Help protect your investment property with our cover
CGU’s Landlords Residential Property Insurance gives you broad protection and helps give you peace of mind for your investment property. Whether your property is damaged by tenants, destroyed by fire, or if you’re owed rent or are liable for medical bills, we can look after you. Here are some of the other things we cover.
Emergency Repairs, no hassles
Our local insurance professionals can help organise emergency repairs for your property where possible, if you can’t get there yourself.
Protection for different property types
Whether you’ve bought a house, townhouse, unit, flat, terrace house or even a unit in a retirement village, CGU offers different types of insurance to suit your needs.
Looking for the right cover?
Get a quote“Policy conditions, limitations and exclusions apply to all cover types. Please see the PDS for full terms and conditions
Accidental breakage
Cover for accidental breakage of fixed glass, basins, sinks, baths and toilets damaged by a tenant or their visitors
Water or liquid damage
Cover for loss or damage to your buildings or contents caused by water or liquid (some exclusions may apply)
Vandalism or malicious acts
Cover for deliberate damage or malicious acts, like vandalism, caused by your tenants or their visitors (some exclusions apply)
Damage caused by your tenant’s pets
Get up to $2,500 cover per claim for accidental damage or loss caused by your tenant’s pet
Removal of debris and demolishing costs
This cover is paid in addition to the sum insured, for up to 10% of your buildings or contents sum insured (the debris must occur as a result of an incident we agree to cover)
Burning out of an electric motor
Cover for motors up to 15 years old and no bigger than 3.7kW (5hp)
Rebuilding fees (building only)
If your buildings suffer loss or damage and you need to rebuild it, we cover the costs for architects, surveyors and legal fees for up to 10% of your buildings sum insured (the rebuilding must occur as a result of an incident we have agreed to cover)
Loss of Rent cover (optional extra)
If your building is uninhabitable after an incident we cover, up to 12 months, up to the sum insured chosen
Rent default and theft by tenant (optional extra)
Cover for the weekly rental amount your tenants should have paid, for up to $5,000, less any applicable excess or bond. We will also cover you if your tenants or their visitors steal part of your building or any contents you have insured 1 (some exclusions and conditions apply).
Liability cover (optional extra)
Your choice of liability cover; $5 million, $10 million, $15 million or $20 million
1 If you took out a new policy from 28 March 2020 to 18 June 2021, you were unable to purchase the rent default optional benefit. You may be able to purchase this optional benefit on renewal. Contact us on 13 24 81 for more information.
Compare Landlords Insurance
Are you leaving some big-ticket items in the property you’re renting out, like a fridge, couch or TV? Or is it completely empty? At CGU, you can tailor your Landlords Insurance to suit you – with options to add extra cover for liability, rent default or loss of rent.
Terms and conditions apply to all cover types so please review the PDS for full terms and conditions.
There are many factors that influence your insurance premium – from your property’s location to the materials used to build it.
The best way to get an answer is to use our quick quote tool.
Making a claim with CGU is quick and hassle-free. You can lodge a claim any time of the day or night by calling 13 24 80. Then you’ll be introduced to your very own claims specialist, who will support you throughout the claim.
Your investment property is likely to be one of your biggest assets, so it’s important to protect it. Imagine if the property was damaged or destroyed by fire. Without insurance, your investment income would go up in flames, too.
Also keep in mind that if you’ve borrowed money to buy your investment property, your financial institution may say that you have to take out insurance on the property.
You have the option to choose cover for loss of rental income equal to the weekly amount as stated on your rental agreement for up to 12 months.
To see exactly what you’re covered for with loss of rent, please read the PDS.
As long as you take out Buildings and Contents or Buildings cover for your landlords insurance then, yes, it’s covered. This means that if a storm, fire, landslide, bungled burglary or other covered event causes damage to your property, we’ll cover it.
To see exactly what types of buildings we cover and what the building is covered for, please read the PDS.
Landlords Insurance is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance. In offering these products, The Capricornian acts under its own Australian Financial Services Licence and under an agreement with the insurers, CGU. This is general information only and does not take into account your individual objectives, financial situation or needs (‘your personal circumstances’). In arranging this insurance The Capricornian Limited acts as an intermediary for CGU, not as your agent. The Capricornian Limited does not guarantee any claim or benefit payable under the insurance policy. We receive commission on insurance products details can be found in our Conditions of Use brochure. Before making decisions about any of these insurance products you should consider the appropriateness of the information having regard to your circumstances and the applicable Product Disclosure Statement (PDS) and Target Market Determination (TMD) available at any Capricornian branch or by calling 1300 314 900. The Capricornian Ltd ABN 54 087 650 940 AFSL / ACL No. 246780.
