A residential investment property needs to be appropriately protected. Insurance can give you the peace of mind and confidence that your property will be looked after should something go wrong. Allianz Landlord Insurance through Bank of Heritage Isle 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.
- Landlord Buildings
- Designed to cover the physical structures that make up your property, like the house itself, garage, sheds, permanently installed swimming pools and decks. Generally for customers who own a freehold home – like a house, townhouse, terrace or semi-detached dwelling.
- Landlord Contents
- Designed to cover items at your property – from furniture, removable domestic appliances and white goods 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.
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.
If you purchased home or landlord insurance before 18 November 2019, please refer to the relevant Vital Home Insurance, Classic Home Insurance, Prestige Home Insurance and Landlord Insurance Product Disclosure Statements (PDS), any applicable supplementary PDS, Home or Landlord Buildings or Contents Key Fact Sheets.
Landlord Insurance Calculators
Frequently asked questions
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 Bank of Heritage Isle on 134 374). 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, we 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.
Police Bank Limited and its divisions, Border Bank and Bank of Heritage Isle ABN 95 087 650 799 AFSL/Australian Credit Licence No. 240018 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 relevant Product Disclosure Statement available from www.heritageisle.com.au. 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.
*Competition open to Australian residents over the age of 18 who purchase a new Allianz Home, Landlord or Comprehensive Motor Insurance policy through Bank of Heritage Isle from 14/10/19 to 08/12/19. For the avoidance of doubt, one (1) draw with eight (8) winners will be conducted for Police Bank Limited with the entries combined from each of the above three (3) divisions. Prize is drawn on 17/12/19 at Anisimoff Legal Suite 5, Erina Plaza, Central Coast Highway, Erina NSW 2250. Winner’s name published in The Australian on 24/12/19. Authorised under NSW Permit No: LTPS/19/37670, ACT Permit No: TP19/04102, SA Licence No: T19/1469. Promotion terms and conditions available at allianz.com.au/prize. Promoter is Allianz. Apple Watch is a trademark of Apple Inc., registered in the U.S. and other countries.
1. Online discount
A premium discount of up to 10% is applied to your first years premium when you buy a new Landlord insurance policy online including to optional covers if selected; Rent default and Flood. This discount is not applied on renewal.
A discount of up to 10% for combining Buildings and Contents covers on one policy is applied for Building and Contents, Motor Burnout and Accidental damage cover where applicable. The combined policy discount does not apply to the optional Flood or Portable Contents covers.
When you take out a new policy, we calculate your No Claims Bonus based on your home or landlords (as applicable) insurance claims history. To qualify for the maximum No Claim Bonus of 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding five years. 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. Excess reduction
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.