Landlord Insurance NSW

Compare 8+ landlord insurance NSW policies and get protected for damage caused by floods, storms, accidents and tenants.

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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.

Compare landlord insurance brands in NSW

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

Optional

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

Optional

Up to $52,000
Optional
21 days
Monthly or Annually
Save up to 10% with two eligible insurance policies and 12.5% for three eligible insurance policies. T&Cs apply.
Seniors Landlords  Insurance
The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent
14 days
Annually
Buy online and save up to 15% on landlord building and contents policies. T&Cs apply.
QBE Landlord Insurance
The lesser of: Up to 24 months of lost rent, or 20% of your buildings sum insured amount
21 days
Annually
Save 10% on your first years’ premium with QBE Landlord Insurance.
Qantas Landlord Insurance
10% of the sum insured amount of your property
Optional
Optional
21 days
Annually
Earn up to 20,000 Qantas Points when you apply. Points awarded will be based on your premium. T&Cs & exclusions apply.
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Compare up to 4 providers

Brands still offering landlord insurance in NSW

As of 21 January 2022, the following brands are still offering new landlord insurance policies. All existing policies should be respected, but it's best to check directly with your insurer.

ProviderAre they still offering landlord insurance?Are they offering tenant default options?Apply
Youi landlord insurance
  • Yes
  • Yes
Get quote
Qantas home insurance
  • Yes
  • No
Get quote
Virgin money landlord insurance
  • No
  • No
More info
Coles landlord insurance
  • Yes
  • Yes
More info
Westpac landlord insurance
  • Yes
  • Yes
More info
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  • Yes
  • Yes
More info
Picture not described
  • Yes
  • Yes
More info
Allianz landlord insurance
  • Yes
  • Yes
More info
Picture not described
  • Yes
  • Yes
Get quote
Apia landlord insurance
  • Yes
  • Yes
More info
Budget direct landlord insurance
  • No
  • No
Get quote
CHU landlord insurance
  • Yes
  • Yes
More info
Picture not described
  • Yes
  • No
More info
NRMA landlord insurance
  • Yes
  • Yes
More info
RACV landlord insurance
  • Yes
  • Yes
More info
real insurance
  • Yes
  • No
More info
SGUA landlord insurance
  • Yes
  • No
More info
Suncorp landlord insurance
  • Yes
  • Yes
More info
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  • Yes
  • In some cases
More info
Picture not described
  • Yes
  • No
More info

What does landlord insurance in NSW cover me for?

Landlord insurance typically comes in three cover options.

  • Home insurance. Home insurance, or building/building-only cover, offers cover for your home and other fixtures on your property against damage from fires, storms, theft and vandalism. Cover usually provides additional protection against loss of rent due to damage rendering the property uninhabitable or damage to shared areas such as pools and gardens.
  • Contents insurance. Contents cover protects any of your household possessions and any other property you have on site against the same risks as home insurance. Additional options are usually available for communal items like pool equipment or outdoor furniture.
  • Home and contents insurance. Offering total protection for your property and everything inside, this is the most comprehensive level of cover available to landlords, and includes optional cover for both rental default and damage or loss cause by tenants or their guests.

What should my landlord insurance NSW policy include?

Every property owner has different needs but if you live in NSW, here's a breakdown of what you should consider including in your landlord insurance policy.

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Storms

Storms are common across NSW. This can cover your property if it's damaged or destroyed by one.

fire icon

Fire

You can get cover for loss and damage caused by fire (including bushfires).

television

Furniture and furnishings

This can cover loss or damage to furniture, furnishings and carpet in your property.

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Theft

This can cover you for stolen items and damage from theft and vandalism.

flood

Floods

This can cover you for loss or damage caused by floods. It's often an add-on you'll need to pay extra for.

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Loss of rent

If your tenant stops paying rent or leaves without giving you notice, landlord insurance can cover the costs, up to a certain amount.

What additional benefits can NSW landlord insurance cover?

As well as the items listed above, you might want to get cover for the following:

  • Tax audit costs. Landlord insurance can cover the fees associated with a tax audit by the ATO.
  • Legal liability cover. If you're accused of negligence or of hurting a tenant, legal liability can cover you for legal fees.
  • Replacement of locks. If a tenant doesn't hand over the keys, this can pay to replace locks.
  • Removal of tenant's possessions. Some policies can pay to remove the tenant's possessions from the property if you've made a claim for loss of rent.

Is landlord insurance compulsory in NSW?

No, while it's not compulsory to have landlord insurance in NSW, as a landlord you are responsible for any damage and public liability for injury or loss on your property. Landlord insurance can protect you against the financial burden you face should there be any damage to your building, loss of contents, rent default, or death or injury on your property. And while it isn't required at a state level, some local councils require a level of legal liability, which is included with any level of landlord insurance.

Is there anything different about being a landlord in NSW?

Landlord insurance is pretty much identical across the country. However, there are some differences between states around the rights and responsibilities of landlords and tenants and these could have an impact on insurance claims down the road.

Here's what's different in NSW:

  • Bond and advance rent. As a landlord in NSW, you are allowed to collect four weeks bond and two weeks advance rent.
  • Rent increases. If the lease is a fixed-term agreement of less than two years, you cannot increase the rent unless you've added a special term to the contract explaining exactly why the rent will increase and how the increase will be calculated. If it is a fixed-term agreement of more than two years, you can increase the rent at any time but only once every 12 months. In all cases, including periodic leases, you must give 60 days notice.
  • Ending a tenancy. If you want to end a fixed-term lease, you have to wait until the lease is up and tell the tenant at least 14 days before that date. On a periodic lease (ie, month-to-month), you have to give your tenant a 90-day notice if you want them out. It's different if they breach the contract, in which case you only need to give them a 14-day advance warning regardless of what type of lease they are on.
  • Pets. There are no laws saying tenants can't have pets, but as a landlord, you do have the right to ban pets as long as that is written into your rental agreement.
  • Access for inspections. You're allowed to conduct four routine inspections every 12 months, but you'll need to give your tenant a written notice at least seven days in advance of the inspection.

What are a landlord's responsibilities?

Your responsibility as a landlord is essentially to provide a habitable apartment, house or property for a tenant. Habitable means the property is free of hazards and defects, is fit to live in and complies with all NSW state and local building and health codes. These responsibilities include the following:

  • Maintaining structural components and a reasonably weather-protected unit
  • Providing the necessary heat, electric and hot and cold water facilities
  • Making any requested repairs promptly
  • Inspecting the property each time it is leased to determine whether it meets safety and adequate living standards
  • Giving notice before entering a rental unit, except in cases of emergency
  • Abiding by all agreements made in the signed lease
  • Providing 15 days written notice of any changes to a month-to-month agreement
  • Adhering to the legal eviction process if evicting a tenant
  • Advising your tenant of their legal rights and responsibilities when taking out a lease.

Picture: Unsplash

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