NRMA Insurance building insurance: what each policy covers, and who underwrites it
4 building policies from NRMA Insurance. For each: how the building is valued, whether flood and accidental damage are covered, and what happens once the building is left empty, with the sentence from its own documents. Underwritten by Insurance Australia Limited.
- Website
- nrma.com.au/
- What it is
- Brand
- Listed on
- Houses and rental properties, Apartment and unit buildings (strata), Business premises and property owners
- Underwriter
- Insurance Australia Limited
- APRA
- Authorised by APRA to write new general insurance (listed as Insurance Australia Limited)
Building policies
NRMA Home Building Insurance
- Type
- Home building · Residential
- Sold
- Direct
- Levels of cover
- Standard, Plus
- Building valued as
- Sum insured, + 25% option
- Flood
- Included, can be removed
- Accidental damage
- Optional extra
- Left empty
- No cover after 60 days. You must tell the insurer. Only if the home is also not kept in a lived-in state (lawns mowed, mail stopped, someone checking inside and out weekly).
- Who it is for
- Private residential buildings (free standing house, townhouse, villa, duplex, semi-detached or terrace) used as primary residence or holiday home; not units or flats or buildings used as a business.
- Documents
- Home Insurance Product Disclosure Statement and Policy Booklet (10 September 2023) · Supplementary PDS (10 October 2025) · Key Facts Sheet - Home Building (13 May 2024) · Home Insurance Premium, Excess and Discounts Guide · Target Market Determination (TMDHBC004) (27 April 2026)
- Safety net (extra 25% of the Building Sum Insured) applies to Building Plus only; Building Standard is a plain sum insured.
- Flood, rainwater run-off and storm surge cover can only be removed if the property is in NSW, ACT or TAS.
- Accidental damage is automatically included in Plus and is an extra-premium option on Standard.
- Not for units, flats or apartments; the same policy also sells Home Contents.
The policy
“Our Building Insurance can help protect your home's structure and permanent fixtures, from walls and floors to sheds and in-ground pools.”
Source: nrma.com.au/home-insurance/buildings-insurance · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“Buy your Home Buildings Insurance online and we’ll automatically apply the discount.”
Source: nrma.com.au/home-insurance/buildings-insurance · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“We will pay the reasonable extra costs to repair or rebuild Your Home up to 25% of the ‘Building’ Sum Insured.”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-home-pds-nrmahompds-rev2-0923.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“*You may be eligible to remove cover from your Building insurance or Contents insurance for loss or damage caused by Flood, Rainwater Run-off and Storm Surge (but not tsunami), if Your insured property is in NSW, ACT or TAS.”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-home-spds-nrmahomspds-rev2-1125.pdf · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“Accidental damage Automatically included if You have cover for: ‘Building Plus’; or ‘Contents Plus’ Available if You have cover for: ‘Building Standard’; or ‘Contents Standard’”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-home-pds-nrmahompds-rev2-0923.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Your Home being unoccupied for 60 or more consecutive days and not maintained it in a lived-in state by:”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-home-pds-nrmahompds-rev2-0923.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Providing cover for a private residential building, including the fixtures and fittings, such as a: • Free standing house • Townhouse, villa or duplex • Semi-detached house or terrace”
Source: iag.com.au/tmd/tmdhbc004 · Confirmed on the insurer's page on 13 November 2026.
NRMA Landlord Insurance (Landlord Buildings)
- Type
- Landlord · Residential
- Sold
- Direct
- Building valued as
- Sum insured
- Flood
- Included, can be removed
- Accidental damage
- Not stated
- Left empty
- No cover after 60 days. You must tell the insurer. Only if the rental property is also not kept in a lived-in state (lawns mowed, mail stopped, someone checking inside and out weekly).
- Who it is for
- Private residential buildings rented out to tenants under a rental agreement of at least 90 days; not hotels, boarding houses or buildings used mainly for business.
- Documents
- Landlord Insurance Product Disclosure Statement and Policy Booklet (10 September 2023) · Supplementary PDS (13 May 2024) · Landlord Insurance Premium, Excess and Discounts Guide · Target Market Determination (TMDLBC005) (27 April 2026)
- No Standard/Plus levels and no safety net additional benefit appear in the landlord PDS.
- The PDS lists only accidental breakage of glass, not general accidental damage, in its key benefits table; accidental_damage left null.
- Flood, rainwater run-off and storm surge cover can only be removed if the property is in NSW, ACT or TAS.
The policy
“our Landlord Insurance policy can cover things like loss of rental income during repairs, furniture and furnishings that are left for your tenant to use, and loss or damage caused by fire, flood, storm, theft, vandalism, leaks and more.”
Source: nrma.com.au/home-insurance/landlord-insurance · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“Buy your Landlord Insurance online and we’ll automatically apply the discount.”
Source: nrma.com.au/home-insurance/landlord-insurance · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“‘Building’ Sum Insured – this is the amount Your Rental Property is insured for; and/or”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-landlord-pds-nrmalanpds-rev2-0923.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“*You may be eligible to remove cover from your Building insurance or Contents insurance for loss or damage caused by Flood, Rainwater Run-off and Storm Surge (but not tsunami), if Your insured property is in NSW, ACT or TAS.”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-landlord-spds-nrmalanspds-rev0-0524.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Your Rental Property being unoccupied for 60 or more consecutive days and not maintained in a lived-in state by:”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-landlord-pds-nrmalanpds-rev2-0923.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Has a rental agreement of at least 90 days”
Source: iag.com.au/tmd/tmdlbc005 · Confirmed on the insurer's page on 13 November 2026.
NRMA Business Insurance (Section 1 Property)
- Type
- Business property · Commercial
- Sold
- Direct
- Flood
- Included
- Accidental damage
- Included
- Left empty
- No cover after 90 days. Unless the insurer agreed in writing.
- Documents
- Business Insurance Product Disclosure Statement and Policy Booklet · Target Market Determination for Business Insurance (TMDBU001) (5 October 2021)
- Section 1 Property forms part of the policy only if shown on the Certificate of Insurance, so buildings cover is optional.
- Accidental damage is capped at $250,000 combined unless 'Additional Accidental Damage' is shown on the Certificate.
- Flood, bushfire and storm surge are not covered for the first 72 hours of a new policy unless it follows directly after another policy.
The policy
“Property Covers insured property like buildings, contents or stock, for damage from fire, flood, storms and other covered causes.”
Source: nrma.com.au/business-insurance/retailers · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“This product is designed to be distributed by us or our distributors by any of the following means, where authorised: – Online through relevant websites – By contacting a branch or contact centre – In person (e.g. branch, agency or premises visit)”
Source: iag.com.au/tmd/TMDBU001 · Confirmed on the insurer's page on 13 November 2026.
Flood
“Delay of cover We will not provide any cover, for a period of 72 hours from the time of the commencement of Your insurance, for Damage or loss caused by: a) bushfire or grassfire, c) Flood, or d) Storm Surge.”
Source: nrma.com.au/business-policy · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“if the total combined Property Insured Sum Insured as shown in Your Certificate of Insurance is greater than $250,000, then the most We will pay in respect of Accidental Damage will be $250,000.”
Source: nrma.com.au/business-policy · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Unless We otherwise agree in writing, We will not pay for any loss or Damage to Property Insured if the occurrence happens whilst Your Business Premises has been unoccupied for more than 90 consecutive days.”
Source: nrma.com.au/business-policy · Confirmed on the insurer's page on 13 November 2026.
NRMA Insurance Residential Strata Insurance
- Type
- Residential strata · Residential
- Sold
- Direct
- Flood
- Included, can be removed
- Accidental damage
- Included
- Left empty
- No cover after 60 days. You must tell the insurer. Only if the property is completely unoccupied and not kept in a lived-in state (lawns mowed, mail stopped, someone checking inside and out weekly).
- Who it is for
- Strata-titled, company-titled or community-titled entities responsible for insuring buildings used predominantly for residential purposes; not individual owners or predominantly commercial buildings.
- Documents
- Residential Strata Insurance Product Disclosure Statement and Policy Booklet (10 September 2023) · Supplementary Product Disclosure Statement (13 May 2024) · Target Market Determination (TMDRS003) (21 April 2024)
- Flood, rainwater run-off and storm surge cover can be removed only if the insured property is in NSW, ACT or TAS.
- Flood, storm and bushfire cover does not start until 72 hours after the policy begins (very limited exceptions).
The policy
“Need insurance for your strata scheme building? Get cover for fires, storms, accidental damage and more.”
Source: nrma.com.au/home-insurance/strata · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“Call 132 132”
Source: nrma.com.au/home-insurance/strata · Confirmed on the insurer's page on 13 November 2026.
Flood
“You may be eligible to remove cover from your Property and Common Contents insurance for loss or damage caused by Flood, Rainwater Run-off and Storm Surge (but not tsunami), if Your insured property is in NSW, ACT or TAS.”
Source: nrma.com.au/documents/strata/spds · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“We cover loss or damage caused by Accident.”
Source: nrma.com.au/documents/strata/pds · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Your Property being completely unoccupied for 60 or more consecutive days and not maintained in a lived-in state by:”
Source: nrma.com.au/documents/strata/pds · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Buildings that are Strata titled, Company titled, registered as Community or Neighbourhood Associations or form part of a registered Stratum”
Source: iag.com.au/tmd/TMDRS003 · Confirmed on the insurer's page on 13 November 2026.
Who underwrites and sells it
Underwriter
“This Product Disclosure Statement (PDS) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as NRMA Insurance.”
Source: nrma.com.au/content/dam/insurance-brands-aus/nrma/au/en/documents/home/nrma-home-pds-nrmahompds-rev2-0923.pdf · Confirmed on the insurer's page on 13 November 2026.
Insurance Australia Limited: licence
- AFS licence
- 227681 · INSURANCE AUSTRALIA LIMITED
- ABN
- 11000016722
- Licensed since
- 28 July 2003
- Principal business
- Sydney NSW 2000
- General insurance
- Licensed to deal in general insurance products
From ASIC's AFS Licensee dataset, release of 11 November 2026, Creative Commons Attribution 3.0 Australia.
Deep Almanac is a secondary source and this page is provided for general information and reference. It is not financial, investment, legal, valuation, educational or other professional advice, and it is not a substitute for checking the original source. What each policy covers and who underwrites it are read from each insurer's own documents by hand and re-checked daily, so a change can take a day to appear, and the policy wording you are issued is what applies to you. You are responsible for any decision you or your software makes in reliance on this page. See our terms of use.