Landlord, contents and building insurance

RentCover Platinum

rentcover platinum

Protecting properties inside and out

RentCover Platinum is designed for stand-alone homes and townhouses needing cover for the entire property, from the driveway to the backyard. And for those who want their landlord, contents and building insurance combined under one policy.

Product features

What’s covered?

Click on the features below to learn more about cover, limits and excesses. For all other insured events not listed, a $500 excess applies.

Loss of rent makes up around two-thirds of landlord insurance claims at EBM RentCover.

We offer cover:

when a tenant stops making payments due to hardship
after the death of a tenant
when a tenant leaves the property unexpectedly
when a tenant refuses to leave a property and a court order is required for possession of the property
during repairs.

When a tenant defaults or absconds, breaks lease or experiences hardship, a specialised landlord insurance policy proves a wise investment. At EBM RentCover, we help landlords avoid the financial and emotional stress that comes with being out of pocket, by offering up to six or 52 weeks cover for loss of rent (standard cover is limited to a maximum of $1,500 per week).

Loss of rent (rent default or when a tenant leaves the property unexpectedly) is covered up to six weeks.
Loss of rent (after the death of a tenant, during repairs and when a property is unable to be accessed) is covered up to 52 weeks.

If your property is rented out at more than $1,500 per week, we can still offer cover up to $4,000. Chat to us about how this works.

Protection for lost rent when a tenant disregards an eviction notice and refuses to leave the property after is has expired.

If a tenant has been told to move out and isn’t budging, then it’s very unlikely they are paying rent. In these circumstances, no money is coming in from those living at the property and as a landlord or property manager, you can’t get another tenant in either.

When a tenant is refusing to leave, and the property is protected by landlord insurance, claims can often be submitted for loss of rent due to denial of access. Clients can claim on this section of the policy after a notice to vacate has expired (this is the case at EBM RentCover, however some landlord insurance providers may insist the tenant has to have been served with an order by a court or tribunal for eviction or possession before you can claim).

RentCover Platinum provides up to 52 weeks’ protection for loss of rent (standard cover is limited to a maximum of $1,500 per week) when a tenant refuses to leave the property and a court order is required for possession. A claim can be submitted for this period after the expiry of a termination notice. For more info, read this.

If your property is rented out at more than $1,500 per week, we can still offer cover up to $4,000. Chat to us about how this works.

NOTE: Not all landlord insurance policies have this as a standard inclusion, BUT it is standard in RentCover Ultra and Platinum policies.

Protection for lost rent after the death of a tenant, including murder and suicide.

In an ideal world, no agent or landlord would ever be confronted with the death of a tenant at a rental. Sadly, the reality is that many will have to deal with just that eventuality. Whether a lone tenant simply passes peacefully in their sleep, or the death is far more traumatic, it is best to be prepared.

EBM RentCover offers up to 52 weeks protection for loss of rent (standard cover is limited to a maximum of $1,500 per week) after the death of a tenant, including murder and suicide.

If your property is rented out at more than $1,500 per week, we can still offer cover up to $4,000. Chat to us about how this works.

NOTE: Most landlord insurance policies will respond to claims relating to tenant death, but there are varying levels of cover, inclusions and exclusions. Unlike EBM RentCover, some insurers may not cover damage, while others may not cover rental losses.

Covers tenant damage to fixed contents and building, including intentional, malicious and accidental damage.

Some insures only cover one type and others (like us) cover three types of tenant damage to fixed contents and building:

Accidental – the result of sudden, unexpected or unforeseen events (such as a child scribbling on the walls with a permanent marker).
Malicious – caused on purpose with intent to do harm, motivated by vindictiveness or spite with the aim of damaging the property (such as punching a hole through a door).
Intentional – the result of an act carried out without permission but without malice, and with the full knowledge the action will alter the current state of the property (putting picture hooks in walls or painting a wall a different colour).

NOTE: We often get claims for wear and tear. However, wear and tear is something that just happens over time with normal use of the property – something that has not been caused intentionally, or by misuse or abuse. Because wear and tear is expected and considered normal maintenance, it is not covered by landlord insurance.

Excess: $400 per claim for malicious tenant damage. Or, $400 per event for accidental and intentional tenant damage (capped at two). This means, if a tenant’s kid accidentally draws on the walls and a tenant also paints a room a different colour, they would be treated as two separate events and two excesses would apply.

Covers damage to fixed contents and building caused by a tenant’s domestic pet kept at the property, including those not named on the lease.

Many landlords and property managers are hesitant about allowing pets in investment properties because of the potential damage. However, with the right cover in place, landlords and property managers can claim should something go wrong.

EBM RentCover offers cover for damage to fixed contents and building caused by a tenant’s domestic pet kept at the property, including those not named on the lease.

Case in point: pet damage – $12,494.70. An EBM RentCover policy once paid out close to $12,500 to one landlord, after it was discovered a pet dog had urinated all over the investment property. The funds were used to restore the property including disposing of carpets, painting and balcony rendering.

Excess: $400 per event (capped at two). This means, if your furry friend chews through a door in one room and then tears up the carpet in another, they would be treated as two separate events and two excesses would apply.

Covers damage to contents and building caused by meth labs and hydroponic set-ups.

Within the privacy of their rented four walls, some tenants are secretly growing and manufacturing illicit drugs including cannabis, methamphetamine, ecstasy and GHB. Thankfully EBM RentCover offers cover for damage to contents and building caused by meth labs and hydroponic set-ups in investment properties.

Case in point: drug lab clean-up – $65,000 (+ $9,000 for loss of rent). After the property manager was notified police had raided the house and found a hydroponic set-up, an inspection revealed holes cut in the walls and ceilings throughout the home. There was vent tubing, additional wiring and chains hanging from the ceilings – and hundreds of empty pots. The main power supply had also been altered and the home had been flooded, destroying the flooring. The policyholder received a payout of $65,000 plus an additional $9,000 for loss of rent (note: EBM RentCover offers up to 52 weeks cover for loss of rent in these situations).

EBM RentCover is one of few specialist landlord insurers providing protection for drug lab clean-up.

Covers theft, impacting both building and fixed contents.

Theft extends to such things like fittings and awnings (we once paid out $990 to a client after their tenant pinched the ceiling fans), however it does not cover cash.

Plus, there are a few safeguards landlords and property managers need to put in place to make sure the cover isn’t void, including making sure all doors have working locks. You can check out our PDS here to find out more.

NOTE: This cover does not extend to the tenant’s belongings. If your tenant wants to protect their contents, they need their own insurance policy. It also does not extend to non-fixed items supplied by the landlord (e.g. furniture and whiteware), however the landlord can request this type of cover at an additional cost.

Excess: $400 if theft occurs by the tenant. Or $500 if theft occurs by someone not named on the lease.

Protection when Mother Nature causes damage to the building.

The right insurance policy means owners can protect their investment, at least financially, against a range of extreme weather events. RentCover Platinum offers cover for damage to the building caused by Mother Nature, including: bushfire, storm, flood, earthquake, tsunami and cyclone.

When planning insurance, check if your policy includes the events that are most likely to happen at your property.

NOTE: Some environmental conditions are uninsurable, for example when the damage or loss does not result from a single ‘insured event’, such as in cases of coastal erosion where the problem develops over time.

Not sure what the ‘sum insured’ is? No worries! It is the full cost to rebuild your home in the event of a total loss and covers the removal of debris. You determine and tell us the sum insured at the time of application.

Protection when Mother Nature causes damage to contents.

When planning insurance, check if your policy includes the events that are most likely to happen at your property.

Covers damage to the structure of the building by fire or explosion, including arson by the tenant.

Fire damage is an important feature in most landlord insurance policies and can protect an investment if: an electrical appliance fails, a candle ignites the room, a bushfire consumes a neighbourhood or a tenant sets fire to the property (arson).

NOTE: Bushfire cover does not kick in until 72 hours after the policy has been placed. This means, if a bushfire occurs within 72 hours of the policy being purchased, the damage will not be covered.

We know it can be tough to navigate the claims process when Mother Nature strikes, so here you will find tips for submitting successful claims when an investment property is impacted by a bushfire.

Covers damage to contents by fire or explosion, including arson by the tenant.

We know it can be tough to navigate the claims process when Mother Nature strikes, so here you will find tips for submitting successful claims when an investment property is impacted by a bushfire.

Covers damage to the structure of the building by water, including from overflowing basins and bursting pipes.

Sometimes water damage occurs out of nowhere and can cause significant damage and even more frustration. If you have the right insurance in place, you don’t need to drown your sorrows when a property is inundated with water. EBM RentCover can cover damage to contents by water including from bursting pipes, overflowing basins or baths (must be fixed in place), roofs leaking, sewerage discharging and water suddenly escaping from a waterbed or aquarium.

NOTE: Most insurers do not cover water damage which has occurred gradually over time (e.g. mould), or corrosion. This is because it is something that could have been prevented and most landlord insurance policies state that all must be done to prevent future damage and loss.

EBM RentCover can cover damage to contents by water including from bursting pipes, overflowing basins or baths (must be fixed in place), roofs leaking, sewerage discharging, and water suddenly escaping from a waterbed or aquarium.

NOTE: Most insurers do not cover water damage which has occurred gradually over time (e.g. mould, or corrosion). This is because it is something that could have been prevented and most landlord insurance policies state that all must be done to prevent future damage and loss.

Protects against damage created by electrical currents or wiring.

Fusion is the burning out of an electric motor or its wiring which is caused by an electric current. EBM RentCover offers protection for this sort of damage to select items and will pay the cost of rewinding the motor or replacing it (if it is less than 15-years-old).

Protection when you are found legally liable for an incident, including tenant injury.

If a landlord fails to provide a safe environment for tenants, they can be sued for compensation by the person who is injured. And those costs and compensation payouts can stretch from tens of thousands to hundreds of thousands or even millions of dollars once medical costs, loss of income and pain and suffering are factored in.

That is why EBM RentCover landlord insurance offers protection when you are found legally liable for an incident, including tenant injury.

DID YOU KNOW??… One personal injury claim in Australia for one person was an eye-watering $19 million – and half of that was legal costs! That’s why the legal liability limits set out in landlord insurance policies are in the millions.

Covers court and tribunal fees for loss of rent claims.

We hope your tenancy is a breeze, however, when it does go wrong there can be lengthy and costly legal disputes.

When a tenant is in arrears or does something wrong at the property, you may need to go to court or tribunal to sort out disagreements. If this happens in relation to loss of rent (we only offer this protection in relation to loss of rent), you may find it useful to have landlord insurance cover that extends to legal expenses.

Covers costs of an audit in connection to the ownership of the insured property.

EBM RentCover will cover costs of an audit in connection to the ownership of the insured property. This means, during any one period of insurance, if there is an investigation into a return lodged with the Commissioner of Taxation in relation to an investment property insured with us, we will cover up to $1,000 per audit (if more than one audit occurs, we will pay out a maximum of $2,000 combined).

*Please note, you must pay the excess for ALL features you are claiming for. For example, if you are claiming for loss of rent, malicious tenant damage and water damage to contents, the excess is $0 + $400 + $500 = $900 total.

Get a quote or call today

Get a quote or call1800 661 662

RENTCOVER ultra

Don’t need building cover?

Our RentCover Ultra policy offers protection not typically covered in standard home and contents policies. It’s designed for apartments, units and villas where the building is already covered by body corporate, or stand-alone homes where the building is insured separately.

RentCover Ultra

our difference

Why choose EBM RentCover?

We educate

Our team works to equip landlords with the tools and knowledge needed to reduce tenant-related risks, and works closely with the real estate industry to highlight the value of landlord insurance.

We are efficient

When a claim is submitted, it is assigned a dedicated claims specialist who aims to work on it from start to finish. Plus, a real person (not a machine) answers calls.

We are quick

Our team aims to settle most claims within five working days, assuming we have all the information we need from you.

We make it easy

When it comes to making a claim, we make it easy. As a client, you have access to an online portal where you can upload all documentation and simply submit, review and process a claim.

DOWNLOADS

Policy documents

RentCover Ultra Product Disclosure Statement (PDS) EBM RentCover Financial Services Guide (FSG)

MAKE A CLAIM

Making a claim is easy

We invest in innovative technologies to help provide excellent client support from cover to claim. Our online claims portal allows you to easily tell us what happened, provide necessary quotes and invoices, upload documentation and submit a claim.

Make a claim

FAQS

Landlord insurance – frequently asked questions

Home and contents policies typically offer protection for insured events such as fire and storm. However, they often do not cover loss of rent and tenant damage. It is recommended landlords find a specialist insurance policy offering extra protection not covered in standard home and contents policies.

Example: A tenant suffers a job loss and stops paying rent for six weeks before unexpectedly moving out of the property. Upon inspection, it was discovered there was malicious damage to the walls, including two large holes in the hallway. Check out the below table to find out what typically is and isn’t covered in different policies…

	Landlord insurance policy	Basic (entry-level) home and contents policy
Rent default up to six weeks	Typically covered	Unlikely to be covered
Loss of rent during repairs	Typically covered	Unlikely to be covered  (unless damage is due to an insured event)
Malicious damage	Typically covered	Unlikely to be covered

No. The amount of cover and limits offered varies from insurer to insurer. That’s why it’s important to choose the right landlord insurance policy to protect an investment and reduce the risk of financial and emotional stress. Landlord insurance often offers cover for four main areas: tenant damage and loss of rent, contents insurance, building cover and legal liability. Depending on your property and requirements, you may need a policy that covers ALL four, or only one.

Even the best property manager can’t control or predict a tenant’s relationship breakdown or job loss, or an attack by Mother Nature, which is why it’s important to invest in extra protection.

Example: A tenant was living in a property for more than five years and built a strong relationship with their property manager. To save money, the property manager decided to cancel the insurance on the property because the tenant had a perfect record of paying rent on time. Unfortunately, two months later, the tenant lost their job and income. The first thing the tenant stopped paying was rent. What was meant to be a cost-saving decision, turned into an expensive mistake.

If you own an apartment, villa or unit (a strata titled property), the body corporate may insure the building and common areas in the property – including common hallways, garden and driveway. Because these are covered through the body corporate, many landlords assume they don’t need to purchase landlord insurance themselves – this is not the case. The body corporate does not offer protection for unit contents including non-fixed appliances, furniture and electronics, and does not offer protection for loss of rent or legal liability.

Example: During a storm, water entered a landlord’s top-level apartment causing damage to the ceilings, walls, carpets and blinds in the lounge and bedroom. Check out the below table to find out what typically is and isn’t covered in different policies…

	Landlord insurance policy	Strata titled policy
Repairs to walls	Not covered	Covered
Repairs to ceilings	Not covered	Covered
Repairs to skirtings	Not covered	Covered
Repairs to damaged carpet	Covered	Not covered
Repairs to damaged blinds	Covered	Not covered
Repairs to internal paintwork/wallpaper	Sometimes covered	Not covered

A lot of the time, the bond is just not enough. For example, a tenant may decide not to pay the last four weeks rent because they figure ‘that’s our bond anyway’. This leaves no money for cleaning and minor repairs.

NOTE: Some polices require a bond equivalent to four weeks rental value to have been taken before you are covered for loss of rent and other policy features. Make sure you collect the right amount of bond to ensure your policy is valid when it comes to claim time.

People seem to think there is a high risk of animals causing damage in rentals – a key reason landlords say ‘no’ to pets. However, truth is, more damage is caused by a human than a pet, which is why more and more property owners are extending their tenant-pool to allow those with furry friends. In addition, pet damage can be covered with a landlord insurance policy, offering protection for domestic animals living at the rental property.

When you make a claim, you may be required to pay a small amount of the cost (called an excess) and the insurer pays the rest. Not every policy has the same level of excess, and excesses may apply in different situations.

Example: If your investment property is battered in a storm, the cost of repairing damage may be $6,000. If the excess is $500, you would be required to pay this fee while the insurer pays the remainder. The excess can often be reduced from what the insurer pays, meaning you would receive $5,500 for the claim.

There’s ongoing panic and chatter about the increase of meth contamination in rentals. Landlord insurance cover for the cost of meth contamination clean-up depends on the individual insurer and the specific policies they offer.

If you think landlord insurance is too costly, think about how much more expensive it is to pay the cost to completely restore a home in the aftermath of a natural disaster. Premiums can cost just a couple hundred dollars a year. That is peace of mind knowing you have protection for your property, for the approximate cost of a large coffee a day.

A periodic tenancy agreement (or month-to-month agreement) may be beneficial as it allows for more flexibility in the tenancy. Many landlord insurance policies require a fixed-term lease to be in place at the time of a loss so make sure you understand your coverage regarding periodic leases and lease continuations.

Insurance companies are a popular villain. However, when you purchase a policy from an insurer, it is a commitment to assist when things go wrong, and you will be paid out if it falls within the policy’s terms and conditions. If you don’t agree with the outcome of a claim, insurers are required to have a dispute resolution process in line with the General Insurance Code of Practice, which includes the ability for you to escalate your complaint to an external dispute resolution body such as the Australian Financial Complaints Authority. This ensures a fair approach between insurer and client when a claim needs to be made.

HOUSEHOLDERs RENTAL

Don’t need cover for tenant-related damage?

Householders Rental is designed for landlords who don’t need cover for tenant-related damage and loss. It provides cover for insured events (such as fire, storm and flood) to contents and optional building, but does not cover accidental or tenant-related loss and damage.

Householders Rental