Understanding your Landlord Insurance cover

Important notice

Here’s a summary of key features of St.George Landlord Insurance, provided by Allianz. It doesn’t provide a complete statement of the cover offered, exclusions, conditions and limits that may apply. You should read the Product Disclosure Statement for more details on cover and exclusions.

Product Disclosure Statement (PDF 1MB)Product Disclosure Statement (PDF 1MB)

What’s covered?

Buildings

Building insurance is designed to protect the physical structures and fixtures that make up your buildings. This includes the house, garage, fences and paved driveways. It even includes showers, baths and built-in appliances such as hot water systems, air-conditioners and more.

Refer to page 24 of the Product Disclosure Statement (PDF 1MB)Refer to page 24 of the Product Disclosure Statement (PDF 1MB)

Covered by Building insurance

Covered by Contents insurance

Contents

Contents insurance protects the belongings you have at the insured address. This includes contents for your tenant’s use, such as white goods, appliances, furniture, carpet and BBQs.

Refer to page 34 of the Product Disclosure Statement (PDF 1MB)Refer to page 34 of the Product Disclosure Statement (PDF 1MB)

Covered by Contents insurance

Covered by Building insurance

For some items, Allianz places a maximum limit on how much you can be covered for. Refer to the Product Disclosure Statement for details.

What you are covered for under each of the insured events

There may be exclusion periods and conditions for each event. Please refer to the relevant page in the Product Disclosure Statement.

Fire or smoke (including bushfires and grassfires)*

Buildings and/or Contents

Loss or damage caused by:
- fire
- bushfires and grassfires, or
- smoke.

Refer to page 16 of the Product Disclosure Statement (PDF 1MB)Refer to page 16 of the Product Disclosure Statement (PDF 1MB)

Storm, cyclone, rainwater or run-off*

Buildings and/or contents

Loss or damage caused by:
- storm
- cyclone
- rainwater
- run-off.
Loss or damage caused by or arising from:
- soil movement, including erosion
- landslide
- mudslide, or
- subsidence
if it is caused directly by and occurs within 72 hours of a storm.

Refer to page 17 of the Product Disclosure Statement (PDF 1MB)Refer to page 17 of the Product Disclosure Statement (PDF 1MB)

Water or other liquid damage

Buildings and/or contents

Loss or damage resulting directly from bursting, leaking, discharging or overflowing of any:
- appliances – for example a dishwasher or washing machine
- fixed rainwater or hot water tanks
- radiators and oil heaters
- fixed pipes, gutters or drainpipes, sinks, baths or water carrying apparatus
- waterbeds
- aquariums designed to hold more than 20L
- swimming pools or spas.

Buildings only

If Allianz have agreed to pay a claim for water or other liquid damage to your buildings and;
- Allianz authorise any exploratory work to locate the source of the damage, Allianz will pay those costs.
- you incur costs without prior agreement from Allianz, Allianz will only pay the reasonable covered costs up to the amount they would have agreed to, had you asked first.

Refer to page 18 of the Product Disclosure Statement (PDF 1MB)Refer to page 18 of the Product Disclosure Statement (PDF 1MB)

Theft or burglary

Buildings and/or contents

Loss or damage caused by actual or attempted theft or burglary.
Up to $1,000 to replace the locks or cylinders of any external door or window if:
- the key is stolen, or
- there are reasonable grounds to believe that the key has been copied.
No excess applies for the replacement of locks or cylinders. Allianz will only pay for the replacement of locks or cylinders under one section of the policy (either Buildings or Contents, not both).

Refer to page 19 of the Product Disclosure Statement (PDF 1MB)Refer to page 19 of the Product Disclosure Statement (PDF 1MB)

Explosion

Buildings and/or contents

Loss or damage caused by explosion.
Loss or damage caused by or arising from:
- soil movement, including erosion
- landslide
- mudslide, or
- subsidence
if it is caused directly by and occurs within 72 hours of an explosion.

Refer to page 20 of the Product Disclosure Statement (PDF 1MB)Refer to page 20 of the Product Disclosure Statement (PDF 1MB)

Accidental breakage of glass or ceramic items

Buildings

Accidental breakage of a fixed glass or ceramic item, like a window, cooking surface, sink or toilet.

Accidental breakage of glass that forms part of the contents that you have included for the tenants to use (including fixed or unfixed tabletops and hanging wall mirrors). See the Contents section of the PDS for what is covered as contents.

Refer to page 20 of the Product Disclosure Statement (PDF 1MB)Refer to page 20 of the Product Disclosure Statement (PDF 1MB)

Impact damage

Buildings and/or contents

Loss or damage caused by impact from:
- any motor vehicle, train or watercraft
- an external aerial or satellite dish which collapses or breaks
- an aircraft, or anything dropped or falling from an aircraft
- space debris or debris from a rocket or satellite
- any animal, excluding any animal kept in your home building as a domestic pet, or
- falling trees or parts of trees.

Refer to page 21 of the Product Disclosure Statement (PDF 1MB)Refer to page 21 of the Product Disclosure Statement (PDF 1MB)

Vandalism or malicious damage

Lightning

Earthquake or tsunami

Buildings and/or contents

Loss or damage caused by an earthquake or tsunami.
Loss or damage caused by or arising from:
- soil movement, including erosion,
- landslide
- mudslide, or
- subsidence
if it is caused directly by and occurs within 72 hours of an earthquake or tsunami.

An additional excess of $250 on top of any other excess payable under the policy applies to each earthquake and/or tsunami (including a series of earthquakes and/or tsunamis) that occurs during any consecutive 48-hour period.

Refer to page 22 of the Product Disclosure Statement (PDF 1MB)Refer to page 22 of the Product Disclosure Statement (PDF 1MB)

Riot or civil commotion

Flood

Buildings and/or contents

Loss or damage caused by:
- flood*
- flood water*, combined with run-off and rainwater.
Loss or damage caused by or arising from:
- soil movement, including erosion
- landslide
- mudslide, or
- subsidence
if it is caused directly by and occurs within 72 hours of a flood.

Refer to page 23 of the Product Disclosure Statement (PDF 1MB)Refer to page 23 of the Product Disclosure Statement (PDF 1MB)

Additional benefits

Here’s a summary of included additional benefits. These benefits are added to your sum insured amount or are explained below. For full details of what is covered and limitations, please refer to the relevant page in the Product Disclosure Statement.

Refer to page 28-33 and 37-40 of the Product Disclosure Statement (PDF 1MB)Refer to page 28-33 and 37-40 of the Product Disclosure Statement (PDF 1MB)

Debris removal

Buildings and/or contents

Allianz will pay the reasonable and necessary costs of demolition and removing debris from your insured address under Buildings cover and/or the reasonable cost of removing contents debris under Contents cover.

Rebuilding and professional fees

Making your buildings environmentally friendly

Building code compliance costs

Rental costs after an insured event

Buildings

If your buildings are damaged by an insured event that Allianz have agreed to cover and your buildings can’t be lived in by your tenant, or access to or the use of your buildings was not possible, Allianz will pay for your loss of rent on the buildings.

Only applicable if the building is part of a strata title development and you have contents cover only.

Landlords contents

Motor Burnout

Buildings

This benefit covers you if an electrical current damages household electrical motors that you own and that are fixed to your buildings, like an air-conditioning unit.

This benefit covers you if an electrical current damages household contents electrical motors electrical motors in appliances like a fridge, freeze or washing machine, that you own and that you have provided for your tenants to use.

Contents in the open air at the insured address

Optional Cover (at an extra cost)

Here’s a summary of the optional cover you can choose to add to buildings or contents insurance, for an additional fee.

Rent Default and Theft by Tenant

Available for both Buildings and/or Contents cover

If you have this cover, Allianz will pay you for your loss of rent due to the occurrence of one or more of the following insured events listed below for the periods stated in the Product Disclosure Statement:

Default of payment of rent by the tenant
Death of a sole tenant
Tenant hardship
Theft by tenant.

Refer to page 42 of the Product Disclosure Statement (PDF 1MB)Refer to page 42 of the Product Disclosure Statement (PDF 1MB)

Landlord workers’ compensation

What may not be covered?

You may not be covered for damage caused by, or to, items that have not been well maintained. For example, if a storm causes water damage to your ceiling, you may not be fully covered if the water entered because of a poorly maintained roof.

There are some general and additional exclusions that apply to certain insured events. For full details of what may be excluded, please refer to the relevant page in the Product Disclosure Statement.

Refer to the Product Disclosure Statement (PDF 1MB)Refer to the Product Disclosure Statement (PDF 1MB)

Exclusions may include:

Wear and tear

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

Defects

Illegal contents

Soil movement

Your unoccupied property

Maintenance, repair or attempted repair operations

Important information

There are some general and additional exclusions that apply specifically to certain insured events. For full details, please refer to the Product Disclosure Statement.

^*A 72-hour exclusion period applies to some insured events. Allianz does not provide cover (where the type of cover you have under the policy provides it) for any loss of or damage to property caused by cyclone, flood, grassfires and bushfires, during the first 72 hours after you first take out or increase the cover under the policy. There are some general exclusions and additional exclusions that apply specifically to certain insured events. Make sure you check these carefully by reading the Product Disclosure Statement.

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. The information is not advice, recommendation or opinion on any products or services provided by St.George or third parties. For this reason, you should consider the appropriateness for the information to your own circumstances and, if necessary, seek appropriate professional advice. For more information on any specific products or services distributed or provided by St.George, you may wish to read the relevant Product Disclosure Statement. To see some of the events covered and not covered, please refer to our Key Fact Sheets (KFS).

Landlord Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). St.George - a Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the initial issue of 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 1800 812 133.

If you take out Landlord Insurance with Allianz the Bank will receive a commission of up to 12% of the premium (exclusive of GST).

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

St.George's Privacy Statement is available at stgeorge.com.au/privacy/privacy-statement or by calling 13 33 30. It covers:

How you can access the personal information St.George holds about you and ask for it to be corrected;
How you can complain about a breach of the Privacy Act 1988 (Cth) or a registered Code by St.George and how St.George will deal with your complaint; and
How St.George collect, hold, use and disclose your personal information in more detail.

View the St.George Retail and Business Banking Financial Services Guide and Credit Guide (PDF 890KB)