P&N Bank building insurance: what each policy covers, and who underwrites it
2 building policies from P&N Bank. 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
- pnbank.com.au/
- What it is
- Brand
- Listed on
- Houses and rental properties
- Underwriter
- Insurance Australia Limited
- APRA
- Authorised by APRA to write new general insurance (listed as Insurance Australia Limited)
- Sold by
- Police & Nurses Limited (P&N Bank) · AFSL 240701
Building policies
P&N Bank Home Insurance (building cover)
- Type
- Home building · Residential
- Sold
- Not stated
- Levels of cover
- Building Standard, Building Plus
- Building valued as
- Sum insured, + 25% option
- Flood
- Included
- 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).
- Documents
- Home Insurance Product Disclosure Statement and Policy Booklet (24 February 2025) · Key Facts Sheet - Home Building (10 August 2026)
- The 25% Safety net (extra cover on top of the building sum insured) is available only with Building Plus; Building Standard is sum insured only.
- Accidental damage is an optional extra on both levels.
The policy
“This Product Disclosure Statement (PDS) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 under the CGU brand”
Source: cgu.com.au/documents/pnbank/home/pds · 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: cgu.com.au/documents/pnbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
Flood
“Covered as Flood or Rainwater Run-off.”
Source: cgu.com.au/documents/pnbank/home-building/kfs · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“Cover Building Plus Contents Plus Building Standard Contents Standard Accidental damage – at Your Home Optional Optional”
Source: cgu.com.au/documents/pnbank/home/pds · 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 in a lived-in state by:”
Source: cgu.com.au/documents/pnbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
P&N Bank Landlord Insurance (building cover)
- Type
- Landlord · Residential
- Sold
- Not stated
- Building valued as
- Sum insured, optional buffer
- Flood
- Included
- 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).
- Documents
- Landlord Insurance Product Disclosure Statement and Policy Booklet (24 February 2025)
- Safety net (extra cover if rebuild costs exceed the building sum insured) is an optional benefit on the landlord policy.
The policy
“This Product Disclosure Statement (PDS) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 under the CGU brand”
Source: cgu.com.au/documents/pnbank/landlord/pds · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“Cover Building Contents Rent default Optional Optional Safety net Optional”
Source: cgu.com.au/documents/pnbank/landlord/pds · Confirmed on the insurer's page on 13 November 2026.
Flood
“Cover for loss or damage to Your Rental Property and Contents Accidental breakage of glass Animal damage Damage by occupant Deliberate or intentional act Earthquake Electrical motor burnout Escape of water or liquid Explosion Fire Flood or Rainwater Run-off Impact”
Source: cgu.com.au/documents/pnbank/landlord/pds · 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: cgu.com.au/documents/pnbank/landlord/pds · 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 under the CGU brand”
Source: cgu.com.au/documents/pnbank/home/pds · Confirmed on the insurer's page on 13 November 2026.
Who sells it
“Police & Nurses Limited (P&N Bank) ABN 69 087 651 876, AFSL 240701 acts under its own AFSL and under an agreement with the issuer Insurance Australia Limited ABN 11 000 016 722, AFSL 227681, under the CGU brand in distributing Home Insurance.”
Source: cgu.com.au/documents/pnbank/home/pds · 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.
Distributor's licence
- AFS licence
- 240701 · POLICE & NURSES LIMITED
- ABN
- 69087651876
- Licensed since
- 19 January 2004
- Principal business
- Perth WA 6000
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.