Complicated is out
Your current policy compared with your new WriteMark™ Plain Language Standard approved policy, plus answers to some questions you may have.
Frequently asked questions
No, the FinTel brand will no longer exist as we’re phasing out old policies and moving customers to our latest Tower policies. We’re recommending you move to our Tower House Plus Cover as this is our closest match to your current policy. However, we also have other options that may suit you better. Compare our latest house policies
The Landlord's Plus Cover gives you full replacement cover for fire and cover for temporary accommodation, plus it has benefits specifically for houses that are tenanted, such as:
- Cover for up to $20,000 if your tenants deliberately damage your property and the house becomes uninhabitable.
- Cover for up to $20,000 if the whiteware or window coverings you own at your property are damaged.
- Up to 8 months’ cover for loss of rent if there is damage to your house that makes it uninhabitable.
- Up to 8 weeks’ cover for loss of rent for other reasons, such as if your tenant has been lawfully evicted for not paying rent or has left without notice.
- Cover for up to $30,000 for methamphetamine decontamination.
Other changes from your current policy:
- The amount you can claim for gradual damage is now limited to $2,000 (down from $5,000).
- Some damage caused by domestic pets is no longer covered.
With your new policy you have specific responsibilities as a landlord to protect your property. These include things you may already be doing, such as making frequent property inspections and having a tenancy agreement. It’s important you read and understand these responsibilities as meeting these is a condition of cover.
Your current policy covers your house for present day value. When you move to a replacement value sum insured policy your premium will change to reflect the increased level of cover for your house. You’ll see your premium in your renewal email which you’ll receive shortly. Find out more about how your premium is calculated.
The excess is the amount you need to pay toward any loss when you make a claim and it’s approved. Tower then ‘tops up’ your contribution, up to your policy limit.
When you move to your new policy, your excess may change and it’s important to check it and make sure it’s right for you. If excess refund is part of your current policy, you'll notice that it's not offered on your new policy. This means that you'll now pay an excess if you make a claim. Our latest house policies give you a choice of excesses, ranging from $400 to $2,500.
The amount of excess you choose for your policy will affect the premium you pay - the higher your excess, the cheaper your premium. As well as considering the premium, it’s also important to think about whether you will be able to afford to pay the excess if you happen to have a claim.
As you move to our latest cover at renewal you’ll also have a new unique policy number for each of your policies. Remember to use this policy number as your reference when you contact us or make a payment for this policy. You’ll find your policy number on the top right hand corner of your new insurance documents.
We’re phasing out older house, contents and car policies and moving customers to our latest policies ensuring they have the most up-to-date cover. If you have other FinTel policies, or any Tower policies, we’ll let you know of any changes to each of your policies in another ‘heads up’ email, or in your renewal email. We’re sending an individual email for each policy so you may receive more than one.