What our valued agent partners need to know during COVID-19
We are here to support our partners
While we had to make the hard decision to cease cover for a short time, we now have the capabilities to introduce new products in the market.
RentCover Prime is designed for apartments, units and villas where the building is insured elsewhere, and offers cover for loss of rent during repairs (but not loss of rent when a tenant breaks their lease or faces hardship), tenant damage, legal liability and insured events. Learn more.
RentCover Gold is designed for stand-alone homes and townhouses needing protection for the entire property, from the driveway to the backyard. It offers cover for loss of rent during repairs (but not loss of rent when a tenant breaks their lease or faces hardship), tenant damage, legal liability and insured events to both contents and building. Learn more.
Householders Rental is an alternative to EBM RentCover’s traditional products and offers protection for legal liability and insured events (such as fire, storm and flood) to contents and optional building. However, it does not cover tenant-related damage and loss. Learn more.
RentCover ShortTerm is designed for properties rented out for less than six months at a time, including holiday homes, Airbnb accommodation and serviced apartments. It has the option to cover both contents and building. Learn more.
FAQs for our agent partners
What is the difference between RentCover Prime and RentCover Gold?
RentCover Prime offers landlord and contents cover, whereas RentCover Gold offers the same, with the addition of building cover.
TIP: RentCover Prime is designed for apartments, units and villas where the building is insured elsewhere (e.g. through strata insurance or with another provider). RentCover Gold is designed for stand-alone homes that need protection for the entire property (from the driveway to the backyard).
Why is RentCover Ultra and RentCover Platinum still unavailable?
Due to the COVID-19 outbreak, we have had to make the hard decision to limit the amount of business we are taking on. Unfortunately the current economic climate does not allow us to continue offering rent default as a feature in our products (this is because the risk of covering this loss is too high). While we had to remove RentCover Ultra and Platinum as an offering, we do have options available that do not include rent default, including our RentCover Prime and RentCover Gold policies. We will update our clients when our offering changes. Please note, we are working hard to get our full suite of products back in the market.
Why has rent default been taken off the table?
Insurance is all about risk and it is designed to cover unforeseen events. Due to the current economic climate on the back of the COVID-19 pandemic, rent default is no longer considered an unforeseen event as the risk of it happening has increased. Because of this, the risk of covering this type of loss has also increased. We know this can be hard to understand, however the decision to halt cover on rent default is the same as halting cover on fire damage when a bushfire is imminent.
Are there any discounts available for the new products?
Does this impact my clients already covered with EBM RentCover?
It has no impact on clients who are already insured with us. Clients that already have RentCover Ultra and RentCover Platinum are still protected and their policies will continue to cover what they are designed to cover. And, we will work hard to deliver tips and information about protecting rental properties during this time (these can be found on our Info Centre). Rest assured, this also will not impact renewals.
Can landlords change from RentCover Ultra/Platinum to RentCover Prime/Gold?
Yes, if a client does not need cover for rent default, and wants to swap their current RentCover Ultra or RentCover Platinum product to one of our new offerings, they are able to do so. However, they would not be able to revert back to Ultra or Platinum until the halt on these policies is over (when this is expected to happen, we do not know).
What is the premium for the new products?
RentCover Gold premiums are dependant on varying factors including postcode, building type, building age and sum insured. Contact the EBM RentCover team on 1800 661 662 for a quote.
RentCover Prime premiums are listed below. They are fixed by state and territory and represent the cost for our standard RentCover Prime policy.
Can we upgrade from RentCover Prime/Gold to RentCover Ultra/Platinum when it is available again?
Of course! When things return to some sort of normality, and RentCover Ultra and RentCover Platinum are back on the table, we will let you know how clients can change policies (or simply add rent default as a feature to their existing policy). Please note, this change may incur an additional premium. We will let you know more, once we know more.
When will RentCover Ultra and RentCover Platinum be back?
We are in unprecedented times and we are unsure of the full extent of the situation. We will start offering our full range of products at some point, however we do not know when this is. Keep an eye on our website or Facebook page for updates.
Can I order brochures for these new products?
How do I apply for cover?
Please download the application form to apply for cover. Or, give our team a call on 1800 661 662 and they can help process it over the phone. Please note: due to these unusual times, requests for cover made via email must include a completed application form. This is to ensure we have all necessary information on hand, and to ensure clients are fully aware of the policy they are applying form.
Can we promote the new products to our database?
Yes! But all mailouts and other published marketing material need to be approved by EBM RentCover. For an approved email template which looks at the new products and their value, chat to your relationship manager.
How do I make a claim for a client?
Use our online claims portal. This allows you to you to easily tell us what happened, provide necessary quotes and invoices, upload documentation and submit a claim. Or, give the EBM RentCover team a call on 1800 661 662 and they can help.
What else do I need to know?
Payment needs to happen quickly. Our credit terms are currently 30 days however we want to make sure your clients’ policies are active and current. So, as soon as you have placed cover, you can then use our online payment system to get on top of the premium.
I still have more questions, what should I do?
If you can't find the answer you are looking for, email email@example.com.
COVID-19 and the impact on landlord insurance
While we are unable to offer you cover, you can still read our FAQ page which answers questions about how COVID-19 impacts landlord insurance.Find out more
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