Landlord insurers change policies

Renters will no longer be pursued over accidental property damage after investigations and a campaign by CHOICE and WEstjustice. You can read about the investigation in the article below:

Plus, we’ve also ranked landlord insurance recovery practices:

6 Likes

This is a great outcome and well done Choice for pursuing.

4 Likes

I notice RACQ Insurance isn’t listed. What does omission from the list indicate?

1 Like

I have looked on their website, but can’t find where they offer Landlord Insurance. Can anyone provide a link ?

2 Likes

It looks like they don’t provide specific Landlord Insurance, but one can have house insurance where the house is rented or the owner is a landlord…

https://www.racq.com.au/insurance/get-insurance/home-insurance/home-insurance-only

The PDS states…

For Landlords If you are a landlord, your home also includes your:
• fixtures and fittings,
• floor coverings and carpets,
• blinds and curtains.

The insurance for a ‘landlord’ is very limited and with the exclusion…

You are not covered for:
Any loss or damage covered by an included benefit, including ‘Accidental damage, malicious damage or theft by a tenant’.

Cover only appears to be for insured events only, and not for typical landlord type claims.

Edit…looking further the policy is basic coverage for a dwelling that is rented in the long term (as short term or holiday rentals are significant policy exclusions) rather than landlord insurance per se. Any damage associated with its renting is excluded, and only events removed from the renting of the dwelling is covered (the insured events). It can only be assumed that say a tenant causes an accidental fire, the owner won’t have insurance under the RACQ policy for the damage. Definitely a policy to avoid if one has a dwelling and it is rented, thinking it is landlord insurance or covers activities of the tenants. It would require specific landlord insurance to also be taken.

3 Likes