Get documents about "LANDLORD
Document Sample
Insurance Application Form
Landlord Insurance c Yes, I would like to purchase the ResSafe Landlord Insurance.
CONTACT DETAILS:
Contact Name
Contact Address
Suburb State Postcode
Email
DETAILS OF INSURANCE(S) TO BE ARRANGED AS FOLLOWS:
Property
Suburb State Postcode
Name of Insured
IMPORTANT DISCLOSURE:
I certify that I have read and understood the ACE Landlord
Insurance Policy Wording and Product Disclosure Statement.
PAYMENT INSTRUCTIONS:
c I authorise my property agent to pay the amount owing
from rent monies collected.
Signature
LANDLORD
Date
NOTES:
• This insurance is issued and underwritten by Jardine Lloyd
Thompson Pty Ltd, pursuant to a binding authority granted by ACE
Insurance Ltd.
CONDITIONS OF PLACEMENT:
• This insurance is accepted on the basis that the Insured has not
had any insurance denied, cancelled or subject to special
conditions in the past for a similar coverage or been charged or
convicted of any offence other than a driving offence.
• The property must currently be managed by an approved licensed
real estate agent or an approved property manager.
• The property insured must not be vacant for more than 60 days.
• This insurance is accepted on the basis that the property is not
occupied for holiday let, nor for commercial purposes, not a com
mune, not a display home, not for demolition, not undergoing
construction or refurbishment (over $75,000 in contract value) and
not attached to a commercial premises.
• The insured property is not located above the 23rd parallel
(cyclone prone areas).
• The insured has not made a single claim over $5,000 or more than
1300 850 299 3 claims on an insurer for physical loss or damage exceeding
$10,000 for losses under a similar policy.
www.ressafe.com.au Please return this application to the ResSafe office at:
GPO BOX 4773 MELBOURNE VIC 3001
Or fax to 1300 782 512
ResSafe Landlord Insurance Note: Payout is based on the weekly rent received from your
Tenant and which is the nominated amount in your Policy
Broad Insurance Protection Schedule. Weekly rent is subject to a maximum of $1,500 unless
Your investment property may be one of the largest investments otherwise agreed.
you make in your lifetime. Help protect your investment today
with value-for-money cover from ACE Insurance Ltd that is specially Liability Cover
designed for landlords and investors. Up to $20 million cover for legal liability when bodily injury or third
party property damage arises from an occurrence happening in
Cover Includes connection with your ownership of the investment property.
ResSafe Landlord Insurance provides a range of benefits that are not
covered by standard home buildings and contents insurance policies. Contacts
Enjoy the peace of mind and financial protection against the most For additional information about ACE Insurance Ltd please
common types of loss or damage that may occur to your investment contact the ResSafe office.
property.
ResSafe Pty Ltd
Accidental Damage to Contents, Fixtures & Fittings GPO Box 4773 Melbourne VIC 3181
• Protect your home contents, fixtures and fittings against Phone 1300 850 299 Fax 1300 782 512
accidental damage, fire, storm, theft, malicious damage, breakage enquiries@ressafe.com.au
of fixed glass, water damage, impact and fusion. www.ressafe.com.au
• Up to $50,000 cover on contents, fixtures. About ResSafe
ResSafe Pty Ltd and subsidiary companies are acting as Corporate
• Flexible nomination of sum insured for your building. Authorised Representatives of Jardine Lloyd Tompson Pty Ltd who
have effected the contract as agents of ACE Insurance Ltd Insurance
• Cover for malicious damage by a Tenant. under a binding authority. (ABN 77 115 089 819)
About Jardine Lloyd Thompson
Loss of Rent and Legal Expenses Jardine Lloyd Thompson Pty Ltd (JLT) is a leading provider of
Coverage for loss of rent:
insurance-related risk solutions and corporate services in Australia.
JLT is a wholly owned subsidiary of the largest European
• Up to 15 weeks when Tenants abscond, default in payment or
headquartered insurance broking group, which is also one of the
upon the death of a sole Tenant.
largest firms of its type in the world. (ABN 69 009 098 864)
• Up to 28 weeks when Eviction of Tenant occurs.
About ACE Insurance Ltd
ACE Insurance Limited is a member of the ACE Group of Companies®
• Up to 6 weeks when the Court awards a Tenant with release from
on of the leading global providers on insurance and reinsurance. The
lease obligations due to hardship.
ACE Group provides a diversified range of products and services to
clients through operations in more than 50 countries around the world,
• Up to 52 weeks if the Loss or Damage that has occurred is
and has the authority to conduct business in over 140 countries.
covered under the Building / Contents Section (eg:against fire,
storm or impact damage).
General Advice Warning
Any advice contained in this publication is general. To help decide
• Up to $6,000 for Legal Expenses and Costs
if this product suits you, please read the Product Disclosure
Statement (PDS) and Policy Wording.
Product Disclosure Statement (PDS) Types of Cover Cover Summary
Available See relevant Section for applicable specific Limits of
1. IMPORTANT INFORMATION ABOUT THIS PDS AND POLICY WORDING Liability, definitions, exclusions and conditions.
This document contains important information required under the Corporations See also general definitions, exclusions and
Act 2001 (the Act) and has been prepared to assist You in understanding conditions applying to all Sections of the Policy.
Landlords Residential Insurance and making an informed choice about Your
insurance requirements. It is up to You to choose the cover You need. Section 1: Cover against loss or damage to Your Building as a
You should read the PDS, Policy Wording and Schedule of this insurance to Building Cover result of Malicious Damage or theft occurring during
obtain a complete description of all the benefits, terms, conditions and exclusions the Policy Period up to the Combined Limit of Liability
relating to the cover offered under this insurance. applicable to Sections 1 and 2.
Please read these documents carefully and ensure that You keep them in a safe
place for future reference. This Section also provides an Additional Benefit of
up to $2,000 for accidental loss or damage caused
General Advice directly by the burning out of an electric motor
Any general advice that may be contained within this PDS or accompanying forming part of the Building that has a capacity less
material does not take into account Your individual objectives, financial situation than 4hp and is less than 10 years old.
or needs.
You should consider the appropriateness of this product having regard to Your The Building must be used as a residential dwelling
objectives, financial situation and needs. You need to decide if the limits, type house that You have rented to Tenants and includes
and level of cover are appropriate for You. domestic outbuildings. located at the Situation,
domestic fixtures and fittings, domestic structural
Preparation Date improvements, fixed floor covering (but not carpets)
This PDS was prepared on 22 August 2008. and services owned by You.
Other documents may form part of Our PDS and if they do, We will tell You in the
relevant document.
Section 2: Cover against accidental loss or damage to Your
2. ABOUT THE INSURER Contents Cover Contents occurring during the Policy Period up to
ACE Insurance Limited (ABN 23 001 642 020, AFS Licence No. 239687) (ACE) the Combined Limit of Liability applicable to Sections
is the insurer of this product. 1 and 2. Section 2 also provides the following
In this PDS, “We”, “Us”, “Our” means ACE Insurance Limited. Our contact Additional Benefits.
details are:
28-34 O’Connell Street SYDNEY NSW 2000 • Cover for accidental loss or damage caused by the
Telephone: 1800 815 675 burning out of an electric motor forming part of the
Facsimile: (02) 9335 3467 Contents which is less than 5 hp and 10 years
old;
3. COVER WE CAN OFFER • loss or damage to Your Contents caused directly
When You apply for this insurance, You will need to complete an application. We by:
will use the information supplied by You to decide the terms of cover We will – Malicious Damage;
provide. We provide cover to You on the terms contained in the application, the – theft; or
Policy Wording and any other document, including the most recent Schedule that – riot and civil commotion.
is issued to You. Each of these Additional Benefits are subject
to certain limitations and maximum claim limits
The Schedule will contain important information relevant to Your insurance specified in Section 2.
including the period of insurance, the type of cover You have selected, Your
Premium, the limits (if optional) that You want for particular covers, and whether Contents include household goods and appliances,
any standard terms need to be varied by way of endorsement. carpets, internal blinds and curtains, fixtures and
All of these make up Your “Policy”. domestic structural improvements inside a Strata
Title unit that are not insured by the Body Corporate,
4. SUMMARY OF THE BENEFITS AND RISKS furniture and furnishings that are not built in plus
Benefits Above Ground Swimming Pools that:
Subject to the payment of Your Premium, We will provide the cover You have
selected subject to the exclusions, conditions and limitations stated in the Policy • Are owned by You (or for which You are legally
and Schedule. responsible); and
The following is a summary only of the types of cover available and does not • You provide to the Tenant for use at the Situation
form part of the terms of Your insurance. We give examples of some of the and are listed in a property condition report
significant benefits and risks but You need to read the Policy Wording part of this signed by the Tenant at the beginning of the
document which sets out the terms and conditions of this insurance, to make Lease.
sure it matches Your expectations.
Section 3: Cover against loss of Rent as result of: • settlement, shrinkage, vibration or expansion in buildings, walls,
Loss of Rent • loss or damage covered by Section 1 - Building slabs, pavements or driveways; or
and Legal Cover; • erosion; or
• water seeping or percolating through a wall, floor or roof; or
Expenses • loss or damage covered by Section 2 - Contents
• vermin, wildlife or insect; or
Cover; • wear, tear, rust, corrosion, depreciation or gradual deterioration; or
• a Tenant absconding and not complying with • inherent defects, structural defects, faulty workmanship or faulty
Lease obligations; design; or
• default of Rent payment including when a court • the roots of trees, shrubs, plants and grass; or
has issued an eviction order against the Tenant; • any process of cleaning, restoring repairing, retouching or
• death of a sole Tenant; or maintenance; or
• a court awarding a Tenant a release of Lease • any failure on Your part of Your agents to use all reasonable means
obligations due to hardship. to protect and maintain the Building and/or Contents at any time;
The amounts payable for a loss of Rent claim are • renovations, repairs, alterations or additions;
subject to maximum periods of claim and a maximum
• Tenants, their visitors, their visitors children, or their visitors pets,
except to the extent covered under Additional Benefits 2 and 3 of
weekly recoverable Rent. Section 2;
This Section also provides an Additional Benefit of up • deliberate or intentional damage except to the extent covered under
to $6,000 for legal expenses incurred with Our written Additional Benefits 2, 3 and 4 of Section 2.
consent for the purpose of evicting the Tenant or
recovering amounts payable by the Tenant for damage We will also not pay for any loss or damage to shade cloth, swimming
caused by the Tenant or rental default by the Tenant. pool covers and liners and solar covers. There are also specific exclu-
sions or conditions that apply under each Section of the Policy. Refer
Section 4: Covers You up to the Limit of Liability applicable to the specific exclusions and specific conditions in each Section of the
Liability Cover to Section 4 for legal liability to pay Compensation Policy Wording for further details.
in respect of Personal Injury of others or Property
Damage of others occurring during the Policy Period as An Excess may also apply for a valid claim which You are required to
a result of an Occurrence happening in connection with contribute towards each and every event that causes loss or damage
Your ownership of the Property. insured by the Policy. Refer to the Policy Wording and Schedule for
details of any Excess that may apply.
If You do not adequately insure Yourself for Your potential loss, You
may have to bear the uninsured portion of any loss Yourself.
Risks
There are certain times when this insurance may not provide cover. We may refuse to pay a claim or reduce the amount under a claim in
Some of the exclusions applying to all Sections of the Policy where certain circumstances. In particular:
We will not pay include, but are not limited to any claim, loss, damage, • Where an exclusion applies;
liability, cost or expense arising out of or in any way connected with: • If You do not comply with the terms and conditions of the Policy;
• Acts of Terrorism; • If You do not comply with duty of disclosure or make a misrepresen-
• asbestos; tation; or
• consequential loss; • If You make a fraudulent claim.
• dishonest or intentional conduct by You, Your family or any other
person acting with Your knowledge, consent or participation; 5. DUTY OF DISCLOSURE
Before You enter into a contract of insurance with Us, You have a
• loss of Electronic Data; duty under the Insurance Contracts Act 1984 (Cth) to disclose to Us
• known faults and defects; anything that You could reasonably be expected to know is relevant to
• lawful seizure of any insured Property; Our decision whether to accept the risk of insurance and if so, on what
• mildew; terms.
• pollution;
• radioactivity; You have the same duty to disclose those matters to Us before You
• removal of support or vibration; renew, extend, vary or reinstate a contract of general insurance.
• unoccupied Property; and Your duty, however, does not require disclosure of a matter:
• war • that diminishes the risk to be undertaken by Us;
You should refer to the Policy for full details of the exclusions applying • that is of common knowledge;
• that We know or, in the ordinary course of business, ought to know;
to each Section ofthe Ppolicy ihcluding the ‘ADDITIONAL or
EXCLUSIONS APPLYING TO SECTION 2 - CONTENTS COVER’. • as to which compliance with Your duty is waived by Us.
These exclusions include, but are not limited to any loss or damage The duty of disclosure applies to You and everyone insured under the
casued directly or indirectly by: contract of insurance. If You, or they, fail to comply with the duty of
• Flood; or disclosure, We may reduce Our liability under the contract in respect of
• the action the Sea, high water or high tide, Storm surge, tidal wave or a claim or may cancel the Policy.
Tsunami; or If the non-disclosure is fraudulent, We may treat the Policy as if it
• fusion or mechanical breakdown except to the extent covered under never existed and pay nothing. It is important that all information
Additional Benefit 1 of Section 1 or Additional Benefit 1 of Section 2; provided in support of Your application for insurance is understood by
• soil or earth movement including erosion, subsidence, landslide You and is correct, as You will be bound by Your answers and by the
information provided by You. If You do not understand any part of this
or mudslide unless the loss or damage directly arises out of an notice, You should obtain independent advice. Your duty of disclosure
earthquake; or continues after Your application for insurance has been completed up
until the contract of insurance is entered into.
6. CONSEQUENCES OF NON-DISCLOSURE 13. DISPUTE RESOLUTION
The duty of disclosure applies to You and everyone insured under the We are committed to handling any complaints about Our products or services
Policy. If You, or they, fail to comply with the duty of disclosure, We
efficiently and fairly. If You have a complaint, contact Us.
may be entitled to reduce Our liability under the Policy in respect of a
If Your complaint is not satisfactorily resolved, You may request that the matter
claim or may cancel the Policy.
If the non-disclosure is fradulent, We may treat the Policy as if it never be reviewed by the Internal Dispute Resolution Committee (Committee). We
existed and pay nothing. will advise You of the Committee’s findings within fifteen (15) working days. If
You are unhappy with Our internal review of Your complaint, You may take
Your complaint, at no cost to You, to the Insurance Ombudsman Service (the
7. CHANGE OF RISK OR CIRCUMSTANCES Ombudsman). The Ombudsman can make decisions which We are obliged to
You should advise Us immediately of any change to your normal comply with.
business as disclosed to Us prior to entering into the contract of The Ombudsman can be contacted at:
insurance, such as changes in location, acquisitions or new overseas G.P.O. Box 3 Melbourne VIC 3001
activities. This includes every change materially affecting the facts of Telephone: 1300 780 808
circumstances existing at the commencement of this insurance, or at Facsimile: (03)9613 6399
any subsequent renewal date. Email: info@fos.org.au
Website: www.fos.org.au
8. PRESERVATION OF SUBROGATION RIGHTS Further information about the Ombudsman is available on request. A brochure
We will not cover You where You have agreed with another person or describing Our dispute resolution procedure is also available on request.
company, who would otherwise be liable to compensate You for any
loss or damage which is covered by the Policy that You will not seek
to recover such loss or damage or contribution from that person or
14. PRIVACY STATEMENT
ACE Insurance limited (“ACE”) is committed to protecting Your privacy. ACE
company, to the extent permitted by law, for such loss or damage or
contributions. Insurance Ltd collects, uses and retains Your personal information in accordance
with the National Privacy Principles. Our detailed privacy policy is available on
9. PREMIUM our web site at www.aceinsurance.com.au.
We take a number of factors into account when calculating Your ACE Insurance Ltd collects Your personal information (which may include health
Premium. Your risk profile, including the level of cover chosen and any information) when you are applying for, changing or renewing an insurance
previous insurance history will have a significant impact on Your Pre- policy with Us or when We are processing a claim. We collect the information to
mium. Your Premium also includes any amounts payable in respect assess your application for insurance, to provide You or Your organisation with
of compulsory government charges (including stamp duty, GST and competitive insurance products and services and administer them and to handle
fire services levy, where applicable). We will tell You, when You apply, any claim that may be made under a policy. If You do not provide us with this
what Premium is payable, when it needs to be paid and how it can be information, We may not be able to provided You or Your organisation with insur-
paid. ance or to respond to any claim.
We may disclose the information we collect to third parties, including contractors
10. TAX IMPLICATIONS and contracted service providers engaged by Us to deliver our services or carry
If You: out certain business activities of Our behalf (such as assessors and call centres),
• are registered for GST; and other companies on the ACE Group, other insurers, Our reinsurers, and govern-
• would be entitled to an input tax credit if You were to incur the cost to
ment agencies (where we are required to by law). These third parties may be
which a claim under this Policy relates, We will reduce any amount it
located outside Australia.
pays under any such claim by an amount equal to Your input tax credit
entitlement. You agree to Us using and disclosing Your personal information as set out
This tax information is a general statement only. See Your tax adviser above. This consent remains valid unless You alter or revoke it by giving written
for information about Your specific circumstances. notice to our Privacy Officer.
From time to time, We may use Your personal information to send You offers or
11. COOLING OFF & CANCELLATION information regarding Our products that may be of interest to You. If You do not
Cooling Off wish to receive such information, please contact our Privacy Officer using the
If this Policy does not meet Your requirements, You may return the contact details provided below.
Policy to Us within twenty one (21) days from the date the Policy com- If You would like to access a copy of Your personal information, or to correct or
menced with a written notice that the Policy is not required. update your personal information, please contact customer relations team on
You will receive a full refund of the Premium providing nothing has oc- 1800 815 675 or e-mail customer.relations@ace-ina.com.
curred for which a claim is payable under the Policy. If You have a complaint or want more information about how ACE Insurance Ltd
Cancellation of Your Policy is managing your personal information, please contact the Privacy Officer, ACE
You may cancel this Policy by giving notice in writing to Us. If such Insurance Ltd, GPO BOX 4907, Sydney, NSW 2001, Tel: 1800 815 672 or email
notice is given, the cancellation will take effect on the day the notice customer.relations@ace-ina.com.
is received by Us. We may cancel this Policy in any of the circum-
stances and in the manner set out in the Insurance Contracts Act 1984
(Cth). Such cancellation is to take effect thirty (30) days from the time
15. UPDATING OUR PDS
Information in this PDS may be updated where necessary. A paper copy of
notification is received by You. For full details on how this Policy may
be cancelled, refer to page 29. any updated information is available to You at no cost by calling Us. You will be
issued with a new PDS or a supplementary PDS, where the update is to rectify
12. HOW TO MAKE A CLAIM a misleading or deceptive statement or an omission, which is materially adverse
You should advise Us as soon as possible of any event(s) which could from the point of view of a reasonable person deciding whether to obtain this
lead to a claim. Please contact your Property Manager for full details insurance. Jardine Lloyd Thompson Pty Ltd Version 31/01/2009.
on claims procedures.
