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Budget Direct Landlord Insurance Review

Budget Direct landlord insurance is good if you want discounts and a trusted, popular insurer.

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Budget Direct Landlord Insurance

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

  • Budget Direct combined home and contents insurance for landlords comes with a 30% online discount. That's about as good an online offer as you'll get, similar to other providers such as Virgin.
  • 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

Deal

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.

Get landlord insurance quotes from Budget Direct

Name Product AUFHO-LAN 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.
Budget Direct Landlord Building Insurance

Optional

10% of the sum insured amount of your property
Optional
21 days
Annually
Save 15% on your first year's premium when you buy a home only policy online. T&Cs apply.
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.
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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

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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.
  • Open air contents cover
  • Replacement of locks and stolen keys
  • Lost rental income and damage to some contents
  • Modifications to your home to support paraplegia or quadriplegia
  • Food spoilage

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Optional add-ons

Like many other insurers, Budget Direct lets you update your landlord cover for an additional fee with the following protections:
  • Tenant default
  • Flood cover
  • Theft and malicious damage by tenants
  • Sum insured safeguard
  • Motor burnout
  • Commercial storage

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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

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Editor, Insurance

Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

Gary Ross's expertise
Gary Ross has written 651 Finder guides across topics including:
  • Health, home, life, car, pet and travel insurance
  • Managing the cost of living

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