Residential or commercial – we’ve got landlords covered

City StreetsWhether a landlord owns a one-bed apartment or a multimillion dollar commercial premises, with our RentCover suite and CLIP we’ve got the cover they need.

Back in 1991 EBM began providing comprehensive insurance for residential landlords across Australia. Today, RentCover not only has more than 120,000 properties under cover but has also built strong partnerships with real estate industry professionals. 
In fact, it would be fair to say that RentCover is the most popular cover amongst real estate agencies – as we account for about 60 per cent of all landlord insurance business coming from agencies. We also have a thriving network of agents who partner with us to deliver tailored insurance solutions to tens of thousands of property investors. 
It was RentCover’s extensive relationships with property managers which helped spur the development of a new landlord policy in November 2015. 
Like many PMs who handle both, we recognised that residential and commercial landlords had a lot in common and that the right landlord insurance was imperative. 
To meet the needs of the market, we added a product to our suite of property industry cover – RentCover, TenantCover, ShortTerm – with a new option specifically designed for commercial landlords. 
Teaming up with QBE – one of only two known insurers with a specific commercial landlord offering – EBM offers Commercial Landlords Insurance Policy (CLIP).
CLIP is a market-leading solution which provides a level of cover not available in most policies including:
  • Loss of Rent for up to 52 weeks (sliding scale applies)
  • Accidental Damage cover 
  • Malicious Damage (including by tenants) up to the full policy limit
  • Theft cover up to the full policy limit
  • Flood cover (optional)
  • Claims preparation costs up to $50,000 for any one claim automatically included 
  • Additional cover for removal of debris up to $50,000 over the sum insured
CLIP extends the range of products available to our RentCover affiliated agents. Designed to be used by Commercial PMs, CLIP sets a new benchmark for corporate and commercial property cover. 
Around two in three RentCover claims are made for loss of rent, so we understand the importance of having extensive cover to address lost income. CLIP not only covers loss of income while damaged premises are being repaired, but also rent default. Unlike some policies on the market, rent default is not an optional extra but a standard inclusion. CLIP provides up to 52 weeks’ loss of rent cover – double the number of weeks provided in most other policies.
Damage is a key concern for landlords and CLIP covers both accidental and malicious damage (including that caused by tenants). According to QBE, around 27 per cent of all commercial landlord claims are for malicious damage, yet other policies may exclude these events. 
Another key difference is the flexibility that CLIP offers. Commercial landlords can choose the eventualities they want coverage for, instead of paying extra premium costs for risks that may not be necessary.
CLIP automatically covers Property (it is the only mandatory element in the policy) and landlords can then select additional covers to be included in their tailored package. The options include:
  • Property – buildings, fixtures and fittings (cover also available for strata titled properties)
  • Loss of Income (including Rent Default)
  • Theft
  • Money
  • Glass
  • Liability
  • General Property
  • Machinery Breakdown
  • Electronic Equipment
  • Employee Dishonesty
  • Tax Audit
  • Employment Practices Liability
  • Statutory Liability 
Find out more about CLIP by contacting one of our Commercial, Industrial and Retail Property specialists. Our experts can discuss the covers a landlord actually needs for their commercial property.