Apia Landlord Insurance

Apia is a provider of landlord insurance as well as car insurance, home & contents insurance, health insurance, and travel 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 Apia’s landlord insurance policies on Canstar’s database. Please note the products and Star Ratings displayed are based on a house in New South Wales.

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What landlord insurance policies does Apia offer?

Apia offers a single landlord insurance policy, which covers several key risks to ensure peace of mind for both tenants and landlords, including:

· Cover for loss of rent – both for inhabitability after an insured event and if your tenant defaults on their payment.

· Property cover from natural disasters or malicious damage.

· Accidental breakage of glass

· Motor burnout cover

· Theft

· Legal liability – for damage to third parties occurring on your property.

· Damage to contents including furniture and furnishings

· Keys and locks

Exclusions may apply when it comes to making a landlord insurance claim. Some common exclusions include:

· Gradual deterioration, neglect, lack of maintenance, structural failure or general wear and tear

· Pre-existing damage

· Any costs associated with the cleaning up or removal of asbestos

· Vermin or insects

· Invasion or war

· Erosion

· Any damage done during repairs or alterations being carried out on the house

For a detailed look at what may not be covered under an ANZ landlord insurance policy, see Apia’s Product Disclosure Statement (PDS).

Apia FAQs

Apia’s landlord insurance policy may protect you from a loss of rental income due to a variety of factors, including:  

  • Your tenant leaving before the end of the tenancy period without notice  
  • Your tenant dying (if they are the sole tenant) 
  • Inhabitability after an insured event such as a fire, flood, storm, tsunami or riot 

Apia will pay up to 52 weeks of rent to compensate for loss of rent following an insured event, and up to 12 weeks rent in the event of loss of rent due to prevention of access.  

Additionally, if your tenant stops paying rent but does not leave, or leaves without giving notice during the period of insurance, Apia will pay: 

  • Up to 14 weeks of rent if you have a written rental agreement 
  • Up to 2 weeks of rent if you have a periodic rental agreement. 

See the PDS for more information on possible exclusions.  

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

 

A landlord insurance policy may provide you with cover should damage be caused to your rental property by tenants or their guests.  

Under Apia’s building & contents landlord insurance policy, cover is included for the following:  

  • Damage caused by natural disasters such as fires, floods, and storms 
  • Damage caused by riots or civil commotions 
  • Damage caused by accidental glass breakage 
  • Damage caused by theft  
  • Malicious damage caused by either a tenant or their visitors  

See the PDS for more information on possible exclusions.  

 

Landlord insurance can also protect property owners against damage that can occur to any contents they own in their investment home.  

While Apia’s building and contents landlord insurance policy is the most common option for landlords and has contents cover included, Apia also offers building cover and contents cover as separate policies. For more information about the different policies, look at the Apia website.  

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

  • Storm  
  • Flood 
  • Explosion  
  • Lightning or thunderbolt  
  • A falling tree or branch 
  • A riot or civil commotion  
  • Earthquake  
  • Fire 
  • Malicious damage 

To see the full list of defined events, see the PDS.  

 

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

Apia’s landlord insurance policy does offer cover for flood damage, however please consult the PDS for information about exclusions and conditions that may apply.  

Yes, Apia also offers home insurance as well as to landlord insurance. At the time of writing, the Apia website doesn’t state any multi-policy discounts, however they currently have a 15% discount when you sign up and get a quote online.  

See the difference between home and landlord insurance here. 

You can purchase an Apia landlord insurance policy by comparing your options with Canstar and generating a quote on the Apia website. They will ask you some general questions about your details, the cover required, the details of the building, and any optional extras you might be after.  It shouldn’t take you longer than 10 minutes.

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Apia is one of Australia’s leading insurance and financial services brands, forming part of the Suncorp Group. 

Apia’s story began over 25 years ago, with the goal of providing the best possible insurance products and service to Australia’s Over 50s seniors. 

Apia now has more than 700,000 customers around the country, with over 450 staff across the various branches. 

You might like Apia’s “We know you know” ad campaign series on YouTube. APIA also has a great video that answers questions such as, “Are our perceptions of age distorted?” 

https://www.youtube.com/watch?v=b7aB3iv6Jnk  

Source: Apia Australia 

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Written by: Regina Collins | Last updated: March 13, 2018