Budget Direct Landlord Insurance Review

Current offer for Budget Direct landlord insurance

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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.

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Get landlord insurance quotes from Budget Direct

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.	Get a quote View details	Compare	loading Fetching your data...
Budget Direct Landlord Building Insurance		Optional	10% of the sum insured amount of your property			21 days	Annually	Save 15% on your first year's premium when you buy a home only policy online. T&Cs apply.	Get a quote View details	Compare	loading Fetching your data...
Budget Direct Landlord Contents Insurance		Optional	No			21 days	Annually	Save 15% on your first year's premium when you buy a contents insurance policy online. T&Cs apply.	Get a quote View details	Compare	loading Fetching your data...

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What does Budget Direct landlord insurance cover?

There are three levels of landlord cover available with Budget Direct: building insurance, contents insurance, and combined building and contents insurance.

Here's some of the main events a policy can cover you for:

It's underwritten by Auto & General Insurance Company Limited and comes with a cooling-off period of 21 days. This means if you want to cancel within this timeframe from taking out a policy, you won't be charged, as long as you haven't made a claim. You'll also need to pay an excess when you make a claim.

Budget Direct landlord insurance features

Budget Direct landlord insurance complaints

We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July to December 2020. The data breaks down different underwriters and compares their business size to the number of complaints processed.

When comparing insurers, keep in mind that insurers with a larger market share serve more customers so can potentially get more complaints.

Here's an overview of how Budget Direct (which is underwritten by Hollard) did. It includes other brands underwritten by Hollard so keep in mind that the total number of complaints is not necessarily all for Budget Direct:

Here are some things we noticed about Budget Direct and their underwriter:

• Budget Direct could be a good option if you value good customer service. It had significantly less complaints lodged compared to Westpac, who are of a similar size.
• It didn't get many complaints at all in the period we looked at – a total of 2 – which suggests customers are happy with its service.

Bottom line about Budget Direct landlord insurance

Budget Direct is good if you want an affordable policy with one of Australia's most popular insurers. It has very few complaints and covers you for the basics, though if you want to get covered for extras like tenant default, you'll need to pay extra.

To compare Budget Direct's landlord insurance policies side-by-side with other providers, you can head here.

FAQs about Budget Direct landlord insurance

• Who is eligible for a Budget Direct landlord insurance policy?

  To be eligible, you need to be at least 16 years of age and have an Australian mailing address (or have one in the next 30 days) and reside or own property in Australia. Policies are generally not suitable for:

  • Homes in the Northern Territory or above the Tropic of Capricorn (excluding the Greater Rockhampton area)
  • Hotels and other multi-occupancy dwellings
  • Caravans, cars, trailers, mobile homes or shipping containers
  • Homes that have asbestos roofs
  • Homes that are under construction and not at lock-up stage
  • Anyone who has been convicted of arson or fraud or has had their previous insurance denied due to fraud

• Do I have legal liability with Budget Direct?

  Yes. All policies have a limit of $20,000,000 from any legal claims and costs, and extends to your building if you are required to pay compensation for death or injury on your property, and landlord contents that cause death or injury.

• Am I covered for floods with Budget Direct?

  Yes, Budget Direct landlord insurance is one of the few insurers to automatically cover floods. Many will only cover you if you pay extra for it.

• How do I make a claim with Budget Direct landlord insurance?

  Once you have contacted any required emergency services and taken every precaution to prevent further loss, damage or injury, contact Budget Direct 24/7 either online or over the phone to begin the claims process and access your policy benefits.

  Ph: 1800 069 336

  Website: budgetdirect.com.au

• What excess do I need to pay?

  For each claim you make you may be required to pay an excess (unless otherwise outlined in your policy). For example, if a fire has damaged your house, you would need to claim for the damage and pay an excess.

Budget Direct landlord insurance reviews

If you've held or currently hold a Budget Direct landlord insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Budget Direct is right for them. Some reviews are from a survey commissioned by Finder.