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.

Does landlord insurance cover damage caused by a tenant's pet?

No, many standard landlord insurance policies exclude damage caused by a tenant's pet unless you have added specific 'pet damage' cover to your policy. Some comprehensive insurers include a limited amount of cover, often up to $4,000, to repair items like scratched floors or chewed skirting boards.

Will my landlord insurance cover short-term rentals like Airbnb?

No, standard landlord insurance is designed for fixed-term residential leases and typically excludes properties used for short-term holiday letting or Airbnb. You generally need a specialised host insurance policy or a short-term rental add-on to ensure you are covered for guest-related damage and liability.

Do I need landlord building insurance if my property is in a strata scheme?

No, you generally do not need separate building insurance because the strata corporation is responsible for insuring the main structure and common areas of the complex. However, you should take out landlord contents insurance to cover your internal fittings, floor coverings, curtains and public liability within your specific unit.

Does landlord insurance cover the cost of meth lab decontamination?

Yes, many comprehensive landlord insurance policies include cover for the cost of chemical decontamination if your property is used as a clandestine drug laboratory. Coverage limits vary between insurers but typically range from $20,000 to $50,000 to cover cleaning, testing and restoration of the premises.

Can I claim for rent default if I do not have a written lease agreement?

No, most Australian insurers require a valid, signed residential tenancy agreement to be in place at the time of the loss to pay out a rent default claim. Without a written contract that specifies the rent amount and lease term, you may find it difficult to prove the financial loss to your insurer.

Does landlord insurance pay for the legal costs of evicting a tenant?

Yes, many landlord insurance policies include a benefit for legal expenses related to eviction proceedings or tribunal hearings. This cover usually applies if you are seeking to recover unpaid rent or to gain possession of the property following a breach of the tenancy agreement.

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 9 Excellent Youi Landlord Contents Insurance	Finder Score 9 Excellent	Optional	$2,000 per month			20 days	Get a quote View details Compare product selectionCompare	loading
Finder Score 9.9 Excellent QBE Landlord Home & Contents Insurance	Finder Score 9.9 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 View details 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 View details Compare product selectionCompare	loading
Finder Score 8.7 Great Youi Landlord Building and Contents Insurance	Finder Score 8.7 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 View details Compare product selectionCompare	loading
Finder Score 6.7 Standard Seniors Landlords Building & Contents Insurance	Finder Score 6.7 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 View details Compare product selectionCompare	loading
Finder Score 9.9 Excellent QBE Landlord Contents Insurance	Finder Score 9.9 Excellent	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 View details Compare product selectionCompare	loading
Finder Score 9.9 Excellent QBE Landlord Home Insurance	Finder Score 9.9 Excellent	Optional	The lesser of: Up to 24 months of lost rent, or 20% of your sum insured amount			21 days	Save 10% on your Landlord Building Insurance policy in the first year for signing up online. T&Cs apply.	Get a quote View details Compare product selectionCompare	loading
Finder Score 6.8 Standard Seniors Landlords Building Insurance	Finder Score 6.8 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 View details Compare product selectionCompare	loading
Finder Score 8.7 Great Youi Landlord Building Insurance	Finder Score 8.7 Great	Optional	10% of the buildings sum insured			20 days	Get a quote View details Compare product selectionCompare	loading
Finder Score 8.4 Great Budget Direct Landlord Contents Insurance	Finder Score 8.4 Great	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 View details 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.

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.

Managing insurance for your property portfolio

For professional investors, managing multiple individual policies can become a significant administrative burden. Dedicated multi-property landlord insurance offers a streamlined solution through portfolio coverage and consolidated management.

Administrative efficiency and portfolio management

One of the primary benefits of a multi-property policy is the administrative relief it provides. By aligning all renewal dates to a single day, you can significantly reduce the time spent tracking different expiries and processing multiple payments. This unified approach ensures that no property in your portfolio accidentally goes uninsured due to a missed renewal.

Cost savings through multi-property bundling

Beyond the convenience of consolidated management, professional investors can access specific cost savings by bundling multiple properties under one insurer. Many Australian providers offer percentage-based discounts for portfolios that are not available for individual policies.

According to data from the Property Investment Professionals of Australia (PIPA), typical landlord insurance rates in Australia range from $800 to $2,200 per year. Lower-risk metropolitan apartments usually sit between $800 and $1,200, while high-risk houses in weather-prone areas can reach $1,500 to $2,200 or more. Using these benchmarks allows you to budget for your portfolio and calculate the potential impact of a multi-property discount before the base premium is applied.

**Single Property vs Multi-Property Structures**
Feature	Single-Property Policy	Multi-Property Portfolio Structure
Renewal Dates	Separate dates for every property	One single renewal date for the portfolio
Administration	Multiple invoices and documents	Unified billing and consolidated documentation
Cost Efficiency	Standard retail pricing	Potential for multi-policy bundling discounts
Claims Process	Managed individually per policy	Streamlined process across the whole portfolio
Liability Limits	Individual limits per property	Option for unified or higher aggregate liability

Understanding and mitigating tenant risk

Protecting your cash flow is a primary motivation for most investors, especially when a single event can impact a wider portfolio. The scale of this risk is evident in industry figures from 2023, where EBM RentCover settled over 5,600 claims worth $49.3 million. The average claim was approximately $8,800, with loss of rent representing the largest category at $19 million.

Tenant-related concerns remain a high priority for Australian landlords. A QBE survey from April 2025 found that 35% of Australian landlords have experienced a tenant falling behind in rent. Furthermore, 59% of respondents cited safeguarding against unknown tenants as their primary motivation for taking out insurance. These statistics validate that the fear of rent default is a significant concern that multi-property policies are specifically designed to mitigate.

"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
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...
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...
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

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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.