Listed Events vs Accidental Damage

Listed events and accidental damage are two types of property insurance coverage. A listed events policy only covers specific events named in the policy (like fire, storm, theft). An accidental damage policy is broader and covers unexpected or unintentional damage, even if the cause isn’t specifically listed.

The difference comes down to what triggers a claim. With listed events, it has to match one of the named events. With accidental damage, it just has to be unexpected and unintentional.

Why It Matters

• The type of cover you choose directly affects whether a claim gets paid or not. If the cause of damage isn’t on the listed events schedule, the insurer won’t pay.
• Accidental damage policies are more comprehensive but typically cost more.
• For high-value assets like investment properties, the difference in premium is often small compared to the broader protection.
• Many people choose listed events because the premium is cheaper, without understanding the trade-off in cover.

Show Transcript

Are you a property investor? Well, this tip is for you when it comes to insurance. We speak to people all the time and one of the questions that come up a lot of the time is what's the difference between a listed events policy and an accidental damage policy. In short, it's in the name. Listed events means that you're covered for the events that are listed down there and it's generally on the policy in the PDS. In saying that, it is a more cost effective type of policy and it's generally cheaper. So, a lot of the time people will opt for that type of policy because they see the price there as being cheaper. On the other hand, you've got an accidental damage type of policy and this is more comprehensive. It's broad and it covers unexpected or unintentional damage. Now, of course, broader coverage means that generally speaking, it comes with a higher price. It's not too much more, but a lot of the time people see the price on an accidental damage policy and they'll lean more towards listed events. Obviously, the choice is ultimately up to you. But one thing I will say is, especially for an investment property, you're talking about an asset that you know could be worth half a million dollars upwards. It's a very large investment. And the difference in the couple of hundred to make sure that you've got coverage for any event that pops up in my eyes is a no-brainer. But hope that helps. The difference between accidental damage and listed events. Thanks guys.

Side-by-Side Comparison

Feature	Listed Events	Accidental Damage
What's covered	Only events specifically named in the policy	Any sudden, unexpected, or unintentional damage (unless excluded)
Common covered events	Fire, storm, theft, lightning, explosion, impact damage	All of the above, plus accidental breakage, water damage, and more
Cost	Lower premium	Higher premium (but often only marginally more)
Best for	Budget-conscious policyholders willing to accept narrower cover	Property owners who want comprehensive protection

Simple Examples

• A tenant accidentally drives a car into the front fence of a rental property. Under an accidental damage policy, this would typically be covered. Under a listed events policy, it may not be unless “impact damage” is listed.
• A water pipe bursts inside a commercial building, damaging the flooring. Accidental damage would likely cover it. Listed events would only cover it if “burst pipes” or “water damage” is on the schedule.

Common Mistakes or Misunderstandings

• Choosing listed events purely on price. The premium difference is often small, but the coverage difference can be significant at claim time.
• Assuming listed events covers everything common. Flood is often excluded or optional even on listed events policies. Always check what’s included.
• Not reading the PDS. The specific events covered (and excluded) vary between insurers. Your policy wording is the definitive source.
• Thinking accidental damage means everything is covered. Accidental damage policies still have exclusions. Wear and tear, gradual damage, and intentional damage are never covered.

When to Speak to a Broker

If you’re not sure which type of cover is right for your property, or you want to understand what specific events are included or excluded on your policy, a broker can compare the options side by side and recommend the right fit.

Need help?

Want to compare listed events and accidental damage options for your investment property or commercial property? Reach out to Tank Insurance and we’ll help you choose.

Related Terms

• Policy Wording - The policy wording defines exactly which events are covered under a listed events policy.
• Flood Insurance - Flood cover is often sold as an add-on or may be excluded entirely, regardless of whether you have listed events or accidental damage.
• Insurance Premium - The type of cover you choose directly affects your premium. Accidental damage costs more but provides broader protection.