HSBC Landlord Insurance

HSBC is a provider of landlord insurance as well as car insurance, life insurance, home & contents insurance, home loans, credit cards, savings accounts, travel insurance and online banking.

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

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The table below displays a snapshot of HSBC’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 HSBC offer?

HSBC offers three  landlord insurance policies – building & contents insurance, buildings insurance, and contents insurance.

The building & contents policy with extras 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 (available on building insurance policies)
  • Cover for damage caused by natural disasters or a malicious act.
  • Accidental glass breakage
  • Legal liability – for damage to third parties occurring on your property.
  • Contents including gurniture 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 HSBC landlord insurance policy, see HSBC’s Product Disclosure Statement (PDS).

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

  • Inhabitability after an insured event such as a fire, flood, storm, tsunami or riot (up to 52 weeks of rent cover)
  • If your tenant defaults on their payment (optional extra)

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 some cover should damage be caused to your rental property by tenants or their guests.

Under HSBC’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
  • Damage caused by accidental glass breakage
  • Theft (not by tenant, theft by tenant available as an optional extra)
  • Damage caused by malicious acts on the part of 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 HSBC’s building and contents landlord insurance policy is the most common option for landlords and has contents cover included, HSBC also offers building cover and contents cover as separate policies. For more information about the different policies, look at the HSBC 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 HSBC’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

HSBC will charge an additional $250 for a claim on damage caused by tsunami or earthquake if the damage occurred within 72 hours of the start date of your policy.

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.

HSBC’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 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 HSBC landlord insurance policy include:

  • Rent default and theft by tenant
  • Death of a sole tenant
  • Departure of the tenant without notice
  • Legal expenses
  • Landlord Worker’s Compensation

For a full list of additional and optional extras available, consult the PDS.

Yes, HSBC also offers home insurance as well as landlord insurance. At the time of writing, the HSBC website does not have a multi-policy discount available; however, they offer up to a 30% No Claim Bonus discount for landlords who don’t make regular claims.

See the difference between home and landlord insurance here.

The table below displays a snapshot of HSBC’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 for building & contents worth less than $550,000.

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You can purchase a HSBC landlord insurance policy by comparing your options with Canstar and generating a quote on the HSBC website. 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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HSBC was founded in 1865 in Hong Kong to finance trade between Asia and Europe. 100 years later, they moved into Australia in 1965 and gained their commercial banking licence in 1986.

HSBC is now one of the world’s largest banking and financial institutions, serving 48 million customers around the globe, and 6,000 offices in 71 countries. They aim for sustainability through the Climate Business approach, and support leading charities that focus on education, the environment, and health.

“How to” guides are available for customers, and if these don’t have the answers you’re looking for, you can chat online live with help centre members.

Written by: Regina Collins | Last updated: