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Understanding Our New Suncorp Landlord Insurance PDS

Introducing the new Suncorp Landlord Insurance Product Disclosure Statement (PDS) for policies renewing on or after 25 March 2021. The PDS is an important legal document that contains details of the product you purchase, so you need to read it carefully.

The purpose of this page is to advise you of the various changes that we have made to our Suncorp Landlord Insurance PDS.

We’ve changed the layout of the PDS to help make it easier to understand. We have also made other changes to the policy – we have updated some of the wording to make it clearer and we have added and changed some covers, conditions and exclusions.

 Important change

Our Landlord Insurance will no longer provide any cover if your property is used for short stays, holiday rentals or house sharing. This includes if your property is available through Airbnb or Stayz.

Do not renew your policy if your property is used for short stays, holiday rentals or house sharing, as you will not have any cover. If you pay by direct debit, you will need to call us to cancel the direct debit.

Below are some of the sections in the PDS where we have made changes (some section names have changed):

For full details, please refer to your PDS.

The information above is not a complete list of the changes to your Suncorp Landlord Insurance. For full details of what is and isn’t covered, please read the Suncorp Landlord Insurance Product Disclosure Statement (PDS). Consider the PDS before making a decision about this insurance.

Property, unit or contents not in good condition

The exclusion ‘Property, unit or contents not in good condition’ has been added in order to improve transparency. An example in the general exclusion has been updated to ‘the roof leaks when it rains’ and a fresh example of ‘property (including all sheds, outbuildings and any other structural improvements at the insured address) is not structurally sound, is unsafe or unfit to live in’ has been added.

This exclusion has replaced the previous exclusion ‘Failing to take care of your home or contents’.

Short-term rentals and holiday letting

The policy will no longer provide any cover if the property is used for short-term rental, holiday letting or house sharing, including an arrangement booked through an online booking platform, such as Airbnb or Stayz.