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Contents Insurance for renters

Protect your belongings if you live in a rental property from loss or damage from insured events such as theft, fire and storm.

Why choose this cover?

  • Up to 10% discount on your first year's premium when purchasing a new policy online
  • 24/7 claims assistance
  • Pay by the month at no extra cost

Is this product right for you? Find out more

What's covered?

Buildings insurance is designed to protect the physical structures and fixtures that make up your home buildings – from the house itself, to your garage, fences and paved driveways (even built-in appliances like hot water systems, air-conditioners and more).

- Summary of benefits

Contents insurance protects the belongings you have at the insured address – from your furniture, carpet and appliances to your BBQ and even your clothes, shoes and handbags. We’ll generally pay to repair or replace your contents – up to the policy limits.

- Optional covers

It pays to know

For full details of the standard terms, conditions, limits and exclusions that apply please read the Product Disclosure Statement (PDS), any applicable supplementary PDS before making a decision to purchase the insurance. The Home Contents Key Fact Sheet (KFS) also sets out some information about the cover.

Select the cover to suit your needs.

Effective 22 February 2021

Summary of benefits

"easy process and really personalised service"
Rob from VIC

Here is a limited summary of the benefits of a contents insurance policy.

Cover when you’re moving house

Allianz will cover your contents for loss or damage caused by an insured event both at your new and old address for up to 14 days after you first start to move. No cover is provided for loss or damage whilst contents are in transit (unless you have Accidental damage cover).

Additional costs of alternative accommodation for your pets

If your contents are damaged by an insured event during the period of insurance to such an extent that you can’t live in your home buildings, Allianz pay the additional costs for temporary accommodation for you up to 10% of the contents sum insured and up to $500 for temporary accommodation for your pets in a commercial boarding establishment.

Debris removal

Allianz will pay up to 10% of the contents sum insured for removal of debris from the home building if your contents are damaged or destroyed by an insured event.

Food or medicine spoilage

If your refrigerator or freezer breaks down and you lose your perishable food or medicine as a result, Allianz will pay for you to replace it. If you claim for this benefit, excess will apply.  If the spoilage is due to a natural disaster (declared by Allianz, the government or the Insurance Council of Australia ) the maximum Allianz will pay is $500. No excess will apply. 

Guest, visitor and domestic helper property

Allianz also provide cover for property belonging to your guests, visitors and domestic helpers up to $5,000 (included in your contents sum insured), if it is lost or damaged as a result of an insured event that you are claiming for.

Cover for events

Allianz will cover you up to your contents sum insured for loss or damage caused by storm, cyclone, rainwater and run-off (provided run-off is not combined with flood waters). For cyclones, floods, grassfires and bush fires a 72 hour exclusion period applies.

Cover for storm damage

Rest easy, within the first 72 hours following a storm, Allianz have got you covered for loss or damage caused by soil movement, landslide, mudslide or subsidence caused by a storm.

Legal liability

Allianz will cover your legal liability up to $20 million for payment of compensation relating to death, bodily injury or illness, and/or physical loss of or damage to property caused by an accident (or series of accidents). If you have contents cover, it does not cover any legal liability you may incur as owner of the buildings unless the buildings are defined as a lot.

Accidental breakage cover for you rental property

Allianz will cover you for accidental breakage of a fixed glass or ceramic item, like a window, cooking surface, sink or toilet if you are legally liable as a tenant to pay for the breakage.


Optional covers

Apply to add any of these optional covers for an additional premium and greater cover.

Accidental damage

The accidental damage cover option helps protect you in the event of accidental unexpected mishaps that are caused unintentionally – giving you greater coverage for your home building and/or contents.

Portable contents

You can choose optional cover to protect your portable contents such as mobile phones, cameras and engagement rings in the event of theft or an accident at the insured address and when you take them out of your home, even when you are temporarily outside Australia for up to 120 continuous days in any period of insurance. Some portable contents must be specified as Listed Portable Contents with the full replacement value to be covered away from the home

Motor burnout

The Motor burnout option covers you if an electrical current damages your household electrical motors. This cover is automatically included if you have taken optional Accidental Damage cover.

Flood cover

Flood cover may be available as an optional cover to your buildings and/or contents. A 72 hour exclusion period applies.

Domestic workers’ compensation cover

Cover for a domestic worker (e.g. gardener or cleaner), if they are injured   while working for you at the insured address.  Only available in ACT, WA and TAS.

Frequently asked

Apply to add any of these optional covers for an additional premium and greater cover.

How do I know if I have optional covers on my policy?

You can apply to add these options to your policy when you start or renew it (or during your period of insurance) by contacting Bank Australia on 132 888. If you’re not sure whether you have added these cover options, you can check your policy schedule.

What is considered ‘unable to be lived in’?

Your home is unable to be lived in when it is so damaged that normal domestic activities like cooking, sanitation and personal hygiene cannot take place, and you cannot live in the home.

Which option do I need to cover my laptop, tablet, mobile phone or smart watch away from home?

You can cover laptops, tablets, mobile phones, smart watches and other wearable technology away from the home under the Portable Contents optional cover. These items must be specified on your policy as Listed portable contents to be covered under this option. We will not cover cracked glass or screens where this is the only damage to the item.

What do I do if I need to make a renters insurance claim?

Do what you reasonably can to prevent further loss, damage or liability. Tell the police as soon as reasonably possible about any malicious damage, theft, attempted theft, burglary or loss of insured property. Contact the Claims Call Centre on 13 10 13 and advise the Claims Consultant of what has happened: the Claims Consultant will help you through the renters insurance claims process.

In order to be sure that you are covered under this policy you should always contact us for approval before you incur expenses you wish to claim. If you do not, we will pay for expenses incurred to the amount we would have authorised had you asked us first.

Am I covered for Flood?

Flood cover is an option on both Building and Contents in Home and Landlords policies. Please call Bank Australia on 132 888 to find out whether you are eligible for Flood cover. For full details of terms, conditions, limits and exclusions of all our home insurance cover options, please refer to the relevant Product Disclosure Statement any supplementary PDS and Home Contents Key Fact Sheets.

What does it mean if I take the Accidental Damage cover option?

This optional cover provides even more protection – it covers you in the event of damage caused by unexpected mishaps that are caused unintentionally not just the specified insured events.

If you have Contents cover and take this option, the sort of mishaps you’ll be covered for include when you spill red wine on the carpet or lounge.

We’ll extend cover for your contents anywhere in Australia for up to 90 continuous days (not just at the insured address).



Disclaimers

Bank Australia Limited ABN 21 087 651 607 AFS Licence No. 238431 arranges this insurance as agent for the insurer Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFS Licence No. 234708. We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please consider the Product Disclosure Statement. The relevant Target Market Determination is available at http://www.einsure.com.au/wb/redirect/TMD-Householders. If you purchase this insurance, Bank Australia will receive a commission that is a percentage of the premium (including renewals and variations) and may be entitled to a profit share or marketing allowance if certain thresholds are met in agreed periods and other types of insurance policies entered into under Bank Australia’s arrangements with Allianz. Details are provided in the Financial Services Guide, available in branch, by calling 132 888 or at https://www.bankaust.com.au/

1. Online discount

[Home] When you buy a new home insurance policy online a discount of up to 10% is applied to your first years premium including the following optional covers (if selected); Accidental damage, Flood, Motor Burnout and Portable Contents. This discount is not applied on renewal.

[Landlord] When you buy a new Landlord insurance policy online a premium discount of up to 10% is applied to your first years premium including the optional cover Flood. This discount is not applied on renewal.

2. Combined

[Applies to Home & Contents only] A discount of up to 10% for combining Buildings and Contents covers on one policy is applied for Building and Contents, Motor Burnout and Accidental damage cover where applicable. The combined policy discount does not apply to the optional Flood or Portable Contents covers. This combined discount does not apply to Landlord Insurance policies.

3. No Claims Bonus

When you take out a new policy, we calculate your No Claims Bonus (NCB) based on your home or landlord (as applicable) insurance claims history. To qualify for the maximum No Claim Bonus of 30%, home insurance customers must have had no Building or Contents insurance claims in the preceding 5 years. Landlord customers must have had no Landlord insurance claims in the preceding 3 years. However, customers who have had claims may still qualify for a reduced No Claim Bonus.

4. Minimum premiums

If you are eligible for more than one discount, Allianz applies them in a predetermined order. This means any subsequent discount will be applied to the reduced premium amount after applying any prior discounts and the effect of the subsequent discount will be reduced. For example, the aggregate effect of applying two 10% discounts consecutively means that you will not see the full benefit of both these discounts.

Discounts do not apply to taxes or government charges.

Discounts do not apply to optional covers for Domestic Workers Compensation / Landlord Workers Compensation, and may not apply to other optional covers (if available and selected).

Any discounts/entitlements may be subject to rounding and may only apply to the extent that any minimum premium is not reached.

5. Option to change your excess

Not available when an additional compulsory excess or imposed excess applies. Minimum Premiums apply.

6. Instalment premiums

If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.