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: 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?

You may be eligible to add optional Flood cover to your Budget Direct landlord insurance for an extra premium.

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 Review

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Our Verdict

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.

Pros

Combined Home and Contents Insurance for landlords comes 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. That's about as good an online offer as you'll get. T&Cs apply.
It gives you $1,000 towards replacing locks — that's $500 more than some insurers including Youi.

Cons

Its policies are underwritten by Auto & General Insurance Company Limited who also underwrite Virgin and Qantas, meaning they're quite similar.

Current offer for Budget Direct landlord insurance

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Up to 30% (15% Online + Up to 15% Combined) discount on new Home and Contents Landlord Insurance Save up to 30% (15% Online + Up to 15% Combined) off your first year's premium for a new combined Home and Contents Insurance policy purchased online. T&Cs apply. Get deal Get deal		loading Fetching your data...

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Get landlord insurance quotes from Budget Direct

Finder Score	Tenant Default and Damage	Loss of Rent	Accidental Damage	Cooling-off Period
8.5 Great Budget Direct Landlord Home & Contents Insurance	8.5 Great	Optional	10% of the sum insured amount of your property	Optional	21 days	Discount: Save 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.	Get a quote View details Compare product selectionCompare	loading
8.4 Great Budget Direct Landlord Contents Insurance	8.4 Great	Optional	No		21 days	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 product selectionCompare	loading
8 Great Budget Direct Landlord Building Insurance	8 Great	Optional	10% of the sum insured amount of your property	Optional	21 days	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 product selectionCompare	loading

Finder Score for landlord insurance

Finder Score assesses more than 40 home and contents landlord insurance products for their price and features, assigning each product a score out of 10.

Read the full methodology

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:

thunderstorm icon

Storms

fire icon

Fires

broken window icon

Breakage of glass

lock icon

Theft

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Escape of liquid

It's underwritten by Auto & General Insurance Company Ltd 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.

Budget Direct landlord insurance features

Standard features
Optional add-ons
Exclusions

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Standard features

We've highlighted some of the features that Budget Direct will cover you for if you make a claim for an insured event like a fire, storm or theft.

Removal of debris and extra rebuilding costs
Replacement of locks and stolen keys
Lost rental income and damage to some contents

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Optional add-ons

Like many other insurers, Budget Direct lets you apply to update your landlord cover for an additional fee.:

Tenant default
Flood cover
Theft and malicious damage by tenants
Sum insured safeguard
Motor burnout
Commercial storage

Exclusions

Budget Direct's general exclusions are similar to other insurers. Here's some of the main events you won't be covered for:

Action of the sea
Items covered by an insurance policy taken out by a body corporate or similar body
Wear and tear
A property that has been unoccupied for longer than 180 consecutive days

Inherent defects
Asbestos
Tree roots
Breaking the law

Make sure you read Budget Direct's PDS for a full list of general exclusions.

FAQs about Budget Direct landlord insurance

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:
- 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

Sources

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Written by

Gary Ross Hunter

Journalist

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Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards. See full bio

Gary Ross's expertise

Gary Ross has written 554 Finder guides across topics including:

Health, home, life, car, pet and travel insurance
Managing the cost of living

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Budget Direct Landlord Insurance Review