QBE Landlord Insurance Review

QBE landlord insurance is good if you want comprehensive cover but you can get bigger online discounts elsewhere.

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Our Verdict

  1. QBE landlord insurance covers you for up to $30 million in legal liability — that's $10 million more than most insurers we looked at.
  2. It comes with environmental upgrades cover — lots of other insurers don't offer this.
  3. Its 10% online discount isn't the best offer out there — competitors including Budget Direct, Domain and Australian Seniors all offer more.

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 QBE Landlord Insurance

Deal

Get 10% off your first years’ premium with QBE Landlord Insurance

Discount is for new customers who sign up online. Terms and conditions apply.

Get landlord insurance quote from QBE

Name Product Fire, Storm & Theft Damage Tenant Default and Damage Loss of Rent Accidental Damage to Home or Belongings Flood
QBE Landlord Insurance
Yes
Save 10% on your first years’ premium with QBE Landlord Insurance.
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Landlord insurance you can get through QBE

QBE offers three cover types under landlord insurance:

Buildings and contents

This can cover you for the cost of repairs to your property as well as replacement costs if an insured event, such as storm, fire, theft, or flood, damages or destroys it. This includes protection against theft or damages caused by tenants. It will also cover the contents of your property. It can also cover you for loss of rent if your property becomes uninhabitable.

Buildings cover only

If your rental property is unfurnished, a buildings cover policy makes sense since it will cover you for the residential building which includes any fixed items like sheds and built-in swimming pools.

Contents cover only

If your rental property is in a strata building, then a contents-only policy can look after the belongings inside the home. This is particularly helpful if the property is furnished and can cover you for insured events like fires, theft and more.

How does the coverage compare under Landlord Insurance?

To help you understand what you're covered for, we've checked out the QBE Landlord Insurance Product Disclosure Statement (PDS) and made a list of the insured events.

Insured eventBuildings and contentsBuildings cover onlyContents cover only
Fire
Theft
Storm
Flood
Lightning
Earthquake or tsunami
Escape of liquid
Accidental glass breakage
Malicious act
Collision
Falling tree or branch
Electrical motor burnout
Damage by animals
Explosion
Riot
Accidental damage

The list below outlines some of the added benefits of a QBE Landlord Insurance policy.

More benefitsBuildings and contentsBuildings cover onlyContents cover only
Emergency temporary repairsReasonable costReasonable costReasonable cost
Temporary storage of contentsUp to 24 months or 20% of your contents sum insured
Up to 24 months or 20% of your contents sum insured
Mortgage discharge$2,000$2,000
Environmental upgrades
$2,500$500 per item or $2,500
Loss of rent – formal lease
Up to 24 months of rent or 20% of your buildings sum insuredUp to $25,000 or 20% of your contents sum insured
Loss of rent – casual letUp to 12 months of rent or $25,000Up to 12 months of rent or $25,000Up to 12 months of rent or $25,000
Building materials awaiting installation$2,000$2,000
Clean-up costs following a death$35,000$35,000$35,000
Chemical decontamination costs$35,000$35,000$35,000
Damage by tenants’ pets$4,000$4,000$4,000
Loss of rent due to forced evacuation by government authorityCost of rent – up to 60 daysCost of rent – up to 60 daysCost of rent – up to 60 days
Damage by emergency services
Legal liability$30,000,000$30,000,000$30,000,000

If you choose to add 'rental default' cover to your policy, you'll be covered for the following;

Optional – Rent default by tenant Buildings and contentsBuildings cover onlyContents cover only
Tenant leavesUp to 15 weeks of rent or $15,000Up to 15 weeks of rent or $15,000Up to 15 weeks of rent or $15,000
Failure to vacateUp to 15 weeks of rent or $15,000Up to 15 weeks of rent or $15,000Up to 15 weeks of rent or $15,000
Death, murder or suicide at the property addressUp to 15 weeks of rent or $15,000Up to 15 weeks of rent or $15,000Up to 15 weeks of rent or $15,000
Release from lease obligation due to hardship or family domestic violenceUp to 6 weeks of rent or $6,000Up to 6 weeks of rent or $6,000Up to 6 weeks of rent or $6,000
Legal costs$6,000$6,000$6,000

Excess with QBE Home Insurance

Whenever you make a claim on your insurance, you usually have to pay an excess – the amount you need to contribute towards the costs of repairs or replacement. With QBE, the following excesses may apply:

  • Basic excess. This applies to all claims unless QBE lets you know otherwise.
  • Imposed excess. This is sometimes applied depending on your claims history.
  • Renovation, alteration, addition or repair excess. This applies when QBE has agreed to cover you while you're undertaking renovations, alterations, additions or repairs at the insured address and damage occurs that's covered by certain insured events like a fire or escape of water and is a result of work being carried out.
  • Unoccupied property excess. This applies to certain insured events when you don't tell QBE that your rental property will be unoccupied for more than 90 consecutive days, and you make a claim for an incident that occurs after this time. The excess may increase if the property is unoccupied for 366 days or more.
  • Unoccupied property excess for agreed period. This applies to certain insured events when you've told QBE about your rental property being unoccupied for more than 90 consecutive days and you make a claim for an incident that occurs more than 90 days after the property was first unoccupied.

Making a claim with QBE

To make a QBE Landlord Insurance claim, take the following steps:

  • As soon as it is safe to do so and if possible, take steps to prevent further loss or damage to your property.
  • Report the incident to the police if something was lost or stolen and get a copy of the report to send to QBE.
  • As soon as you can, you can call QBE on 133 723 to make your claim. Alternatively, you can lodge it online at qbe.com/au.

Frequently asked questions

Can I get cover for loss of rental income?

Yes. QBE covers loss of rental income if your property becomes unliveable due to an insured event (e.g. your tenants are unable to safely live at the property).

Does QBE Landlord Insurance offer flood cover?

Yes. A QBE Landlord Insurance property will cover you for damage caused by storm, storm surge, rain, hail or flood.

Does QBE also offer home insurance?

Yes. You can find out more about its home insurance policy here.

What company underwrites QBE Landlord Insurance?

QBE Landlord Insurance is issued and underwritten by QBE Insurance (Australia) Limited.

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