SGUA Landlord Insurance

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SGUA is a provider of landlord insurance as well as holiday home and holiday unit 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 certain aspects of owning a rental property.

What landlord insurance policies does SGUA offer?

SGUA offers two landlord insurance policies: Landlord Protection and Landlord Extra Protection. Landlord Protection covers you for various types of damage to your building and contents, while Landlord Extra Protection is more focused on contents cover.

SGUA landlord insurance offers two levels of coverage on its policies: Value and Value Plus. In addition to its landlord insurance policies, SGUA offers cover for Holiday Home and Holiday Unit policies for holiday home owners.

SGUA landlord insurance includes coverage of your building and contents for:

  • Defined events such as fire, explosion, lightning, theft, water damage, storm and flood damage
  • Loss of rental income (optional)
  • Mortgagees protection (optional)
  • Up to $20 million in legal liability cover
  • Deliberate damage and theft by tenant
  • Tenant default

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

  • Gradual deterioration including rust, wear and tear
  • Inherent defects
  • Lack of maintenance
  • Animals, vermin or insects
  • Asbestos

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

Canstar does not currently compare SGUA Landlord Insurance, but you can compare other providers on Canstar’s database:

Compare Landlord Insurance

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

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

  • Where the building or contents is so damaged by a defined event (such as fire, flood, storm) that it becomes untenable
  • Tenant default including default in payment of rent, tenant leaving building without notice and death of tenant

Where the loss of rent is due to a defined event, SGUA will cover you for loss up to a maximum of 52 weeks’ rent. In the case of tenant default, SGUA will cover you up to 15 weeks’ rent.

Keep in mind that this coverage may only be available if added to your policy as an optional extra. Check the PDS for more information on possible exclusions.

Compare Landlord Insurance

SGUA Landlord Insurance FAQs

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

Under SGUA landlord insurance, cover is included for:

  • Damage caused to any buildings, gates, fences
  • Damage caused by natural disasters such as fires, floods and storms
  • Damage caused by riots or civil commotions

SGUA’s Landlord Protection policy offers more cover for damage caused to the building itself than the Landlord Extra Protection Policy which is focused on contents cover.

 

Please check 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. This includes any furniture and household goods that are in the property for the use of the tenant.

SGUA landlord insurance offers cover to protect a landlord’s content from events like water damage, accidental damage and malicious damage.

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.

SGUA landlord insurance generally covers you for the following defined events, including:

  • Fire, explosion or lightning
  • Earthquake and tsunami
  • Theft
  • Water damage
  • Glass breakage
  • Malicious damage
  • Accidental damage (only on Value Plus policies)
  • Storm
  • Flood
  • Impact
  • Riot or civil commotion
  • Electrical breakdown/fusion

SGUA will generally not cover damage caused by bushfire, grassfire, named cyclone or flood that occurs within 72 hours of the policy being taken out.

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.

SGUA’s says its Landlord Protection and Landlord Extra Protection policies cover damage to your building and contents caused by flood damage. Check the PDS for information about exclusions and conditions that may apply.

Landlord insurance policies may also 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 SGUA landlord insurance policies include:

  • Loss of rental income due to a defined event
  • Mortgagees protection

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

No, SGUA specialises in providing insurance products for rental properties and holiday homes.

You can purchase SGUA landlord insurance by getting a quote on the SGUA website.

St George Underwriting Agency (SGUA) is an underwriting agent that was established in 1991. SGUA says it specialises in insurance products for full-time residential investment properties, holiday homes, resort units and short-term rental houses, apartments and units.

Compare landlord insurance policies on Canstar’s database

If you’re looking to compare your options, check out the table below which includes a snapshot of the landlord insurance policies on Canstar’s database based on a landlord insuring a house in NSW, with links direct to the providers’ website. The products shown are sorted by Star Rating (highest to lowest) and then by provider name (A-Z). Before committing to a particular landlord insurance policy, check upfront with your provider and read the PDS to confirm whether it meets your needs.

Written by: Tamika Seeto | Last updated: March 13, 2019