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Best landlord insurance Australia 2026
Tenant trouble shouldn't keep you up at night. The 3 best landlord insurance picks in Australia — handpicked by our expert team.
Short-Term Rentals
Key takeaways
- Budget Direct is the most popular choice, often offering cheaper prices with up to 30% (15% Online + Up to 15% Combined) off your first year's premium for a new combined Home and Contents policy purchased online. T&Cs apply.
- QBE Landlord Home & Contents Insurance covers short term rentals including tenant accidental damage and pet damage.
- Qantas Landlord Home and Contents Insurance can be price competitive and awards Qantas Points with a sign-up bonus.
As a landlord, you want to protect your most important asset. If anything ever went wrong at your investment property the dollar signs start adding up. Landlord insurance will protect you from damage to your property, defaults on your rent and many other things outlined in the policy.
Finding the best landlord insurance
It makes sense to get the best landlord insurance because you don't want to risk losing income on your investment property.
To help you find the best option for your needs, our insurance experts selected policies based on factors such as cost, popularity, benefits and inclusions. We looked at 16 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 the property we own, but we can help narrow down your options.
- Most popular: Budget Direct Landlord Home & Contents Insurance
- Best for short term rentals: QBE Landlord Home & Contents Insurance
- Best for perks: Qantas Landlord Home and Contents Insurance
What type of landlord insurance do you need?
There are 3 types of landlord insurance. The one you need depends on the property you own and whether or not it is furnished:
Landlord building insurance
This covers loss or damage to the building itself. It's probably best if you own a freestanding house that is unfurnished.
Landlord contents insurance
This covers damage to the items you keep at the property. It's best for people who own a furnished strata property such as an apartment, which strata insurance may cover.
Landlord building and contents
This protects the building and your items (not the tenants). It's suited to property owners with furnished houses (e.g. white goods, curtains, carpets).
Why landlord insurance matters
While a bond is often enough to cover minor damage, it's usually only equal to 4 weeks of rent. Landlord insurance can cover you for the entire rebuild costs and pay you for lost rent. This is helpful if you rely on your rental income to pay your own bills.
More 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.
Isn't my home insurance enough?
Home insurance is essentially what it says on the box. Insurance to cover your home in the event of something going wrong at home. Landlord insurance works in a similar way as home insurance but includes extra things to cover a rental property. Depending on what policy you choose you'll be able to claim for things like damage to your property, types of water damage, lost rent or even tenancy default. You can also add in optional covers for appliances you furnish the property with. Remember to check the policy PDS for a list of inclusions and exclusions before you sign up.
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Do any landlord insurance policies provide public liability cover for claims from tenants or contractors relating to alleged asbestos exposure
Hi Errol, Asbestos cover is a complex issue and if you wanted coverage for this, it might make sense to work with a specialist broker. Note that many basic landlord insurance policies don’t include public liability.
Can you please let me landlord insurers that will insure your property that don’t require a current tenancy agreement in Victoria?
Hi Marcus, Without a tenancy agreement of some sort, many insurers will be relucant to offer landlord insurance, since there won’t be clear evidence of how much income is at stake in the event that a claim needs to be made. If it’s for a property which is newly listed, evidence of promoting the property for rent online or via an agent would be relevant, but those details would need to be updated once an actual tenant was in place. Hope this helps.
Is there any Landlord Insurance which covers the scenario where a tenant sublets her residential rental when she goes on holidays, eg 2 months in France. She has not responded to request to answer if she is/is not doing so but the “visitor” has just confirmed she is paying the tenant to stay. This is in NSW.
Hi Cheryl,
This depends on which insurer you are with and what the specifics of your policy us. Many landlord insurers require a property manager to be professionally letting the property as part of the policy eligibility as this minimises their risk of something going wrong, so if this is a clause in your policy, it could cause some issues. I would recommend you contact your insurer to double check what applies in your situation.
Best of luck!