Frequently asked questions about Landlord Insurance
Buying Landlord Insurance
No, there is no legal requirement for you to have Landlord Insurance. However, if you take out a loan to pay for your investment property, taking out Landlord Insurance may be a requirement of that loan.
While Home and Landlord Insurance may sound like the same thing, they are classed differently because, as a landlord, you receive an income through rent.
Your Home Insurance may not cover you if the property is let out to tenants.
You should consult your PDS to confirm that you know exactly what you’re covered for. Please contact us if you’re unsure.
Yes, you can get a Landlord Insurance policy regardless of whether you manage your investment property yourself.
Cover can be started at any time but cannot be backdated. If you have just purchased a property, the best time to start is straight away – especially if the property is vacant and being advertised for rent.
As a landlord, you have a liability exposure from the moment you or your agent begins showing potential tenants through the property.
After the numerous flooding events throughout the country in recent years, it is important that we provide our customers with flood cover even if it is unlikely a flood will occur at their address.
You can get Suncorp Landlord insurance for your relocatable home if the home is:
- Owned and occupied by you and;
- Approved by council or the relevant qualified authority and;
- Connected to mains electricity, sewerage and water and;
- On permanent foundations and;
- Is not located in a caravan park, holiday park or holiday village or similar;
- Is not owned by a caravan park, holiday park or holiday village or similar
If your home does not meet that criteria you won’t be able to get Suncorp Landlord insurance, but you can still insure your contents provided the home is on permanent foundations.
Claims
When your claim for loss or damage to the property is covered, we’ll offer to have a builder from our network complete the repair/rebuild, or the choice of a cash settlement.
Assuming your claim for loss, theft or damage to your contents is covered, your contents may be replaced, repaired or we may pay you.
We will aim to use a member of our supplier network to repair or replace damaged contents.
Sometimes this is not always possible or practical and this will determine how your contents claim will be settled.
For details of how we settle your contents claim, please refer to the PDS.
If your building is insured with us, we can arrange for one of our builders to attend the property and temporarily make it safe to prevent any further loss/damage.
If you must do immediate repairs to make the property safe before our has attended, ensure that you take clear photos/videos of all damage including the source of damage (for instance, a hose or pipe that has burst) and provide these to our builder/assessor. Do not dispose of any items, unless they pose a health risk, prior to our builder/assessor attending. If any items must be disposed, ensure multiple clear photos are taken of said items prior to disposal.
If you find more damage or discover something else has been stolen, please make a note, take photos and let us know the next time we’re in touch. There’s no need to immediately reach out – we’ll work with you to include all details in your claim.
If a different part of your home is damaged by another event, please make a new claim online or in the Suncorp Insurance App.
Upload documents to your claim in your My Suncorp Account or in the Suncorp Insurance App, or email them to myclaim@suncorp.com.au with your claim number in the subject line.
Payments & renewals
Yes, the cover is no longer valid when the landlord takes up permanent residence at the insured property. The landlord or property manager should advise us if this occurs.
If you have missed a monthly instalment payment, you can easily catch up by making a one-off payment via the Suncorp Insurance App or your My Suncorp account.
Easily pay your excess online or in the Suncorp Insurance App.
Managing your policy
Yes, you can. To manage your policy – including changing your address – please visit My Suncorp on mobile, login on your computer or tablet.
Yes, the cover is no longer valid when the landlord takes up permanent residence at the insured property. The landlord or property manager should advise us if this occurs.
We’re sorry you're thinking of cancelling! You can cancel your landlord insurance in your My Suncorp or via the Suncorp Insurance App. If you haven't registered yet, it's easy to get started.
To cancel other policy types please give us a call on 13 11 55.
No, however you may be required to provide the written rental agreement if you lodge a claim. If you can’t present this evidence, we will review the information you have provided when assessing your claim.
