Multi Award Winning
Awards include back to back winners of the Underwriting Agency of the Year Award 2017 – 2018 and Insurance Business Gold Award winner 2016 – 2018.
What is landlord insurance?
Landlord insurance is a tax deductible insurance that protects you against loss or damage to your investment property. So you can continue to receive rent if you tenant defaults, departs or if your property is accidentally or maliciously damaged making it unfit to be occupied.
Landlord insurance if you live in an apartment, unit, villa or townhouse is important as residential strata insurance only protects the building, not your personal property or possessions.
Why choose CHU?
MyConnect has partnered with CHU, one of Australia's largest and most awarded insurance underwriting agencies who specialise in providing comprehensive insurance tailored specifically for strata properties like apartments, units, villas and townhouses. CHU protects almost 1 million properties across Australia.
Unlike other companies CHU offers automatic inclusions other insurers may charge as ‘optional extras’ or not offer.
| Section | Cover | Complementary Special Benefits |
| 1. Contents | Covered on a new for old replacement basis against accidental loss or damage |
Special benefit:
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| 2. Building Damage | Walls, windows, doors, floors, ceilings and fixtures of the property are covered against theft, accidental or malicious damage | |
| 3. Loss of Rentable value | Loss of rentable value if your property is unfit to be occupied, (52 weeks) | |
| 4. Loss of rent (departure of tenant) | Loss of rent if your tenant departs, (6 weeks) | |
| 5. Loss of rent (default by tenant) | Loss of rent if your tenant defaults, (15 weeks) |
Special benefit:
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| 6. Legal expenses | Legal expenses in connection with a claim |
Special benefit:
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| 7. Liability to others | $30M protection if you’re legally responsible to pay compensation for personal injury or property damage | |
| 8. Government audit costs | Professional costs incurred in connection with an investigation by the Australian Tax Office or other statutory body: $5,000 |
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Plus your policy comes with:
- 21 day cooling off period should you change your mind
- 24/7 claims service and support with emergency assistance
- $0 cancellation fee
- New for old replacement
Almost 1 million properties protected
We are strata specialists, organising the insurance for almost 1 million apartments, units and townhouses across Australia.
24/7 Claims Process and Emergency Hotline
When you need help the most CHU’s claim process strives to be quick and accessible. Over 40% of claims are processed in under 24 hours.
Awards
CHU are multi-award winners: back to back winners of the Underwriting Agency of the Year Award 2017 – 2018 and Insurance Business Gold Award winner 2016 – 2018.
Why you need landlord insurance
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Most expensive claim type – legal liability
Your tenant slips on a wet tile and falls inside your apartment, hurting their ankle, back and hand. X-rays confirm fractures resulting in time off work.
Your tenant seeks damages from you for medical treatment and loss of earnings. Your CHU Landlord Insurance policy covers you for the cost of defending the claim and also the legal liability.
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Most common claim type – loss of rent
Your neighbour’s sewerage pipe blocks causing your toilet to overflow. You have widespread sewerage and water damage to your property. Your tenant leaves as the property is uninhabitable.
The damage takes 3 months to fix, your CHU Landlords Insurance policy provides new for old replacement for affected items and loss of rentable value while your property is unfit to be occupied.
The diagram below shows what would be covered by the strata building insurance and by your CHU Landlords Policy.
Frequently asked questions
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Do I need landlord insurance when my building has Strata Building Insurance?
Yes, residential strata insurance only provides general ,insurance cover for the building, common/shared property and common/shared contents. The cover provided by the Strata Building policy ends when you cross the threshold of your individual property. Landlords insurance protects you for tenant related loss/damage inside your property.
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What is landlord insurance and do I need it?
It’s insurance cover for strata property owners who are renting out a unit/apartment to tenants. It is important as it provides cover for accidental loss or damage to contents in your unit from events such as fire, flood or storms. It covers items such as carpets, light fixtures, built-in wardrobes and kitchen cupboards as well as loss of rent if the unit is unfit to be occupied. Additionally, it covers you and your investment property for malicious damage to contents/buildings caused by tenants and/or their guests. It also covers you if your tenant fails to pay rent.
