Top pick: Most Popular
- One of the cheapest insurers in Australia
- 15% off your first year's premiums when you buy online
- Good customer service and few complaints
Best landlord insurance
To help you find the best landlord insurance, we've broken down our top picks based on popularity, unique features and perks.
Top pick: Total Replacement
- The only insurer to offer total building replacement cover
- Prevents huge out of pocket expenses if your property is destroyed
- One of the most comprehensive policies in Australia
Top pick: Short-term Rentals
- One of the only insurers to cover short term rentals
- Covers accidental damage by tenants or paying guests
- Covers damage by tenants' pets
Top pick: Perks
- Earn Qantas Points when you sign up
- Earn 1 Qantas points for every $1 of premiums
- Similar cover to Budget Direct but with points
We may be paid when you visit links to partner sites - this is how we make money.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Best landlord insurance in June 2022
- Top pick for most popular: Budget Direct landlord insurance
- Top pick for total replacement cover: ANZ landlord insurance
- Top pick for short term rentals: QBE landlord insurance
- Top pick for perks: Qantas landlord insurance
How we chose these policies
Our best landlord insurance top picks were chosen based on factors such as popularity, benefits and inclusions. We looked at 10 landlord insurance brands, analysed over 35 benefits and looked through each provider's product disclosure statements to see exactly what is and isn't covered. Remember, there's no single best landlord insurance policy that suits everyone, since each of our needs are slightly different depending on where we live and the property we own.
Most popular landlord insurance: Budget Direct
What we like about Budget Direct:
- It's the most popular landlord insurer on Finder – it had more clicks than any other landlord provider between December 2021 and May 2022.
- Its customer service. In the past 2 years, its underwriter Auto & General has received significantly fewer complaints to the AFCA than every other insurer on the market.
- You get 15% off your first year's premiums when you buy online – no landlord insurer on Finder offers a bigger discount.
- As the name implies, Budget Direct provides low-cost, no-frills policies. If you want a more comprehensive (and expensive) policy, it might not be for you. For example, you need to pay extra if you want cover for malicious damage and floods.
Budget Direct Landlord Insurance
Top pick for total replacement cover: ANZ
What we like about ANZ:
- If your property is destroyed, ANZ will cover the entire rebuilding costs. It is the only insurer to include full building replacement as a standard feature across all home and landlord building insurance products.
- Its policy takes the onus off you as a landlord. With the majority of insurers, you need to estimate how much your property would cost to rebuild (the sum insured). This commonly leads people underinsuring their property (80% of homes in Australia are underinsured). For example, say you insure your property for 1 million but it costs 1.2 million to rebuild, you would be 200k out of pocket. With ANZ's full building replacement, this won't happen to you.
- It's one of the most comprehensive landlord insurance policies in Australia. It automatically covers events many others don't such as floods, malicious damage and electrical motor burnout and power surges.
- Because it's much more comprehensive, you'll likely pay more for an ANZ policy compared to the budget insurers.
Top pick for short term rentals: QBE
What we like about QBE landlord insurance:
- It's one of the only insurers in Australia to offer cover for short term rentals of less than 3 months – ideal if you're renting out your entire property or holiday home on Airbnb. You don't need to have a lease agreement in place to be covered, just some kind of booking record, such as one made through a holiday rental platform.
- QBE is the only insurer we found that will cover damage by tenants' pets for up to $4,000. It's also the only insurer we found that covers accidental damage by your tenants or paying guests.
- It's also our Green Insurer of the Year winner. It will replace your home and the items in it with eco-friendly upgrades if damaged or destroyed.
- Youi landlord insurance can also cover short term rentals. However, we selected QBE as our top pick because its product disclosure statement (PDS) provides much clearer information about what it will cover and the type of properties it will cover. Youi also doesn't specify it covers damage by tenants' pets.
Top pick for perks: Qantas
What we like about Qantas:
- Qantas is good because if you never have to make a claim, you're still getting something for your money. You earn 1 Qantas Point for every $1 you spend on your premium. You also get up to 20,000 points when you first sign up.
- Its policies are underwritten by Auto & General, the same company that underwrites Budget Direct. This means you get the same level of cover as a Budget Direct policy – but you also earn Qantas Points. It's the only landlord insurance that comes with Qantas Points.
- Existing customers are happy with their service. Auto & General (its underwriter) has received significantly fewer complaints to the AFCA than all other insurers in Australia.
- Just like Budget Direct, a Qantas landlord insurance policy doesn't automatically cover floods and malicious damage. If you want cover for either of these events, you'll need to pay more.
Compare to find the best landlord insurance policy for you
These are our top landlord insurance picks but there are other policies out there. You can use our table below to compare all the landlord insurance policies available on Finder.
1 - 5 of 9
Tips to find the best landlord insurance policy for you
If you're still looking for a policy, these 3 questions could help narrow down your search:
Do you own a unit or apartment?
If so, then you probably don't need landlord building insurance – the strata insurance you pay will cover you.
Is your property furnished or partly furnished?
Then you might want to get contents insurance to cover the items you keep at your property (in addition to building insurance if you own a freestanding house). Even if you only have items such as carpets, blinds and white goods, it can be worth getting. If something happens, the costs could be significant.
Do you want cover for rent default?
Rent default pays you an income if your tenant stops paying the rent – for example, if they lose their job or fall ill. You'll need to pay extra if you want this included in your policy.
Once you've narrowed down your options to a handful of insurers, it's worth getting quotes from each insurer. This will help you see who comes out on top for price.
More guides on Finder
-
Can getting health insurance before July save you money on tax?
Health insurance can save you on tax.
-
Travel insurance that covers COVID
Here's how travel insurers are responding to the pandemic.
-
Travel insurance for seniors over 80
Travel insurance is an essential expense for anyone planning a trip overseas, though sometimes it can be difficult to find cover if you are over 80 years of age.
-
Travel insurance for over 85
Guide to finding travel insurance if you're over 85 years of age.
-
Do I need car insurance in Australia?
Yes, you need car insurance to protect you from expensive bills following an accident.
-
Trekking travel insurance
Trek confidently with one of these 10+ brands that offer trekking insurance.
-
Does travel insurance cover Airbnb?
We take a look to see if you are fully protected by insurance if your Airbnb trip goes wrong.
-
Rent default
Rent default and loss of rent are 2 different features of landlord insurance you might need.
-
Rabbit Pet Insurance in Australia
Learn more about rabbit pet insurance in Australia - what's covered, how much you can claim and the exclusions.
Ask an Expert
