RACT building insurance: what each policy covers, and who underwrites it
3 building policies from RACT. 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 RACT Insurance Pty Ltd.
- Website
- ract.com.au/
- What it is
- Insurer
- Listed on
- Houses and rental properties, Apartment and unit buildings (strata)
- Underwriter
- RACT Insurance Pty Ltd
- APRA
- Authorised by APRA to write new general insurance (listed as RACT Insurance Pty. Ltd)
Building policies
RACT Home, Contents and Portable Items Insurance (Home Building cover)
- Type
- Home building · Residential
- Sold
- Direct
- Building valued as
- Sum insured + 25%
- Flood
- Included
- Accidental damage
- Optional extra
- Left empty
- Some events not covered after 60 days. Not covered then: fire (but not bushfire), escape of liquid, theft or burglary, intentional or malicious damage, explosion. You must tell the insurer. Unless you told RACT and it agreed (shown on the schedule). Otherwise RACT pays only the part of the loss you prove the vacancy did not cause.
- Who it is for
- Customers wanting cover for a home building in Tasmania (TMD).
- Sold in
- TAS
- Documents
- Home Insurance PDS (1 September 2021) (1 September 2021) · Supplementary PDS - Home Insurance (effective 9 November 2023) (9 November 2023) · Key Facts Sheet - Home Building (3 October 2023) (3 October 2023) · Target Market Determination - Home (effective 5 March 2026) (5 March 2026)
- The KFS (October 2023) says there is no cover for bushfire, tsunami, storm or flood in the first 72 hours of a new policy per the PDS (some exceptions apply).
- Optional Accidental Damage cover is not suitable for customers who have a renter, tenant, guest or boarder in any part of the home.
The policy
“This Product provides cover for loss or damage to home buildings, contents and/or portable items, which customers can choose from to meet their individual needs.”
Source: datocms-assets.com/49357/1772606459-home-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“Distribution of the Product is only conducted through: o Royal Automobile Club of Tasmania (RACT) call centres o RACT’s website o RACT’s store network”
Source: datocms-assets.com/49357/1772606459-home-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“Under this policy you set the maximum level of cover and the insurer may provide you with some agreed extra cover above that amount (Sum insured plus safety net).”
Source: datocms-assets.com/49357/1696328120-home-and-contents-insurance-key-fact-sheet-3-october-2023.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“Flood Yes Flood damage to loose or compacted materials, such as gravel, pebbles, rocks, bricks, sand or earth on roads, driveways or paths is not covered.”
Source: datocms-assets.com/49357/1696328120-home-and-contents-insurance-key-fact-sheet-3-october-2023.pdf · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“Optional cover – Accidental Damage This cover is suitable for: • Customers who need cover for loss or damage to their home or contents that is caused accidentally and unintentionally.”
Source: datocms-assets.com/49357/1772606459-home-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“If your home becomes unoccupied for more than 60 consecutive days, there is no cover for some insured events unless you have told us and we have agreed to cover this, and it is shown on your current schedule.”
Source: datocms-assets.com/49357/1626741248-racticdd002-home-insurance-pds-web-september-2021.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“The Product's Home Building and Contents covers provide cover against loss or damage to a customer's home building in Tasmania”
Source: datocms-assets.com/49357/1772606459-home-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
RACT Investor Insurance (Investor Basic and Investor Plus)
- Type
- Landlord · Residential
- Sold
- Direct
- Levels of cover
- Investor Basic, Investor Plus
- Building valued as
- Sum insured + 25%
- Flood
- Included
- Accidental damage
- Not stated
- Left empty
- Some events not covered after 60 days. Not covered then: fire (but not bushfire), escape of liquid, theft or burglary, intentional or malicious damage, explosion. You must tell the insurer. Unless you told RACT and it agreed (shown on the schedule). Otherwise RACT pays only if you prove no part of the loss was caused by the vacancy.
- Who it is for
- Landlords with a residential building used as a tenanted property in Tasmania (TMD).
- Sold in
- TAS
- Documents
- Investor Insurance PDS (1 September 2021) (1 September 2021) · Supplementary PDS - Investor Insurance (effective 9 November 2023) (9 November 2023) · Target Market Determination - Investor (effective 5 March 2026) (5 March 2026)
- Investor Plus adds cover for theft and malicious damage by tenants and loss of rent; Investor Basic is the standard cover for tenanted properties.
- No optional accidental damage cover is offered for tenanted homes (the Home TMD says Accidental Damage is not suitable where a tenant occupies part of the home).
The policy
“This Product provides cover to landlords for loss or damage to residential buildings that are used as tenanted properties and to the landlord's contents.”
Source: datocms-assets.com/49357/1772606459-investor-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“Distribution of the Product is only conducted through: o Royal Automobile Club of Tasmania (RACT) call centres o RACT’s website o RACT’s store network”
Source: datocms-assets.com/49357/1772606459-investor-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“An additional amount above your sum insured to: • repair damage; or • rebuild your building; when the cost of repairing or rebuilding your building following an insured event exceeds the sum insured. Limit: Up to 25% of the sum insured.”
Source: datocms-assets.com/49357/1626741279-racticdd002-investor-insurance-pds-web-september-2021.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“the following specified insured events: • Fire • Lightning • Earthquake or Tsunami • Storm • Flood”
Source: datocms-assets.com/49357/1772606459-investor-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“If your building becomes unoccupied for more than 60 consecutive days, there is no cover for some insured events unless you have told us and we have agreed to cover this, and it is shown on your current schedule.”
Source: datocms-assets.com/49357/1626741279-racticdd002-investor-insurance-pds-web-september-2021.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“This Product provides cover to landlords for loss or damage to residential buildings that are used as tenanted properties and to the landlord's contents.”
Source: datocms-assets.com/49357/1772606459-investor-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
RACT Strata Building Insurance
- Type
- Residential strata · Residential
- Sold
- Direct
- Flood
- Included
- Accidental damage
- Not stated
- Left empty
- Some events not covered after 60 days. Not covered then: fire (but not bushfire), escape of liquid, theft or burglary, intentional or malicious damage, explosion. You must tell the insurer. Only if the entire strata building is unoccupied; unless RACT agreed. Otherwise RACT pays the part of the loss you prove the vacancy did not cause.
- Who it is for
- Bodies corporate and owners of strata buildings in Tasmania wanting cover for loss or damage from specified insured events, plus office bearers' liability; not for buildings used for business, hotel, B&B or homeshare without RACT's agreement.
- Sold in
- TAS
- Documents
- Strata Building Insurance Product Disclosure Statement (1 September 2021) · Supplementary Product Disclosure Statement (1 November 2023) · Target Market Determination (5 March 2026)
- Cover is for specified insured events (fire, storm, flood, theft and so on); the PDS does not list accidental damage as a separate insured event.
- Flood, storm, bushfire and tsunami cover does not start until 72 hours after the policy begins (some exceptions).
- Safety net pays up to an extra 25% of the sum insured if the rebuild costs more.
The policy
“This Product provides cover for loss or damage to strata buildings, as well as associated costs and expenses.”
Source: datocms-assets.com/49357/1772606458-strata-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“Call us for a quote on 13 27 22”
Source: ract.com.au/insurance-and-finance/strata-insurance · Confirmed on the insurer's page on 13 November 2026.
Flood
“Loss or damage to your strata building caused by or resulting from flood.”
Source: datocms-assets.com/49357/1626741309-racticdd002-strata-pds-web-september-2021.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“If your entire strata building becomes unoccupied for more than 60 consecutive days, there is no cover for some insured events unless you have told us and we have agreed to cover this, and it is shown on your current schedule.”
Source: datocms-assets.com/49357/1626741309-racticdd002-strata-pds-web-september-2021.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Own a strata building as defined by the Strata Titles Act 1998 in Tasmania”
Source: datocms-assets.com/49357/1772606458-strata-tmd-5-march-2026.pdf · Confirmed on the insurer's page on 13 November 2026.
Who underwrites and sells it
Underwriter
“Underwritten by RACT Insurance Pty Ltd ABN 96 068 167 804 License No 229076.”
Source: datocms-assets.com/49357/1696328120-home-and-contents-insurance-key-fact-sheet-3-october-2023.pdf · Confirmed on the insurer's page on 13 November 2026.
RACT Insurance Pty Ltd: licence
- AFS licence
- 229076 · RACT INSURANCE PTY. LTD.
- ABN
- 96068167804
- Licensed since
- 16 June 2003
- Principal business
- Hobart TAS 7000
- 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.