Landlord Insurance

Cover for your residential investment property

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Landlord Insurance

A residential investment property needs to be appropriately protected. Insurance can give you the peace of mind and confidence that your property will be looked after should something go wrong. TIO Landlord insurance covers the property and the contents you provide for your tenant’s use.

For full details of the conditions, limits and exclusions on all our cover options please refer to the Product Disclosure Statement.

Actual or attempted theft, burglary or housebreaking
We will cover you for loss or damage that is caused by or results from actual or attempted theft, burglary or housebreaking as a result of an insured event.
Cyclone2
We will cover you for loss or damage that is caused by or results from a Cyclone.
Earthquake
We will cover you for loss or damage that is caused by or results from an Earthquake.
Fire or explosion
We will cover you for loss or damage that is caused by or results from a fire or explosion.
Flood2
We will cover you for loss or damage that is caused by or results from a Flood.
Storm surge2
We will cover you for loss or damage that is caused by or results from a Storm Surge (an increase in sea level associated with a tropical cyclone or other intense storm).
Storm, Cyclone2, Rainwater and Hail
We will cover you for loss or damage that is caused by or results from a Storm, Cyclone, Rainwater or Hail.
Fusion of electric motors
We will cover you for loss or damage that is caused by or results from a fusion of electric motors.
Impact
We will cover you for loss or damage that is caused by or results from an Impact such as a tree falling onto your investment property.
Legal Liability
We will cover your legal liability for negligence that causes death or bodily injury, or loss or damage to other people’s property.
Lightning
We will cover you for loss or damage that is caused by or results from Lightning.
Liquid and Water Damage
We will cover you for loss or damage that is caused by or results from a Liquid escaping from any fixed apparatus, tank or fixed pipe or any street gutter, storm channel or storm drain.
Loss of rent
We will cover you for up to 12 months loss of rent, if your property becomes unfit to live in as a result of a covered incident. The amount we will pay is the amount of your actual loss, which will not be more than the weekly rental value of your rental property applied to the period necessary to repair the damage. The amount we will pay is limited to 10% of the sum(s) insured on your buildings and/or contents specified on your Policy Schedule.
Malicious Damage
We will cover you for loss or damage that is caused by or results from a person acting maliciously.
Mortgagee discharge costs (buildings only)
In the event of total destruction of your buildings as a result of an insured event we will pay up to $2,000 to cover the administration costs associated with the discharge of any mortgage over the buildings.
New for old cover for contents (contents only)
At TIO’s discretion and subject to availability contents will be replaced with new items as a result of an insured event.
Plants
We will pay up to $1,500 for loss or damage to plants growing in your garden caused by fire or malicious acts.
Professional fees (buildings only)
We will pay up to 10% of your buildings sum insured as a result of an insured event for the cost of professional fees such as architects and surveyors fees and for the costs of the temporary protection or security of your building necessarily incurred in connection with repairing, rebuilding or replacing your building.
Removal of Debris
We will pay up to combined total of 10% of your buildings sum insured as a result of an insured event for the cost of removing debris that is necessary for repairs or replacing your buildings.
Replacing keys and repairs to and re-coding of locks and barrels (buildings only)
If the key or electronic locking device to any external door lock of your building is stolen, we will pay up to $2,500 for the repair, replacement or re-coding of the locks, keys or electronic locking device as a result of an insured event.
Replacement cover for buildings (buildings only)
In the event of total destruction of your buildings as a result of an insured event we will pay the amount to replace the buildings as a result of an insured event.
Riot or civil commotion
We will cover you for loss or damage that is caused by or results from a riot or civil commotion.
Sale of insured property (buildings only)
If you have contracted to sell your buildings we will extend cover to the purchaser until the sale is completed, the purchaser enters into possession of the building or the purchaser insures the buildings or becomes liable for damage to the buildings.
Storage costs (contents only)
If during the period of insurance, your rental property suffers loss or damage as a result of an incident covered by this policy and becomes unfit to live in as a result, we will cover the reasonable costs to remove and store your contents (that you are legally responsible for) for up to 12 months.
Extra costs to comply with by-laws (buildings only)
We will pay up to 10% of your buildings sum insured for the additional costs necessary to comply with local government by-laws where such compliance becomes necessary due to the destruction of or damage to your buildings resulting from an insured event.
Optional Benefit
Rent Default 3
We will cover you for rent default if, during the period of insurance your tenant leaves your rental property before the end of the tenancy period or your written rental agreement, without giving you or your rental agency notice, is legally evicted from your rental property or stops paying rent owed to you or your agent.
Optional Benefit
Theft by Tenant 4
We will cover you for loss or damage to your buildings or contents arising from theft by your tenant during the period of insurance. We will only cover you if there is a written rental agreement between you and the tenant which states the term of the rental period, the amount payable to you and the amount of bond money the tenant is required to pay.
Optional Benefit
Disaster Cover (buildings only) 5
We will increase the sum insured on your buildings by 30% if your buildings suffer an insured loss or damage which is covered by Section 1 Buildings, and the loss or damage was caused by a named cyclone (including storm surge), flood or earthquake (including tsunami).

Policy Documents and Key Fact Sheets

We do not provide advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please refer to the Product Disclosure Statement (PDS). A key fact sheet is also available for reference.

Frequently Asked Questions

Take all reasonable precautions to prevent further loss, damage or liability. Contact the TIO Claims Contact Centre on 131 846 and advise the Claims Consultant of what has happened, the Claims Consultant will help you through the landlord insurance claims process.
No. To lodge a landlord insurance claim, all you have to do is call TIO, on 131 846, and we will take the details over the phone.
Where we agree to replace your contents, we will arrange this for you – no quotes are required. We will discuss this when you call to lodge your landlord insurance claim.
Retain receipts, instruction booklets or any other documents that can help provide evidence of your ownership in the event of a claim. Retain a copy of your written rental agreement and details of the bond held. Claims staff will require this for loss of rent claims. Retain copies of any property inspection reports. Your claims consultant will advise you of what is required to help us process your claim quickly.
TIO has agreements with national suppliers to replace most items. We organise the quotes and replacement of your possessions and do most of the leg work for you.
Talk to a local
Our contact centre and claims teams live and work in the Territory, so we know Territory conditions.
We cover the conditions
With our landlord cover, you may be covered for storms, cyclones, hail, storm surge and flood.
Trusted since 1979
TIO was established in 1979 to provide Territorians with insurance options that are right for them. Almost 40 years on, we are still here because we are as committed and passionate about the Northern Territory as you are.

1. Minimum premiums may apply

Any discounts/entitlements may be subject to rounding and only apply to the extent any minimum premium is not reached. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding taxes and government charges) as reduced by any prior applied discounts/entitlements. Discounts may not be applied to the premium for any optional covers, including flood (where relevant).

2. 72 hour waiting period for loss or damage occurring from cyclones, storm surge or floods

As the Territory is subject to catastrophic weather events, it is necessary for us to apply a 72 hour waiting period for loss or damage occurring from cyclones, storm surge or floods. This means if you arrange new insurance or make a mid-term alteration such as increase sums insured, you will not have cover for these events until 72 hours after purchase or alteration.

3. Rent default

We will only pay a rent default claim if there is a written rental agreement between you and the tenant which states the term of the rental period, the amount payable to you and the amount of bond money the tenant is required to pay your tenant breaches your written rental agreement or periodic tenancy agreement, and you or your rental agency have taken all reasonable steps legally available to you under the Residential Tenancies Act, or other relevant legislation, to remedy non-payment and evict the tenant.

We will not pay for any rent default after the date that the rental property is re-tenanted or when the term of your rental agreement ends, whichever comes first

4. Theft by tenant

We will not pay for claims arising out of or in connection with any damage caused by neglect, or untidy, unclean or unhygienic habits of tenants.

5. Optional disaster cover

Only available in conjunction with buildings cover. Following a significant event that causes widespread property destruction, like cyclone, earthquake or flood, it is common for building costs to increase significantly in line with demand.

If you select Disaster Cover, we will increase the sum insured on your buildings by 30% for covered loss or damage caused by a named cyclone (including storm surge), flood or earthquake (including tsunami).

6. No Claim Bonus

To qualify for the maximum No Claim Bonus of 30%, landlords must have had no landlord losses in the preceding three years. However landlords who have had up to two claims may still qualify for reduced No Claim Bonus.