Property Owner Insurance Policy Australia: Protect Your Assets

You want clear cover for your rental and investment assets, with an easy way to get a fast quote and avoid surprises. This guide shows how your cover typically protects home and contents for defined event risks and how the sum insured caps rebuild or replacement benefits.

We’ll explain the role of documents such as the PDS, PEDG and FSG so you can check the fine print before you decide. You’ll learn what to expect at claim time and practical steps to tailor cover and avoid out-of-pocket loss or damage.

Get clarity fast: see examples of covered events, optional extras and the documents you’ll need, or visit Property & Asset Insurance details to read product information and get quote options.

Why choose landlord insurance to protect your investment property

When you lease a home, specialist landlord cover fills gaps standard cover often misses.

You get extra protection for loss of rent, tenant-caused damage and legal liability. This helps keep cash flow steady if the unexpected happens. A PDS, PEDG and FSG explain the product details and conditions.

"Landlord cover is designed for rented homes and the items you supply to tenants, such as carpets and appliances."

1. Cover for loss of rent and tenant-related damage to contents and fixtures.
2. Legal liability assistance if a tenant or visitor is injured and you are found responsible.
3. Options to set excesses and limits so you balance premium and protection.

Hollard Insurance Partners Limited underwrites the cover and distribution is via Commonwealth Bank. Neither Commonwealth Bank nor its related bodies corporate guarantee payment of any claim. Read the PDS before you decide and see a plain guide on what is landlord insurance or explore low-cost rental cover.

What’s covered: insured events that protect your home and contents

Know which defined events give you cover so you can handle damage and loss with confidence.

Insured events list the incidents that typically trigger a claim. Common events include storm, flood and storm surge, but storm surge is only covered when it happens at the same time as a covered storm.

Fire, lightning and power surge

Fire and bushfire cover extends to heat, ash, soot and smoke from a nearby blaze. Lightning claims and power surge repairs usually need confirmation from a qualified repairer before replacement is approved.

Theft, escape of liquid and impact

Theft or burglary cover often includes attempted theft where damage occurs even if nothing is taken. Escape of liquid covers sudden leaks from fixed pipes or appliances.

Impact damage from falling trees, poles or vehicles is included, and damage by an animal is covered in many cases, though exclusions apply for pests, vermin and your own pets.

"Check time limits and waiting periods some events like bushfire, storm or flood can have a 72-hour waiting period at the start of cover."

1. Explosion, riot, malicious acts and vandalism cover for damage caused by deliberate or violent events (excluding the container or item that exploded).
2. Earthquake and tsunami recognised events with specific claim windows and conditions.
3. Always read the PDS for claim limits, special item limits and any other exclusions before you commit.

For tailored cover and more detail on contents and loss limits, see this student apartments guide.

Landlord insurance cover tailored to you

When the unexpected happens, a tailored landlord solution keeps rent flowing and reduces repair stress.

Loss of rent settings

Loss rent is paid only for gaps caused by an insured event. The first four weeks of unpaid rent are not paid. With a written rental agreement, the most payable is 14 weeks or up to $5,000.

Loss or damage caused by tenants

Cover extends to malicious acts by a tenant and helps fix the home and contents used for renting. Keep inspection records and a current rental agreement—claims may be denied if rent was in arrears when cover began.

Legal liability

Legal liability helps if a tenant or visitor is injured or their belongings are damaged and you are found responsible. It can include defence costs and certain compensation, subject to the policy limits.

Optional extras and conditions

• Accidental damage and emergency work/temporary repair are not available under contents when you buy landlord insurance.
• Adjust contents limits for appliances, carpets and blinds to match actual risks.
• Set excess levels to balance premium and cash flow; read the product disclosure statement for full conditions and exclusions apply.

Building vs contents: choosing the right insurance cover

Choosing the right mix of building and contents cover begins with a clear inventory and realistic rebuild estimate.

Building and contents: what’s included under each

Building cover protects the home structure: foundations, walls, roof and fixed fixtures.

Contents cover protects the items inside, such as furniture, appliances and landlord-supplied items for tenants.

Sum insured, replacement costs and safety net protection

Get your sum insured right so rebuild and replacement costs are fully met. Include professional fees, debris removal and compliance upgrades where covered.

Safety Net examples show some products add a percentage on top of the home sum insured to help with cost overruns after major events.

Using a calculator to estimate your sums insured

Use a calculator to estimate sums and avoid being underinsured. Review figures annually and record major purchases to keep estimates accurate.

Strata considerations and discharge of mortgage costs

For strata titled homes, the owners corporation often covers part of the building while your contents remain your responsibility.

Certain products may pay discharge of mortgage costs when a claim payout clears your loan. Check the PDS for limits and exclusions.

property owner insurance policy Australia: key conditions and exclusions

Clear rules shape when cover starts and what won’t be paid after loss or damage caused by weather or other incidents.

Initial 72-hour waiting period

From the day your cover starts, there is usually a 72-hour waiting period for bushfire, storm, rainwater and flood. Claims during this window are commonly declined, so arrange cover before forecast severe weather.

Events and items not covered

Certain events are excluded. Actions of the sea and a standalone storm surge are generally not covered unless a storm causes them at the same time.

Some structures such as retaining walls, jetties and pontoons may be excluded from flood cover. Check limits for contents and building components so you know the caps that apply.

Read the Product Disclosure Statement, PEDG and FSG

Get the product disclosure statement and the PEDG and FSG from your provider. The product disclosure sets out events covered, special limits and conditions. The PEDG explains premiums, excesses and how benefits change over the years. The FSG shows how advice and remuneration work, helping you decide if this landlord insurance suits your needs.

• Double-check definitions of storm and flood in the documents.
• Confirm any maximum claim limits so you avoid surprises after a claim.

Pricing, discounts and online offers to help manage cost

Practical savings make a real difference to your annual cost and peace of mind.

Combine building and contents cover to unlock common savings. If you buy combined Landlord Building and Contents Cover, you may get up to a 10% discount on the annual base premium. This is applied before taxes and charges, can’t be backdated and may change at renewal.

How discounts and online offers work

Some brands also offer a first-year online discount, for example a fixed amount off when you buy online. Discounts often can’t be stacked, so check the product documents before you get quote.

• Multi-cover saving: up to 10% off the base premium for combined covers.
• Renewal changes: discounts may vary or stop at renewal.
• Balance savings and limits: trimming cover to cut cost can leave gaps that affect your rent income after a loss.

Get a few quotes with different excess and cover settings to compare real premiums. Keep receipts and valuations for major items to support accurate pricing and smoother claims if you need to rely on the product.

Making a claim and getting support when events happen

If your home or contents suffer loss, knowing how to make claim saves time and stress.

Start a claim as soon as practical. Have your policy number, clear photos of the damage, dates and a short description of the event ready.

How to make a claim and what you’ll need

Gather tenant details if relevant, rental agreements and entry/exit reports. Add invoices or quotes for urgent repairs you’ve arranged.

Answer assessor questions promptly. You’ll be guided through contents checks, building inspections and any legal liability issues if someone was hurt or a neighbour suffered damage caused by the incident.

General Insurance Code of Practice and how it protects you

Hollard is a signatory to the General Insurance Code of Practice. The Code sets clear standards for timely claims handling, fair complaint processes and improved customer service.

• Lodge claims quickly to help with authorised repairs or temporary accommodation.
• If you’re unsure what’s covered, ask before repairs proceed to avoid disputes about cover loss entitlements.
• For complex matters, keep a log of calls and emails; it helps if your claim is reviewed or escalated.

If you want more practical steps on how to make a home claim, see how to make a home insurance or read about affordable renters coverage for renters and landlords.

Who we partner with and how our policy is distributed

There is a clear split of roles so you know who does what. Hollard underwrites the product and Commonwealth Bank handles distribution and customer access. This makes it easier for you to buy, manage and ask questions about cover.

Hollard as the insurer, distributed by Commonwealth Bank

Hollard Insurance Partners Limited (ABN 96 067 524 216, AFSL 235030) underwrites the cover. The product is distributed by Commonwealth Bank of Australia (ABN 48 123 123 124, AFSL 234945).

Commonwealth Bank does not guarantee Hollard’s obligations or claim payments. CBA may receive a commission if a product is issued. These arrangements are explained in the Financial Services Guide and the disclosure statement.

Target Market Determination and compliance

The product disclosure statement, PEDG and FSG are available online or by phone so you can compare features and limits. The Target Market Determination shows who the product is designed for and helps you check that the cover matches your needs.

• Underwriter: Hollard manages underwriting and claim decisions.
• Distributor: Commonwealth Bank handles sales and customer support channels.
• Documents: Read the product disclosure statement and disclosure statement before you commit.

Knowing these roles helps you focus on protecting your home and contents while making informed choices. If you have questions, ask for the PDS and the disclosure statement before you buy.

Ready to get a quote and protect your property today

Start a quick quote to check sums, set limits and avoid underinsurance before the next storm or tenant change.

When you get quote, use an online calculator to estimate your sum insured for building contents and the home. Remember loss of rent rarely pays the first four weeks and may cap at 14 weeks or $5,000 with a written rental agreement.

Check waiting periods (for example a 72‑hour wait for bushfire, storm or flood) and exclusions like actions of the sea or excluded structures. Review the product disclosure statement and disclosure statement so you know limits, waiting periods and legal liability cover.

Compare costs, confirm discounts and then get quote and lock in cover today. For home insurance options, see home insurance.