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Optional Rent Default cover

Landlord Insurance with optional cover for Rent Default

Why choose us?

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Cover if a tenant defaults on the rent

We’ll pay loss of rent for up to 15 weeks, or until another tenant starts paying rent.
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Reassurance if a tenant leaves without notice

Loss of rent cover for up to six weeks, or until another tenant moves in or rent resumes.
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Help with legal expenses

Up to a maximum of $3,000 for each rent default claim, where we’ve confirmed approval.

What is Rent Default cover?

As a landlord, rent default may be one of your biggest concerns. A tenant defaults on their rent if they fail to pay the agreed amount on time or at all.  If you rely on your rental income for mortgage payments, property maintenance, or other expenses, this optional cover may be worth considering.

With Allianz Landlord Insurance, you can add optional Rent Default cover to your policy for an additional cost. It can help safeguard your rental income from unpaid rent situations like tenants leaving without notice. We’ll also help with approved legal expenses.

What our Rent Default and Theft by Tenant option covers

Find out what is and isn’t covered under our Rent Default and Theft by Tenant option.

If you add optional Rent Default and Theft by Tenant cover to your Allianz Landlord Insurance, we’ll cover a maximum of $10,000 of lost rent in your insurance period due to the following events:
 

  • Default of rent
    If your tenant defaults on rent payments and fails to make good after you’ve issued the appropriate notices.

    We’ll pay your lost rent for up to 15 weeks, or until a new tenant moves in or you receive rent payments again.
  • Departure of the tenant without notice
    If your tenant permanently vacates the property without giving the required notice under the rental agreement.

    We’ll pay your lost rent for up to six weeks or until a new tenant moves in.
  • Death of a sole tenant
    If your sole tenant dies before the end of their tenancy.

    We’ll pay your lost rent from the date of their death or until a new tenant moves in for up to six weeks.
  • Tenant hardship
    If your rental agreement is legally terminated by a Residential Tenancies Tribunal due to tenant hardship.

    We’ll pay your lost rent for up to six weeks from when the termination order is issued or until a new tenant moves in or you receive rent payments again.
  • Theft by Tenant
    If your tenant or their visitors cause loss or damage by theft, burglary, or house breaking to your insured building or contents.

    We’ll pay up to the relevant buildings and contents sum insured you nominate, or any set limits outlined in the PDS.
  • Legal expenses
    If we accept your claim for rent default or theft by your tenant and we give you prior written approval.

We’ll pay up to $3,000 in legal expenses for each rent default or theft by tenant claim.

WHAT'S NOT COVERED

  • Any claims without a written lease or rental agreement in place from the time the tenant lives at the property
  • Expenses that we haven’t authorised, so make sure you call us for approval
  • Legal expenses without our prior written approval
  • Claims for the departure of a tenant without notice
  • Claims for the death of a sole tenant if they’d given you or your agent notice before their death
WHAT'S COVERED

This is a summary only of some of the features and benefits available on Allianz Landlord Insurance, as well as some of the exclusions. Before deciding on a policy, carefully consider the relevant Product Disclosure Statement (PDS) and Supplementary PDS (where applicable) which set out the standard terms, conditions, limits and exclusions.
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How to add Rent Default cover to your policy

If you have Allianz Landlord Insurance already, you can pay extra to add Rent Default and Theft by Tenant cover to your policy.

Do you need to add Rent Default cover to your Landlord Insurance policy? Our team is here to help you with a new policy.

CALL 13 1000

Frequently asked questions

Rent Default refers to situations where a tenant fails to pay their rent on time or stops paying it altogether. 

Rental Costs after an insured event refers to when your property is damaged by an insured event like a fire or a storm and your tenant can’t live in or access the home.  

Loss of rent refers to the income lost when a property becomes uninhabitable or vacant. 

Our Landlord Insurance automatically covers you for loss of rent after an insured event, like a fire. However, by adding optional Rent Default cover to your Allianz Landlord Insurance, you can get additional support. This extra cover can help you if your tenants don’t pay the rent or leave without notice. It can also assist you with legal expenses where we’ve confirmed approval.

You can add Rent Default cover to your Landlord Insurance for an additional cost. The cost of your insurance is your ‘premium’. We’ll work out your premium using a number of factors, including:

  • Where your investment property is located
  • The type of property you’re insuring
  • Your property’s claims history
  • Government charges such as stamp duty and emergency services levies
  • The excess you choose1

To see some of the conditions, limits, and exclusions of this cover, refer to the Key Fact Sheets (KFS).

 

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*Conditions apply

  1. Option to change your excess

    Not available with respect to any additional compulsory excess, or to the imposed excess applied to the policy. Any reduction in premium will not be applied to government taxes and charges, or to optional covers (if available and selected): Landlord’s Workers' Compensation, or Flood. Minimum premiums apply.

Allianz acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work across Australia. We pay our respect to First Nations Elders past and present.



Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits, and exclusions apply. Before making a decision about this insurance, consider the relevant Product Disclosure Statement (PDS)/Policy Wording and Supplementary PDS (if applicable). Where applicable, the PDS/Policy Wording, Supplementary PDS and Target Market Determination (TMD) for this insurance are available on this website. We do not provide any form of advice if you call us to enquire about or purchase a product.

Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered, and Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered. Each entity is responsible for any statements and representations made about its products, on this website.