IAG (Insurance Australia Group) have brought out a very different basic product called InsureLite. It’s very interesting. IAG is testing a “no-frills” home building policy ONLY on trial in Queensland before a planned national rollout. The InsureLite product is aimed at households that cannot afford traditional home building cover, or as IAG puts it, those suffering “home insurance affordability stress”. If a house is destroyed or deemed irreparable, the cover provides a new three-bedroom home built to the value of $150,000 or $200,000, as pre-selected by the customer, or a lump sum payment. Customers are not required to pay an excess. Instead they pre-select a minimum $5000 or $10,000 damage threshold. Once repairs reach that point, they can make a claim. Have a look at the website www.insurelite.com.au I'm going to ask them if they would consider something similar for Landlords as it would help stabilise rent increases.