Budget Direct Landlord Insurance Review

Budget Direct landlord insurance is good if you want discounts and a trusted, popular insurer.

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Our Verdict

  • Budget Direct landlord insurance comes with a 15% online discount. That's about as good an online offer as you'll get, similar to other providers such as Virgin and Domain.
  • It gives you $1,000 towards replacing locks — that's $500 more than some insurers including Youi and Domain.
  • Its policies are underwritten by Auto & General Insurance Company Limited who also underwrite Virgin and Qantas, meaning they're quite similar.

Review by our insurance writer Gary Hunter

warningSome landlord insurance policies have temporarily removed benefits such as rent default and a few others because of the pandemic. Make sure to check this with the insurer before deciding on a policy.

Current offer for Budget Direct landlord insurance


15% online discount on landlord insurance

Save 15% on your first year's premium when you purchase cover online. T&Cs apply.

Get landlord insurance quotes from Budget Direct

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


10% of the sum insured amount of your property
21 days
Save 15% on your first year's premium when you purchase cover online. T&Cs apply.

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What does Budget Direct landlord insurance cover?

There are three levels of landlord cover available with Budget Direct: building insurance, contents insurance, and combined building and contents insurance.

Here's some of the main events a policy can cover you for:

It's underwritten by Auto & General Insurance Company Limited and comes with a cooling-off period of 21 days. This means if you want to cancel within this timeframe from taking out a policy, you won't be charged, as long as you haven't made a claim. You'll also need to pay an excess when you make a claim.

Budget Direct landlord insurance features

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Standard features

We've highlighted some of the features that Budget Direct will cover you for if you make a claim for an insured event like a fire, storm or theft.
  • Open air contents cover
  • Replacement of locks and stolen keys
  • Lost rental income and damage to some content
  • Modifications to your home to support paraplegia or quadriplegia
  • Food spoilage

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Optional add-ons

Like many other insurers, Budget Direct lets you update your landlord cover with the following protections:
  • Tenant default
  • Flood cover
  • Theft and malicious damage by tenants
  • Sum insured safeguard

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Budget Direct's general exclusions are similar to other insurers. Here's some of the main events you won't be covered for:
  • Action of the sea
  • Items covered by an insurance policy taken out by a body corporate or similar body
  • Wear and tear
  • A property that has been unoccupied for longer than 90 consecutive days
  • Inherent defects
  • Asbestos
  • Tree roots
  • Breaking the law

Make sure you read Budget Direct's PDS for a full list of general exclusions.

Budget Direct landlord insurance complaints

We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July to December 2020. The data breaks down different underwriters and compares their business size to the number of complaints processed.

When comparing insurers, keep in mind that insurers with a larger market share serve more customers so can potentially get more complaints.

Here's an overview of how Budget Direct (which is underwritten by Hollard) did. It includes other brands underwritten by Hollard so keep in mind that the total number of complaints is not necessarily all for Budget Direct:

Here are some things we noticed about Budget Direct and their underwriter:

  • Budget Direct could be a good option if you value good customer service. It had significantly less complaints lodged compared to Westpac, who are of a similar size.
  • It didn't get many complaints at all in the period we looked at – a total of 2 – which suggests customers are happy with its service.

Bottom line about Budget Direct landlord insurance

Budget Direct is good if you want an affordable policy with one of Australia's most popular insurers. It has very few complaints and covers you for the basics, though if you want to get covered for extras like tenant default, you'll need to pay extra.

To compare Budget Direct's landlord insurance policies side-by-side with other providers, you can head here.

FAQs about Budget Direct landlord insurance

Budget Direct landlord insurance reviews

If you've held or currently hold a Budget Direct landlord insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Budget Direct is right for them. Some reviews are from a survey commissioned by Finder.

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