Westpac Group has announced an agreement with Allianz to continue to help us provide our customers with general insurance products.
If you are an existing Bank of Melbourne insurance customer, you may be wondering what this means for you. Our agreement with Allianz means we will be able to continue to support our customers with their insurance needs and there is no change to your current Bank of Melbourne insurance policy or any claim that may be in progress as a result of this announcement. See our FAQs to learn more.
Landlord Extras customers
Have you lost rental income as your tenant has been financially impacted by COVID-19 and cannot pay their rent? You may be able to claim under your Optional Landlord Extras cover, see the Landlord Extras COVID-19 claims FAQs to learn more.
Rent default cover
We’re not currently offering Landlord Extras cover, which includes cover for loss of rent due to default by tenants, to new or existing Landlord Insurance customers. There may be other insurance options available to suit your requirements; please refer to the Insurance Council of Australia for a list of alternative providers.
Property investment carries inherent risks - even with finding the right tenant. Landlord Insurance provides cover for a range of events, so you have less to worry about.
Read the Product Disclosure Statement for full terms and conditions, including limits and exclusions.
What is Building Insurance for landlords?
Building Insurance provides cover against damage to the property’s physical structure in an unexpected event. The cover extends to more than just a residential properties walls, and includes fixtures and fittings such as:
What is Contents Insurance for landlords?
Contents Insurance provides cover for your contents you make available to your tenants, such as:
How much does it cost to rebuild my property or replace my contents?
If your investment property is a strata unit or townhouse, your building insurance may be taken care of by the strata or body corporate and you should contact your strata board for any enquiries. However, if it’s a house, think about what it would cost to rebuild it today using the same type of materials and the same style of fittings and fixtures.
The Building and Contents calculators available through our websites are intended as a guide only. For a more accurate rebuilding cost, consider obtaining a professional valuation from a licensed builder or professional valuer.
Do I need to notify my insurer of any changes to my property?
Many Australians undervalue their assets when it comes to insurance, so it pays to keep your insurance up to date to avoid unexpected outcomes. It is wise to notify your insurer before or as soon as you become aware that your circumstances have changed because you might not be covered unless you notify your insurer. Some of the changes in circumstances that require notification include:
Quote and buy online to save 15% off your annual premium for the first year with promotional code COVER. Plus, 10% when you combine building and contents located at the same address under one policy.*
You can pay for your cover monthly or yearly - whatever suits you and at no extra cost.^
24/7 claims support available online and over the phone, we're there for you when you need us. One of our dedicated Australian claims managers will call you back if we have further questions.
Cover is subject to your application for insurance being accepted.
Product Disclosure Statements (PDS)
This information does not take your personal objectives, circumstances or needs into account. Read the relevant PDS(s) to see if this insurance is right for you.
^ Premiums payable by instalments may be subject to minor adjustments due to rounding, and financial institution transaction fees may apply.
* Quote and buy online and save 15% off your annual premium for the first year with promotional code COVER. Plus, save 10% when you combine building and contents located at the same address under one policy.
Landlord Insurance is issued by Westpac General Insurance Limited ABN 99 003 719 319 (except workers compensation cover where applicable). Bank of Melbourne – a Division of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) distributes the insurance, but does not guarantee the insurance.