CGU’s Landlords Residential Property Insurance gives you protection and peace of mind for your investment property. Whether your property is damaged by tenants, destroyed by fire, or if you’re owed rent or are liable for medical bills, we can look after you. Here are some of the other things we cover.
Accidental breakage
Cover for accidental breakage of fixed glass, basins, sinks, baths and toilets damaged by a tenant or their visitors
Water or liquid damage
Cover for loss or damage to your buildings or contents caused by water or liquid (some exclusions apply)
Vandalism or malicious acts
Cover for deliberate damage or malicious acts, like vandalism, caused by your tenants or their visitors (some exclusions apply)
Damage caused by your tenant's pets
Get up to $2,500 cover per claim for accidental damage or loss caused by your tenant’s pet
Removal of debris and demolishing costs
This cover is paid in addition to the sum insured, for up to 10% of your buildings or contents sum insured (the debris must occur as a result of an incident we agree to cover)
Burning out of an electric motor
Cover for your motor if it’s 15 years old or less
Rebuilding fees (Building only)
If your buildings suffer loss or damage and you need to rebuild it, we cover the costs for architects, surveyors and legal fees for up to 10% of your buildings sum insured (the rebuilding must occur as a result of an incident we have agreed to cover)
Loss of Rent cover (optional extra)
If your building is uninhabitable after an incident we cover, we will pay for the loss of rent for up to 12 months (up to your sum insured) (some exclusions apply)
Rent default and theft by tenant (optional extra)
Cover for the weekly rental amount your tenants should have paid, for up to $5,000 (includes GST), less any applicable excess or bond. We will also cover you (up to your sum insured) if your tenants or their visitors steal part of your building or any contents you have insured1 (some exclusions and conditions apply)
Liability cover (optional extra)
Your choice of liability cover; $5 million, $10 million, $15 million or $20 million
Are you leaving some big-ticket items in the property you’re renting out, like a fridge, couch or TV? Or is it completely empty? At CGU, you can tailor your landlords insurance to suit you – with options to add extra cover for liability, rent default or loss of rent.
Coverage for both building and contents
Our Landlords Insurance helps give peace of mind that your investment property and contents are covered.
Residential buildings
Domestic outbuildings such as garages and sheds
Infrastructure for services
Built-in swimming pools and spas
Carpets
Curtains or internal blinds
Furniture and white goods
Coverage for contents only
If your building is already insured by an owner's corporation or strata, you may want to insure just the contents of the property. We'll cover you for loss or damage to the items you've left for use by tenants (some exclusions apply).
Residential buildings
Domestic outbuidlings such as garages and sheds
Infrastructure for services
Non built-in swimming pools and spas
Carpets
Curtains and internal blinds
Furniture and white goods
Coverage for structures
If your tenants are furnishing the property, you may only want cover for the building itself. This includes items attached to the property, like awnings, but not carpets and curtains - these are considered contents.
Residential buildings
Domestic outbuildings such as garages and sheds
Infrastructure for services
Built-in swimming pools and spas
Carpets
Curtains or internal blinds
Furniture and white goods
Terms and conditions apply to all cover types so please review the Product Disclosure Statement (PDS) for full terms and conditions.
Experience counts
With 160 years of insurance experience behind us, you can trust CGU to help you out when you need it most
Simple claims process
It’s easy to make a claim with CGU. Get started any time of the day or night.
There are many factors that influence your insurance premium – from your property’s location to the materials used to build it.
The best way to get an answer is to complete our quick quote tool.
Making a claim with CGU is quick and hassle-free. You can lodge a claim any time of the day or night by calling 13 24 80. Then, you’ll be introduced to your very own claims specialist, who will support you throughout the claim.
Your investment property is likely to be one of your biggest assets, so it’s important to protect it. Imagine if the property was damaged or destroyed by fire. Without insurance, your investment income would go up in flames, too.
Also keep in mind that, if you’ve borrowed money to buy your investment property, your financial institution may say that you have to take out insurance on the property.
Loss of rent is an optional extra you can add to your policy. If you choose it, we’ll cover any loss of rent equal to the weekly amount up to 12 months following an event that makes the property uninhabitable.
To see what you’re covered for with loss of rent, please read the PDS.
As long as you take out Buildings & Contents or Buildings cover for your landlords insurance then, yes, it’s covered. This means that if a storm, fire, landslide, bungled burglary or other event causes damage to your property, we’ll cover it.
To see exactly what types of buildings we cover and what the building is covered for, please read the PDS.
Broad cover for peace of mind
If something happens and it’s not on our short list of excluded mishaps, you know you’re covered. It’s that simple.
Certainty with water-related events:
Whether the water comes from above, below or from a burst pipe, we’ve got you covered. CGU covers storm, rainwater, flood and tsunami to give you extra peace of mind2.
Rely on your rental income?
We’ll pay your rent for you if the property becomes uninhabitable after an incident we cover. You can rely on our rent for up to 12 months when you add loss of rent to your policy.
Whether you’re insuring your building, your contents or both, you choose the sum insured. This amount affects the premium but doubling the sum insured doesn't double the premium. That's because a total loss is unlikely.
The higher your excess (which is the amount you pay when you make a claim), the lower your premium will be. The level of excess is entirely up to you.
Some building materials are more prone to damage or more expensive to replace than others. A brick home, for example, will have a lower premium than a weatherboard home. Older homes cost more to insure, too.
Some areas are more prone to burglary or damage than others. CGU calculates the probability of an event occurring in your area and applies it to your premium.
Simply call 13 24 80 at any time to kick off the process.
CGU includes flood cover with Home and Landlords Insurance. This ensures all customers are covered for damage caused by water, giving you peace of mind when water damage occurs.
