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Essentials

With Westpac Landlord Insurance you get the choice of 2 levels of comprehensive building and contents cover and there's optional cover for protection in case tenants don't do the right thing.

  • Save 10% off your annual premium for the first year when you apply online and enter the promotional code COVER
  • Save an additional 10% for combining your Building and Contents insurance*
  • Comprehensive cover for storm, flood, fire, theft and more
  • Valuable extra cover included such as a sum insured safety net in case repair or replacement costs are higher than expected and loss of rent (in Quality Care)
  • Optional cover for tenants causing malicious damage, defaulting on rent payments and theft
  • Pay by the month with no extra fee
  • Discounts to help you save on your premium.

Highlights

No matter what level of cover you choose, these events are covered as standard. Of course, like all policies, some exclusions, limits and conditions apply.

  • Storm
  • Flood
  • Lightning
  • Fire
  • Earthquake
  • Explosion
  • Impact
  • Escape of liquid
  • Malicious acts, riot and civil commotion
  • Legal liability up to $20 million.

Here are some key differences between the 2 levels of cover.
 

Essential Care
Quality Care
  • For contents cover, theft is only covered if the theft occurs from inside a locked building at the site and only where there is evidence of forced entry
  • Safety net up to 10% of the sum insured for your building, and up to 5% of the sum insured for your contents.
  • For contents cover, theft is covered if the theft occurs from a fully enclosed and lockable building at the site and for up to $2,000 for items that were in the open air at the site
  • Safety net up to 20% of the sum insured for your building, and up to 10% of the sum insured for your contents
  • Electrical motor burnout
  • Accidental glass breakage
  • Loss of rent up to 10% of your sum insured or for up to 12 months, whichever is less.

Compare differences on the full list of insured events,  extra benefits and contents with cover limits. 

Add optional Landlord Extras to any level of cover for protection against tenants for theft, malicious damage or rent default.

After an insured event (and sometimes even without one), related expenses and extra benefits are automatically covered.

Landlord building benefits paid in addition to your building sum insured

Benefits Essential Care Quality Care
Sum insured safety net Up to 10% of the sum insured Up to 20% of the sum insured
Demolition and removal of debris Up to 10% of the sum insured Up to 10% of the sum insured
Rainwater tanks and solar heating

 

Up to $3,000

Landlord building benefits paid as part of your building sum insured

Benefits Essential Care
Quality Care
Emergency repairs and protection

 

 

Professional fees Up to 10% of the sum insured Up to 10% of the sum insured
Building laws and regulations Up to 10% of the sum insured Up to 10% of the sum insured
Fire brigade charges Up to $5,000 Up to $5,000
Mortgage discharge

 

 

Landlord fixtures and fittings

 

Up to $20,000
Loss of rent

 

Up to 10% of the sum insured or for up to 12 months whichever is less

Landlord contents benefits paid in addition to your contents sum insured

Benefits Essential Care
Quality Care
Sum insured safety net Up to 5% of the sum insured Up to 10% of the sum insured
Removal of debris Up to 10% of the sum insured Up to 10% of the sum insured

Landlord contents benefits paid as part of your contents sum insured


Benefits Essential Care
Quality Care
Fire brigade charges Up to $5,000 Up to $5,000
Emergency storage of contents

 

Up to 10% of the sum insured or for up to 12 months whichever is less
Loss of rent

 

Up to 10% of the sum insured or for up to 12 months whichever is less

Other building benefits

Benefits Essential Care
Quality Care
Sum insured automatic indexation    
Locks and keys   Up to $1,000

Your building and contents are covered up to your chosen sum insured, except the contents listed below, which are covered up to the maximum amounts shown.

Contents with limits Essential Care Quality Care
Artworks Up to $3,000 Up to $10,000
TVs, stereos, VCRs, DVD/Blu-ray players and recorders Up to $3,000 No limit
Contents in the open air

 

Up to $2,000 for loss or damage caused by storm, flood and theft, and up to 20% of the sum insured for all other insured events

Limits on these items cannot be increased.

Add optional Landlord Extras for cover against certain events caused by tenants such as theft, malicious damage or defaulting on rent payments.

Event Cover
Malicious acts or theft by tenants

Up to the Building or Contents sum insured

Loss of rent due to default by tenants
(but not for casually let properties)
Up to $1,000 per week/ max 10 weeks
Legal expenses due to rent default Up to $5,000
Denial of access to tenant by Government authority Up to $1,000 per week/ max 52 weeks
Damage caused by pets Up to $500

Do you need a rental agreement with your tenants?

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.

There’s no extra fee to pay monthly, and you can save on your premium if you qualify for one or more of these discounts:

  • No claim bonus
  • Combined policy discounts: Building + Contents
  • If you have a Westpac Premier Advantage Package loan (please call or visit us to receive this discount).


Your online quote will automatically include the discounts you’re eligible for, unless otherwise stated above.

The cost of your premium is made up of a wide range of factors and some of your choices may also help reduce your premium.
 

Generally speaking, here’s how your choices may affect your premium:

  • Choosing a voluntary claim excess. The higher the voluntary claim excess chosen, the lower your premium: $250, $500, $1,000, $2,000, $5,000
  • Choosing a lower level of cover e.g. the premium for Essential Care is less than Quality Care
  • Your home security features (contents premium):
    • Deadlocks, key operated window locks, security grills or bar
    • Local or back-to-base alarm
Things you should know

View the Home and Contents Insurance Key Fact Sheets.

*Receive a 10% discount on your annual premiums when you combine both your building and contents at the same address under one policy. Applied automatically at checkout.

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 (PDF 234KB) to see if this insurance is right for you.