RentCoverPlatinum
When insuring a house let permanently to tenants you need to insure the building and contents (carpets, curtains, blinds etc.) as well as the tenant-related risks. RentCoverPlatinum makes it simple, fast and inexpensive to combine comprehensive cover for the building and contents with the protection of landlords’ insurance in one policy.
So whether your tenant breaks their lease, damages your property, or whether there is a fire that causes a total loss, you will know that you are protected by RentCoverPlatinum.
With RentCoverPlatinum, you’re covered for damage to the building and/or contents through fire, earthquake, explosion, storm or rainwater (including flood) glass breakage, impact, theft, fusion, malicious acts by intruders or water damage from burst pipes or overflowing sinks.
You are also covered for almost every risk where a tenant does something wrong including malicious or accidental damage by the tenant, loss of rent due to broken leases, absconding tenants, denial of access and more. You’re even covered for up to $30,000,000 legal liability.
What is covered by RentCoverPlatinum?
| Loss of Rent due to: | Cover |
| Denial of Access | 52 weeks |
| Prevention of Access | 52 weeks |
| Default of Rent | 6 weeks |
| Departure without notice | 6 weeks |
| Breaking of lease | 6 weeks |
| Malicious Damage¹ | 52 weeks |
| Accidental Damage to Contents¹ | 52 weeks |
| Accidental Damage to Building | 52 weeks |
| Theft by Tenant¹ | 52 weeks |
| Hardship | 6 weeks |
| Death of a Tenant | 52 weeks |
| Defined Risks to contents (Fire, storm and flood etc.)² | 52 weeks |
| Defined Risks to building (Fire, storm and flood etc.) | 52 weeks |
| Damage & Theft (building) | |
| Malicious Damage | $65,000 |
| Accidental Damage | $65,000 |
| Theft by the Tenant | $65,000 |
| Defined Risks (Fire, storm and flood etc.)² | Up to sum insured |
| Damage & Theft (contents) | |
| Malicious Damage¹ | $65,000 |
| Damage caused by Tenant’s pets | $65,000 |
| Accidental Damage¹ | $65,000 |
| Theft by the Tenant¹ | $65,000 |
| Defined Risks (Fire, storm and flood etc.)² | $65,000 |
| Legal Costs | $5,000 |
| Legal Liability | $30,000,000 |
| Professional fees due to Tax Audit | $1,000 |
| Workers’ Compensation (WA) | Included |
Excess
| Loss of Rent | Nil |
| Malicious Damage | $400 Per Claim |
| Accidental Damage | $400 Per Event Max. 2 |
| Theft by the Tenant¹ | $400 Per Claim |
| Legal Expense | Nil |
| Owners Liability | Nil |
| Contents fire and perils | $200 per claim (except earthquake $250 and cyclone $500) |
| Building fire and perils | $200 per claim (except earthquake $250 and cyclone $500) |
¹ Contents for Malicious Damage, Accidental Damage and Theft by the Tenant refers to those items specified in the policy. Malicious Damage for contents items supplied by the landlord for the tenants’ use can be insured for a small additional premium.
² Defined risks (Fire, storm, flood and water damage etc.) applies to contents items supplied by the landlord for the tenants’ use.
Please refer to the Product Disclosure Statement for full details.