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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
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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.
Budget Direct home insurance

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.
Get a quote
  • 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

ANZ home insurance

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.
Get a quote
  • Because it's much more comprehensive, you'll likely pay more for an ANZ policy compared to the budget insurers.

ANZ Landlord Insurance

Top pick for short term rentals: QBE

QBE logo

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.
More info
  • 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.

QBE Landlord Insurance

Top pick for perks: Qantas

Qantas Life Insurance Logo

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.
Get a quote
  • 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
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
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.
Seniors Landlord Home & Contents 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 in the first year. 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 when you sign up. Plus, you could win a $2,000 bp gift card just by getting a quote. T&Cs apply.
Woolworths Landlord Building and Contents Insurance
The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent
14 days
Annually
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Compare up to 4 providers

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:

Number 1

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.

Number 2

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.

Number 3

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

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