INSURING YOUR HOME
What’s the difference between landlord insurance and home insurance?
If you own a property, the type of insurance you need depends on how you use it. If you rent it out, you may need to consider landlord insurance. It includes cover for landlord-specific incidents, like loss of rent and malicious damage caused by tenants.
Home insurance vs landlord insurance at a glance
How much does landlord insurance cost?
The cost of landlord insurance depends on factors including:
With GIO Landlord Insurance you can get cover for:
- the location of your property
- the building type and construction standard
- the sum insured, and
- the level of cover you’ve selected, including optional covers.
What is home insurance?
Home insurance covers the cost of repairing or rebuilding your home – that is, the property you live in, rather than one you may lease out to tenants – if its damaged or destroyed by an insured event like fire, theft, storm or vandalism. You can add cover for your contents with a combined home and contents insurance policy.
GIO Home Insurance offers a few different cover options:
- Building Insurance, which covers the physical structure of your home and its permanent fixtures.
- Contents Insurance, which covers the belongings inside your home.
- Home and Contents Insurance, which combines the above.
Choosing the right insurance
Before choosing a policy, consider:
- who lives in the property
- whether you receive rental income, and
- the level of cover you want.
With GIO Landlord Insurance, you can take comfort knowing you’re covered in the event of malicious damage caused by your tenants. You may also be able to claim rental income if your tenants default on rent payments. There are terms, limits and conditions that apply, so read the PDS for more details.
You’ve worked hard to buy your investment property, so consider giving your asset the cover it deserves.
Read more:
- How to self‑manage your rental property
- How do I compare home and contents insurance?
- Home insurance claims guide
Insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Read the Product Disclosure Statement before buying this insurance. Target Market Determination is also available.
The information is intended to be of a general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon it – please make your own enquiries.
