NRMA Landlord Insurance

NRMA is a provider of landlord insurance as well as car insurance, home & contents insurance, and travel insurance.

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 NRMA’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 NRMA offer?

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

The building & contents policy covers several key risks in order 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.
  • Damage caused by natural disasters or malicious acts.
  • Damage caused by accidental glass breakage.
  • Legal liability – for damage to third parties occurring on your property.
  • 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 included on a NRMA landlord insurance policy, see NRMA’s Product Disclosure Statement (PDS).

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

  • Inhabitability after an insured event such as a fire, flood, storm or riot etc.
  • If your tenant defaults on their payment

NRMA will pay up to $5,000 in compensation in the case of rent default, and up to 12 months’ rent if your property is uninhabitable due to damage.

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 NRMA’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
  • 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 to the contents they own in their investment home.

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

NRMA’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.

Yes, NRMA also offers home insurance as well as landlord insurance. At the time of writing, the NRMA website has a multi-policy discount available, meaning that the more eligible policies you take out with NRMA, the more you may be able to save. They also 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 NRMA’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 NRMA landlord insurance policy by comparing your options with Canstar and generating a quote on the NRMA 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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NRMA Insurance was established in 1925 by the National Roads and Motorists’ Association, in order to provide car insurance to members in NSW and the ACT. In 1995, they added Queensland to the mix as well.

NRMA is the trusted insurer for millions of Australian drivers, and they employ 400 people in Queensland alone. Apart from your car, you can also insure your other vehicles: motorbike or scooter, bicycle, caravan, or boat.

You can download the NRMA Insurance App on the Apple iTunes Store or Google Play for Android.

NRMA is now part of the Insurance Australia Group (IAG), the largest general insurers in Australia and New Zealand. NRMA have created partnerships to provide car insurance in other states: with SGIC in South Australia, and with SGIO in Western Australia.

NRMA also supports their community in a number of ways including:

  • Raising awareness of child car safety and offering free child restraint safety checks
  • Supporting 150 Australian community organisations every year through their community grants program
  • Being a corporate supporter of the NSW State Emergency Service (SES)
  • Sponsoring the Brisbane Broncos

NRMA is also an environmentally friendly company. They offer a 10% discount for fuel efficient cars, have reduced their carbon footprint by 30% since 2006, have reduced their carbon dioxide equivalent emissions by 5% per year since 2009, and are a signatory to the UN Environment Program’s Finance initiative.

Written by: Regina Collins | Last updated: