What insurance do landlords need in Australia?

There are no legal requirements for landlord insurance in Australia but it’s certainly a good idea to consider it. A landlord building insurance policy can protect your investment from unexpected damages occurring from events like storms, fires and cyclones. Most landlord policies also have an option to include cover for loss of rent and malicious damage from tenants. A contents policy could protect items like the oven, dishwasher and more.

Is landlord insurance different to building insurance?

Yes. Landlord insurance can cover you for landlord specific things like loss of rental income, whereas a regular building insurance policy is designed for homeowners who are living in their home. Both types of insurance cover the actual building from unexpected damages like storms and fires but only landlord insurance will cover you for rental specific needs.

Which insurance is best for an investment property?

A landlord insurance policy could be suitable for your investment property, provided it is tenanted. Depending on the level of cover you buy, landlord insurance can include cover for; the building, the contents, rental specific needs like loss of rental income and malicious damage.

Compare landlord insurance in Australia

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Finder Score	Tenant Default and Damage	Loss of Rent	Accidental Damage	Sum Insured Safeguard	Cooling-off Period
Finder Score 8.2 Great Youi Landlord Building and Contents Insurance	Finder Score 8.2 Great	Optional	The reasonable rental amount for up to 12 months			20 days	Cover for investment property from fire, theft and numerous weather events.	Get a quote More info Compare product selectionCompare	loading
Finder Score 8.5 Great Budget Direct Landlord Home & Contents Insurance	Finder Score 8.5 Great	Optional	10% of the sum insured amount of your property	Optional	Optional	21 days	Save 30% on your first year's premium when you buy a combined home and contents policy online. T&Cs apply.	Get a quote More info Compare product selectionCompare	loading
Finder Score 9.8 Excellent QBE Landlord Home & Contents Insurance	Finder Score 9.8 Excellent	Optional	The lesser of: Up to 24 months of lost rent, or 20% of your sum insured amount			21 days	Get 10% off for buying a combined policy, plus an additional 10% in the first year for signing up online. T&Cs apply.	Get a quote More info Compare product selectionCompare	loading
Finder Score 6 Standard Seniors Landlords Building & Contents Insurance	Finder Score 6 Standard		The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent			14 days	Save 5% when you buy a combined building and contents policy. The discount will apply to the first 12 months of your Seniors Landlords Insurance policy. The discount will be reapplied for 12 months each time your Seniors Landlords Insurance policy is renewed. T&Cs apply.	Get a quote More info Compare product selectionCompare	loading
Finder Score 7.3 Great Qantas Landlord Home and Contents Insurance	Finder Score 7.3 Great	Optional	Up to 10% of your sum insured	Optional	Optional	21 days	Earn up to 40,000 Qantas Points with every Qantas Landlord Insurance policy you take out by 28 January. T&Cs and exclusions apply.	Get a quote More info Compare product selectionCompare	loading
Finder Score Not scored yet Youi Landlord Building Insurance	Finder Score Not scored yet	Optional	10% of the buildings sum insured			20 days	Get a quote More info Compare product selectionCompare	loading
Finder Score Not scored yet Youi Landlord Contents Insurance	Finder Score Not scored yet	Optional	$2,000 per month			20 days	Get a quote More info Compare product selectionCompare	loading
Finder Score Not scored yet Budget Direct Landlord Contents Insurance	Finder Score Not scored yet	Optional	No	Optional		21 days	Save 15% on your first year's premium when you buy a contents insurance policy online. T&Cs apply.	Get a quote More info Compare product selectionCompare	loading
Finder Score Not scored yet Budget Direct Landlord Building Insurance	Finder Score Not scored yet	Optional	10% of the sum insured amount of your property	Optional	Optional	21 days	Save 15% on your first year's premium when you buy a home only policy online. T&Cs apply.	Get a quote More info Compare product selectionCompare	loading
Finder Score Not scored yet QBE Landlord Contents Insurance	Finder Score Not scored yet	Optional	The lesser of: Up to 24 months of lost rent, or 20% of your contents sum insured			21 days	Save 10% on your Landlord Contents Insurance policy in the first year for signing up online. T&Cs apply.	Get a quote More info Compare product selectionCompare	loading

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Landlord insurance is different to regular building insurance because it can include landlord specific coverage, like loss of rent and malicious damage.
Landlord insurance can protect the building only, or you can opt for a contents policy too which would protect things like your oven, dishwasher and more.
There are ways to save on your policy. Either via discounts or other tips and tricks.

What does landlord insurance cover?

Every policy varies but typically, you can expect to find the following inclusions, exclusions and optional extras:

Event	Landlord building insurance	Landlord contents insurance	Landlord combined building and contents insurance
Storm damage
Fire damage
Earthquake
Theft (by someone other than your tenant)
Vandalism and malicious acts (by someone other than your tenant)
Legal liability cover
Impact damage
Escape of liquid
Lease break and loss of rent
Legal action against bad tenants
Flood damage	Optional extra	Optional extra	Optional extra
Rent default	Optional extra	Optional extra	Optional extra
Motor burnout	Optional extra	Optional extra	Optional extra
Accidental damage and breakage to glass and ceramics	Optional extra	Optional extra	Optional extra

To see exactly what you’re covered for, read the product disclosure statement (PDS) on the provider’s website.

How to save on your landlord insurance policy

Whether you’re after a building only policy, contents only or combined policy, there are three main ways to save money.

Get quotes from at least 5 different insurers.

This will help you know what’s available to you and give you the knowledge you need to negotiate a better deal.

Get on the phone.

Insurers are usually happy to negotiate on price if you call them up to talk through your options. Saying something as simple as; “This quote is a bit out of my budget, is there any flexibility on that price?” can get them to reduce it on the spot.

Look for sign up deals and discounts.

Plenty of insurers offer sign up discounts to new customers. These can be pretty generous too! A 20% discount can save you hundreds.

"The insurance premiums on my investment property have been going up signifigantly year on year. This year it was crazy and prompted me to start getting quotes from other providers. By shopping around I managed to save a couple of hundred bucks each month! "

Matt Corke

Head of Publishing Ventures

Deals and discounts for landlord insurance policies

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Name
30% online discount on new home and contents landlord insurance Save 30% on your first year's premium when you purchase a new combined home and contents landlord insurance policy cover online. T&Cs apply. Get deal Get deal		loading Fetching your data...
Get up to 20% off your first years’ premium with QBE Landlord Insurance Discount is made up of a 10% online discount, and a further 10% for buying a combined policy. T/Cs apply. Get deal Get deal		loading Fetching your data...
Buy online and save up to 5% on a Seniors Landlords Insurance policy with Australian Seniors The discount will apply to the first 12 months of your Seniors Landlords Insurance policy. The discount will be reapplied for 12 months each time your Seniors Landlords Insurance policy is renewed. T&Cs apply. Get deal Get deal		loading Fetching your data...

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Frequently asked questions

There are no legal requirements for landlord insurance in Australia but it’s certainly a good idea to consider it. A landlord building insurance policy can protect your investment from unexpected damages occurring from events like storms, fires and cyclones. Most landlord policies also have an option to include cover for loss of rent and malicious damage from tenants. A contents policy could protect items like the oven, dishwasher and more.
Yes. Landlord insurance can cover you for landlord specific things like loss of rental income, whereas a regular building insurance policy is designed for homeowners who are living in their home. Both types of insurance cover the actual building from unexpected damages like storms and fires but only landlord insurance will cover you for rental specific needs.

The lowdown on Finder Score

We review over 40 landlord insurance products for home and contents, evaluating them for pricing and key features. Each feature is weighted and scaled to generate a Finder Score. To calculate the average pricing, we analyse quotes across eight personas across five states.

The Finder Score methodology is designed by our Insights team. Commercial partners carry no weight and all products are reviewed objectively.

Digging deeper into the Finder landlord insurance score

9+ Excellent - These policies offer an outstanding balance of affordability and features, making them top-tier options.
7+ Great - Solid choices that provide good value with a strong mix of coverage and cost.
5+ Satisfactory - These products offer the essentials, but may fall short on features or come at a higher price.
Less than 5 – Basic - Less competitive options that may be costly, limited in features, or both.

Sources

Thank you for your feedback!

Written by

Peta Taylor

Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio

More resources on Finder

Compare landlord insurance

Landlord insurance can protect your investment properties, and contents, like kitchen appliances too.