Allianz Landlord Insurance

Allianz is a provider of landlord insurance as well as car, home, travel and life insurance.

Landlord insurance caters to the needs of landlords, providing a home insurance product specifically designed to provide property owners with protection against the financial loss that may result from owning a rental property.

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The table below displays a snapshot of Allianz’s landlord insurance policies on Canstar’s database, with links to the provider’s website. Please note the products and Star Ratings displayed are based on a house in NSW.

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What landlord insurance policies does Allianz offer?

Allianz offers a single comprehensive landlord insurance policy which covers you for several key risks, including various types of damage to your home, rent default, tenant theft, and up to $10 million in legal liability cover. Allianz Landlord Insurance includes coverage of your building and contents for:

  • Fire and explosions
  • Storms, including lightning
  • Flooding (optional)
  • Malicious damage
  • Theft/burglary
  • Accidental breakage
  • Escape of liquid

Allianz Landlord Insurance does not cover you for actions of the sea, for high value items or for items away from the insured address.

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Does Allianz landlord insurance protect you from loss of rental income?

Allianz’s landlord insurance policy provides optional protection from a loss of rental income due to a variety of factors, including:

  • Default of payment
  • Departure of the tenant without notice
  • Death of a sole tenant
  • Tenant financial hardship

Allianz will pay up to $10,000 for any single event of rent default, and for a maximum period of 15 weeks. For a detailed look at the various exclusions and what can cause them, see Allianz’s Product Disclosure Statement (PDS).

See this article for a quick guide to what landlord insurance is and what it may cover you for.

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Allianz FAQs

Allianz’s landlord insurance policy offers optional cover for damage caused to your investment property by tenants or their guests. Under Allianz’s landlord insurance policy, cover can be optionally included for theft by tenant, which covers you for loss or damage to your insured buildings or contents caused by theft, burglary, or housebreaking committed by your tenant or their guests.

See the Allianz PDS for more information on possible exclusions.

Landlord insurance may also protect property owners from damage to the contents they own in their investment home. Allianz’s landlord insurance policy offers cover for contents in the following instances:

  • Fire and explosions
  • Flood cover (optional)
  • Storms
  • Accidental breakage
  • Earthquakes
  • Lightning
  • Theft and burglary
  • Malicious damage
  • Impacts
  • Escape of liquid

See the PDS for more information on possible exclusions.

Related Article: Should You Hire A Property Manager?

In insurance terms, a ‘defined event’ (also known as a ‘listed event’) on a policy is a damage-causing event which you’re insured for under that policy.

Under Allianz’s landlord insurance policy, you will generally be covered for the following defined events:

  • Fire and explosions
  • Storms
  • Tsunamis
  • Earthquakes
  • Lightning
  • Impacts
  • Escape of liquid

To see a list of exclusions that may apply, see the PDS.

Flood damage may be treated as different to storm damage by certain insurers, and as a result you may not be automatically covered for it.

Allianz landlord insurance offers optional cover for flooding damage to your building and contents, but this does not include pontoons, swimming pools or retaining walls.

Please see the PDS for information about exclusions and conditions that may apply.

Landlord insurance policies can also offer additional benefits to suit your unique needs as a landlord for an extra fee. Some of the additional benefits you may be able to add to your Allianz landlord insurance policy include:

  • Automatic indexing of sum insured
  • Extra benefits up to $5000 for environmentally friendly initiatives, such as solar panels or rainwater tanks
  • Electric motor fusion
  • Mortgage discharge costs
  • Replacement of locks

Does Allianz also offer home insurance?

Yes, Allianz also offers home insurance as well as landlord insurance. Unfortunately, Allianz does not offer any combined discounts for both policies at the time of writing.

See the difference between home and landlord insurance here.

The table below displays a snapshot of Allianz’s home and contents insurance policies on Canstar’s database. The Star Ratings are based on a policy holder under 50 years old in New South Wales and ACT for building & contents worth less than $550,000.

 

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You can purchase an Allianz landlord insurance policy by comparing your options with Canstar and generating a quote online. They will ask you some general questions about your personal details, the cover required, the details of the building, and any optional extras you might be after.

It shouldn’t take longer than 10 minutes.

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Allianz is a global insurance and financial services company founded in Germany in 1890. The company has grown to become the largest insurer in the world, with more than €900 billion in assets under management worldwide. Allianz Australia dates back to 1914, and currently provides many community initiatives and sponsorships for Australians.

The company sponsors Sydney’s famous Allianz Stadium, and has been an official supporter of the Australian Paralympic Committee since 2011. The company also runs the Young Achievers Awards in SA and NT, which recognise the achievements of regional and rural young people in a huge variety of areas.

Allianz Landlord Insurance

Canstar Research
Rating:
Award: Landlord Insurance - 3-Star Rating

House

New South Wales

2017 Star Ratings Report

Written by: Sam Bloom | Last updated: