Australian Unity Landlord Insurance
Compare Australian Unity landlord 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.
The table below displays a snapshot of Australian Unity’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 New South Wales.
What landlord insurance policies does Australian Unity offer?
Australian Unity offers a single landlord insurance policy, 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 (cover for rent default is offered as an optional extra)
- Cover for damage to property from natural disasters or malicious acts.
- Accidental breakage of glass
- Motor burnout cover
- Legal liability – for damage to third parties occurring on your property.
- 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 the various landlord insurance exclusions and what can cause them, see Australian Unity’s Product Disclosure Statement (PDS).
Australian Unity FAQs
Australian Unity’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 being legally evicted
- Inhabitability after an insured event such as a fire, flood, storm, tsunami or riot
- If your tenant defaults on their payment, Australian Unity can cover this as an optional extra under the home & contents policies.
The maximum Australian Unity will compensate you for lost rent is the lesser of the following:
- 12 months’ rent
- 10% of the sum your home and/or contents are insured for
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 Australian Unity’s building & contents landlord insurance policy, cover is included for the following:
- Damage caused to any buildings, sheds, garages or fences within the property line
- Damage caused by natural disasters such as fires, floods, and storms
- Damage caused by riots or civil commotions
- Accidental glass breakage
- Theft (not by tenant)
- 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 Australian Unity’s building and contents landlord insurance policy is the most common option for landlords and has contents cover included, Australian Unity also offers building cover and contents cover as separate policies. For more information about the different policies, look at the Australian Unity website.
See the PDS for more information on possible exclusions.
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 Australian Unity’s landlord insurance policy, you will generally be covered for the following defined events:
- Storm
- Flood
- Explosion
- Lightening 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.
Australian Unity’s building & contents landlord insurance does offer cover for flood damage, however please consult the PDS for information about exclusions and conditions that may apply.
Landlord insurance policies may offer additional benefits that can be added 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 Australian Unity landlord insurance policy include:
- Theft or malicious damage cover caused by the tenant or other people on your property.
- Rent default payments
- Choice of excess
For a full list of additional and optional extra, consult the PDS.
Yes, Australian Unity also offers home insurance in addition to landlord insurance. At the time of writing, the Australian Unity website has a 10% multi-policy discount available. They also have a sign up offer wherein anyone who purchases a policy by 30 June will receive a $100 Coles and Myer Gift Card.
See the difference between home and landlord insurance here.
You can purchase an Australian Unity landlord insurance policy by comparing your options with Canstar and generating a quote on the Australian Unity 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 longer than 10 minutes.
Australian Unity was founded in 1840 and employs more than 7,000 people around the country to serve almost 1 million members. In 2014, Australian Unity celebrated its 175th anniversary. Australian Unity is one of the 15 not-for-profit Members Own Health Funds in Australia, meaning profits are returned to members in the form of cheaper premiums.
Some of the benefits that Australian Unity members receive include (current as of February 2017):
- Australian Unity members have access to 10% off the cost of home and contents insurance, car insurance, landlord insurance, and travel insurance.
- Tickets with a 30% discount to see the Australian Brandenburg Orchestra.
https://www.youtube.com/watch?v=DwVsBAD2E2U
Source: Australian Unity
The Australian Unity Foundation was founded in 2006 to support the community. They are a major corporate supporter of Suited for Success, which donates business clothes to homeless people to wear to job interviews. In 2016, they launched the mental health program MindStep, and distributed more than $800,000 to support Australian communities.
