectives, financial situation and needs to these factors before acting on it.

Terms, conditions and exclusions apply to any insurance product. Please read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding.

1 A Landlord Extras claim will only be paid if you’re able to provide certain documents and evidence such as:
•    A written rental agreement
•    A documented booking confirmation (for casually-let properties)
•    Documented property inspection reports.
The rental agreement should state the term of the lease, the amount of rent and bond payable by the tenant/s.

Westpac Retail and Business Banking Financial Services Guide, Credit Guide and Privacy Statement (PDF 89KB)

Landlord Insurance Product Disclosure Statement (applicable to policies issued or renewed on or after 5 April 2021) (PDF 428KB)

Landlord Insurance Product Disclosure Statement and Supplementary Product Disclosure Statement (applicable to policies issued or renewed in the period between 1 July 2019 and 4 April 2021) (PDF 349KB)

Landlord Insurance is issued by Westpac General Insurance Limited ABN 99 003 719 319 (except workers compensation cover where applicable). Westpac Banking Corporation ABN 33 007 457 141 distributes the insurance, but does not guarantee the insurance. This information does not take into account your personal circumstances. Read the Product Disclosure Statement to see if this insurance is right for you.