Do I need landlord insurance?

Clear and simple steps to find out if you need landlord insurance.

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Figuring out if you need landlord insurance can be a little daunting at first. It often seems like there are lots of different types of cover and it's not always clear if you need them all.

Luckily, it's not actually that complicated. To find out if you need landlord insurance (and if so what type do you need) just ask yourself these 3 questions:

1. Do you have strata insurance?

Strata insurance, sometimes called body corporate insurance, covers residential buildings, parking and shared areas. One policy is designed to cover multiple properties within one building or block of land.

Who needs it?

  • If you own a townhouse, unit, apartment or duplex, you probably need strata insurance.
  • If you own any other type of property, you won't be covered by strata insurance.

If you fall into the second category, you will likely need landlord insurance – in particular, you will need landlord building insurance.

Strata insurance and landlord building insurance are both designed to cover the physical structure of the property. This can include:


The building itself

plumbing systems

Pipes, cables and plumbing system

Swimming pool

Some external structures such as built-in swimming pool

2. Is your property furnished?

If you have a furnished property, you will need landlord contents insurance as well. It can pay to repair or replace any of your damaged or destroyed items you keep at the property.

Even if you have an unfurnished property, you might still need contents cover. For example, carpets, blinds, air conditioning units and white goods such as washing machines are generally included in contents insurance.

Here are some examples of what you will likely need, depending on the type of property you own:

  • Furnished townhouse, unit, apartment or duplex = strata insurance + landlord contents insurance
  • Unfurnished apartment = strata insurance + possibly landlord contents insurance
  • Other unfurnished buildings = landlord building insurance
  • Furnished buildings = combined landlord building + contents insurance

3. What risks does your property need to be covered for?

For example, do you live in a flood-prone area or somewhere where bushfires or burglary are common? You'll want to make sure your policy covers the risks associated with your property. To help you work out what landlord insurance you need, here's a breakdown of what's commonly covered, available as an add-on (you'll need to pay extra for it) and always excluded.

Commonly covered

  • Fires
  • Storms
  • Malicious damage
  • Theft
  • Escape of liquid
  • Temporary accommodation
  • Mortgage discharge costs
  • Legal liability

Available as an add-on

  • Loss of rent
  • Motor burnout
  • Tenant default
  • Accidental damage
  • Sum insured safeguard


  • Wear and tear
  • Mould (unless the mould was covered by an insured event)
  • Damage caused by vermin, insects or rodents
  • Damage caused by movement of the sea
  • Regular maintenance
  • Your tenant's belongings
  • Building defects

Ready to compare landlord insurance?

1 - 3 of 8
Name Product Tenant Default and Damage Loss of Rent Accidental Damage Sum Insured Safeguard Cooling-off Period Cheapest way to pay
Budget Direct Landlord Home & Contents Insurance


10% of the sum insured amount of your property
21 days
Save 30% on your first year's premium when you buy a combined home and contents policy online. T&Cs apply.
Youi Landlord Building and Contents Insurance


The reasonable rental amount for up to 12 months
20 days
Cover for investment property from fire, theft and numerous weather events.
Qantas Landlord Home and Contents Insurance


10% of the sum insured amount of your property
21 days
Earn up to 20,000 Qantas Points when you apply. Points awarded will be based on your premium. T&Cs & exclusions apply.

Compare up to 4 providers

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