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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

Optional

10% of the sum insured amount of your property
Optional
21 days
Annually
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

Optional

The reasonable rental amount for up to 12 months
20 days
Annually
Cover for investment property from fire, theft and numerous weather events.
QBE Landlord Home & Contents Insurance
The lesser of: Up to 24 months of lost rent, or 20% of your sum insured amount
21 days
Annually
Get 10% off for buying a combined policy, plus an additional 10% in the first year for signing up online. T&Cs apply.
Qantas Landlord Home and Contents Insurance

Optional

10% of the sum insured amount of your property
21 days
Annually
Earn up to 20,000 Qantas Points with every Qantas Landlord Insurance policy you take out by 22 April. T&Cs and exclusions apply.
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  • Our experts have done 100+ hours of policy research to help you understand what you're comparing.

James Martin, Gary Ross Hunter and Jessica Prasida

Meet our experts

Collectively, our experts have over 12 years of experience helping people find landlord insurance.

We've spent 50+ hours analysing landlord insurance policies, writing dozens of guides – we're passionate about presenting the most up-to-date and relevant information for you.

We can help provide answers during major weather events and natural disasters such as La Niña, the recent Australian floods or during bushfire season.

You can regularly catch our experts on TV shows such as Sunrise and 7News helping consumers to break down the finer points of insurance.

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I've just looked into the detail of 18 landlord insurance policies. There's quite a bit of difference in terms of what insurers will and won't cover you for. That's why it's really important you spend some time reviewing your options carefully. For example, very few insurers will automatically include cover for rent defaults made by tenants. In 15 of the 18 policies I analysed, you'd need to pay more to add this on to your policy.

Learn more about
landlord insurance

Our landlord insurance guides can help you compare and understand what cover option is right for you.

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Rent default
Find out how rent default works. Plus, how it differs from loss of rent

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What does landlord insurance cover?

Fire
Damage from unexpected events
For example, if a fire destroys your property, landlord insurance can pay to repair or rebuild it. All insurers cover a long list of unexpected events including fires, bushfires, storms, escaped water and theft.
Money loss
Loss of rent
For example, a burst pipe damages your property and the tenant can't live there. In most cases, landlord insurance covers up to (the lesser of) 1 year's lost rent, or 10% of the building sum insured.
Legal fees
Legal fees
It can cover legal expenses for up to $30 million if a tenant sues you after an incident at your property. Many policies also offer optional legal expenses cover, to protect you in case you have to evict a tenant.

Tips to save on landlord insurance

Number 1

Shop around

Landlord insurance costs are rising. However, you don't need to just accept price increases by auto-renewing your policy. When your renewal date approaches, shop around. You may be able to find a cheaper deal without losing the cover you rely on.

Number 2

Take advantage of sign-up discounts

Landlord insurers like to offer sign-up discounts to get you on board. Some can genuinely save you a lot of money, such as 15% off your first year. If you want to continue saving though, you can keep switching every 12 months. After all, a great deal today may not be so great next year.

Number 3

Increase your policy excess

This is how much you need to pay to contribute to the cost of a claim. All landlord insurance policies have them, but they vary greatly (from $100 to as much as $5,000). Most providers will let you increase your excess in return for cheaper premiums. There's downsides though – making a smaller-value claim may not be worth it. Also, you'll have to pay more upfront at claim time.

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As with any type of insurance, you take it out for your own safety. Fortunately, I've never had to make a claim on my policy. The cost hasn't changed for me that much in recent years. But that's a moot point anyway: I'd never go without landlord insurance due to the peace of mind it brings.

- Alan Lee, owner of 2 investment properties in Sydney.

Landlord insurance deals

Remember the exclusive deals and sign-up offers we mentioned? We put together a list of them below to help you save:

Store Discount

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.

Last verified

Earn up to 20,000 Qantas Points with Qantas Landlord Insurance

Earn up to 20,000 Qantas Points with every Qantas Landlord Insurance policy you take out by 22 April. T&Cs and exclusions apply.

Last verified

Deal ends

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.

Last verified

Read our landlord insurance reviews

Here are some of the insurers that offer landlord insurance in Australia:

If the brand you're looking for isn't here, check out our full landlord insurance directory.

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Matt Corke

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

Frequently asked questions

James Martin
This article was reviewed on 18 May 2023 by . James is the insurance editor at Finder and he's written on a range of insurance and finance topics for over 7 years.

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