13 80 10
Looking out for you®
General La Trobe Financial Insurance Questions
By calling La Trobe Financial's Insurance Desk on 1800 819 075, between 8:30am and 5:30pm Monday to Friday
We have convenient payment options to suit everyone:
* Additional transaction fees may apply for Bpay, cheque & credit card payments
ABSOLUTELY NOT! La Trobe Financial provide insurance to customers who do not currently have a loan or investment product with us. Our flexible periodic payments combined with high quality cover can provide an excellent solution for your insurance needs.
General premiums levels are set by the chosen Insurance provider and reflect a number of factors, including the cost of current and future claims, commissions, and business expenses.
The particular premium you pay is calculated using a wide range of factors including:
These factors may cause an increase or decrease to your premium.
Each time you renew your insurance, your premium may change, even if your personal circumstances have not changed. This is because premiums are affected by:
There are factors outside our control, and they can affect costs of settling claims, so we need to analyse them on an ongoing basis.
We understand that no one wants their premium to rise.
Sometimes when you renew your insurance your premium will change even if your personal circumstances have not changed.
This is because premiums are affected by:
Landlords Insurance Questions
Landlord's Insurance offers cover for loss due to fire, flood and other similar perils, including theft and malicious damage caused by your tenants, plus we will cover you for loss of rent following an insured event.
You can also choose optional Rent and Legal Expenses cover for protection against interruptions to your rental income.
Special features and cover options include:
Rent and Legal Expenses option covers you for:
Whilst you would need to consider your own options and circumstances, generally speaking, customers who elect to insure their investment property with Landlords insurance are covered for any accidental or malicious damage caused by tenants that may otherwise not be covered in a standard home and contents policy.
Landlords Insurance policies also have optional cover for rental income protection in the event that the building becomes uninhabitable or in the event of a rental default, lawful eviction or lawful vacation event occurs.
MOST DEFINITELY! At La Trobe Financial, we understand that as a property investor you are looking for products and services that best match your needs & cash flow. With that in mind we offer insurance products that can be paid with your periodic loan repayments with the added convenience of no premium loading for paying weekly, fortnightly, monthly, quarterly or annually. All insurance payments will show on your La Trobe Financial Quarterly Loan Account Statement which we hope will make tax time that little bit easier.
So simply put, insuring your investment property through La Trobe Financial means:
* Additional transaction fees may apply for Bpay, cheque & credit card payments.
When renewing your policy, you have a Duty of Disclosure to tell us everything you know or should know that is relevant to the decision to insure anyone under the policy.
This includes matters we specifically ask about when renewing your Landlords Insurance policy, or any other matters that you know or could reasonably be expected to know that may affect the decision to insure you.
Please read your renewal documentation carefully for information about your Duty of Disclosure obligations.
Also, let us know if there has been a change in your circumstances, which may have an impact on your Landlords Insurance. For instance, if you have renovated your property or entered into a new rental agreement for example, this may have an impact on your sums insured and rental income protection benefit.
At La Trobe Financial we try to make filing a claim as easy for you as possible. If you follow the instructions below, you will make it easier to finalise your claim.
To lodge a claim for your La Trobe Financial insurance policy underwritten by CGU, you will need to call and speak to our Insurance Department on 1800 819 075
What are excesses?
If you make a claim, the excess is the amount you have to pay for each incident. The amount and type of excesses that apply to your policy are shown on your Certificate of Insurance. Our insurer will deduct the excess from the amount payable to you following a claim, or it will ask you to pay the excess to a supplier, repairer or us.
Depending on the circumstances of your claim, you may be required to pay an additional excess.
Should I keep an inventory of my contents?
It's wise to maintain a detailed list of electrical equipment, which should include makes, models, serial numbers, etc. This will come in handy if you ever need to make a claim.
You should also keep a list of other valuable items that are likely targets for burglars, for instance jewellery, CDs, art works, collections, memorabilia and hand woven rugs.
This list should include full descriptions, valuation certificates and receipts. Photographs or video camera sweeps of your home showing contents items can also be useful in the event of a claim.
What proof do I need when I make a claim?
We will ask you for proof of purchase or evidence of value and ownership at the time of claim. This could be a store or credit card receipt, user manuals for recently purchased electrical items, or even a receipt of repair to the item.
We suggest that you store all of your receipts or valuations in a fireproof area or container.
How are claims paid?
When settling claims, the insurer provides new for old replacement regardless of age, with no allowance for depreciation. We can:
However our insurer will not:
Home & Contents Insurance Questions
MOST DEFINITELY! At La Trobe Financial, we understand that keeping track of your home finances and direct debit schedules can be frustrating and sometimes downright difficult. We also understand that not everyone can afford to or want to pay their insurance premiums annually or even monthly.
La Trobe Financial strives to offer convenience wherever possible for our customers, that’s why we offer insurance products that can be packaged with your loan account and paid periodically with your home loan repayments with no additional premium loadings for paying weekly, fortnightly, monthly or even quarterly!
So put simply, insuring your home and/or contents through La Trobe Financial means:
* Additional transaction fees may apply for Bpay, cheque & credit card payments.
The purpose of your Home & Contents Insurance is to return you to the position that you were in prior to a claim.
You are responsible for deciding the amount of your sum insured.
Homes
To avoid being underinsured, your Home sum insured should reflect what it would cost to rebuild your house today using the same materials and the same style of fittings and fixtures as well as costs involved to demolish and clear the land.
It is always worthwhile to consider whether you need a professional valuation by contacting an architect, builder or other valuation experts.
Contents
The new for old replacement cost of your contents depends on the furnishings, personal items, valuables, appliances and other household goods you have in your home or unit.
One way that might help you calculate the new for old replacement cost of all contents is to walk around the home, room by room, make a list of all the items and place a new for old value against each of them. The total new for old replacement value of all contents items should be your sum insured.
Each year, it is worthwhile noting new Contents items purchased during the period of your Insurance, and call us to update the sum insured accordingly. Unless you are downsizing your home, the sum insured usually needs increasing.
Up to the sum insured will be paid for most Contents items, however for certain items there are limits. You can insure the contents items for a higher amount by listing each for its full replacement value on your Certificate of Insurance.
First, improve security and safety. Items such as dead-bolt locks, monitored burglar alarms and key window locks can usually bring discounts. Second, raise your excess. The excess is the amount of money you have to pay towards a loss before the insurance kicks in.
To make a change to your insurance cover, all you have to do is call our Insurance Desk toll free on 1800 819 075. Changes can include:
You must also contact us if anything changes which might affect the risk you are insuring. This is known as your ‘duty of disclosure’ and is more fully described in your policy wording under the heading “Your Duty of Disclosure”.
You will receive a renewal notice approximately two to four weeks prior to your renewal date. The renewal notice outlines the amount payable, the payment options and the next steps.
You also receive your Certificate of Insurance, which outlines your policy details including type of cover, sum insured, excess amounts and any optional covers you have chosen.
Please ensure the information on your Certificate of Insurance is correct, and that you have an adequate level of cover for your home and contents. If you need to make any changes, please contact us on 1800 819 075.
When renewing your policy, you have a Duty of Disclosure to tell us everything you know or should know that is relevant to the decision to insure anyone under the policy.
This includes matters we specifically ask about when renewing your Home Insurance policy, or any other matters that you know or could reasonably be expected to know that may affect the decision to insure you.
Please read your renewal documentation carefully for information about your Duty of Disclosure obligations. They are also described in your policy wording under the heading “Your Duty of Disclosure”.
Also, let us know if there has been a change in your circumstances, which may have an impact on your Home and/or Contents Insurance. For instance, if you have renovated your home or if you have purchased new furniture/appliances, this may have an impact on your home and contents sums insured.
Yes, if they are rented under a signed rental agreement which makes you legally responsible for these items, then a Contents policy will insure these items for loss or damage.
Damage to carpets and window coverings (ie. Blinds, curtains, etc) are covered are covered if you have contents an insurance policy which includes contents.
Yes, your home is covered for up to 60* consecutive days. If you are going on holidays for more than 60* days and leaving your home unoccupied, you must notify us and obtain written consent for continuation of cover beyond 60 days.
If your home is going to be unoccupied for more than 60* days, the underwriter may:
When a home is unoccupied, it becomes more exposed to the risk of loss or damage. According to our claims data, the most likely causes of loss or damage while the home is unoccupied are:
Because of the increased risk associated with you leaving your Home unoccupied, we will only provide cover for up to 60* days, unless otherwise agreed.
If your home is damaged beyond repair or your belongings are damaged beyond repair or stolen, the policy will replace your home and contents new for old, regardless of their age.
You will receive up to $5,000 cover on your visitor's belongings in the event of loss or damage. This additional feature is not available on Landlords Insurance policies.
Legal Liability covers death or bodily injury to other people, or loss or damage to their property resulting from an incident which happens at the insured address. For instance, if a person was to come onto your property and injure themselves tripping whilst climbing the stairs, the legal liability component of your policy could cover you if they seek the payment of damages.
Legal Liability on Contents also covers compensation for an incident, which causes death or bodily injury to other people anywhere in Australia. So if you were playing golf and your ball was to strike another player causing injury, we will cover your legal liability.
At La Trobe Financial we try to make filing a claim as easy for you as possible. If you follow the instructions below, you will make it easier to finalise your claim.
To lodge a claim for your La Trobe Financial insurance policy underwritten by CGU, you will need to call and speak to our Insurance Department on 1800 819 075
What are excesses?
If you make a claim, the excess is the amount you have to pay for each incident. The amount and type of excesses that apply to your policy are shown on your Certificate of Insurance. Our insurer will deduct the excess from the amount payable to you following a claim, or it will ask you to pay the excess to a supplier, repairer or us.
Depending on the circumstances of your claim, you may be required to pay an additional excess.
Should I keep an inventory of my contents?
It's wise to maintain a detailed list of electrical equipment, which should include makes, models, serial numbers, etc. This will come in handy if you ever need to make a claim.
You should also keep a list of other valuable items that are likely targets for burglars, for instance jewellery, CDs, art works, collections, memorabilia and hand woven rugs.
This list should include full descriptions, valuation certificates and receipts. Photographs or video camera sweeps of your home showing contents items can also be useful in the event of a claim.
What proof do I need when I make a claim?
We will ask you for proof of purchase or evidence of value and ownership at the time of claim. This could be a store or credit card receipt, user manuals for recently purchased electrical items, or even a receipt of repair to the item.
We suggest that you store all of your receipts or valuations in a fireproof area or container.
How are claims paid?
When settling claims, the insurer provides new for old replacement regardless of age, with no allowance for depreciation. We can:
However our insurer will not: