Landlord Insurance QLD
Renting out a property in Queensland? Compare 8+ landlord insurance QLD policies side-by-side.
As a landlord, you have enough on your plate without having to also worry about insurance. But whether you're in Cairns, Longreach or the Gold Coast, landlord insurance can help protect you against damage, loss, injury, rental default and legal liability. What's involved and how do I find the right cover for my property? Here's our full guide to landlord insurance in Queensland.
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How we picked theseWhat does landlord insurance in QLD cover me for?
Landlord insurance comes in three cover options.
- Home insurance. Home insurance, or building/building-only cover, offers cover for your home and other fixtures on your property against damage from fires, storms, theft and vandalism. Cover usually provides additional protection against loss of rent due to damage rendering the property uninhabitable or damage to shared areas such as pools and gardens.
- Contents insurance. Contents cover protects any of your household possessions and any other property you have on site against the same risks as home insurance. Additional options are usually available for communal items like pool equipment or outdoor furniture.
- Combined home and contents insurance. Offering total protection for your property and everything inside, this is the most comprehensive level of cover available to landlords and includes optional cover for both rental default and damage or loss caused by tenants or their guests.
Is landlord insurance compulsory in Queensland?
No, landlord insurance isn't compulsory in QLD but it doesn't mean you shouldn't get it. As the landlord, legal responsibility in an event of loss, damage or injury would fall on your shoulders. What's more, while tenants must agree to the terms you set in the lease, you're responsible for setting the terms and collecting bond and rent for the property. All policies come with legal liability in case there are any legal disputes.
What should a landlord insurance QLD policy include?
These are some of the main inclusions in a QLD landlord insurance policy:
Storms
Storms are common across QLD and can do serious damage to properties. Storm cover is included as standard in most landlord insurance policies.
Fire
Fire cover is standard in most landlord insurance policies and can cover also cover your property and its contents for bushfires.
Theft
Theft cover is generally a standard inclusion with most landlord insurance policies. It can pay for damages related to theft or vandalism.
Accidental damage
Accidental damage isn't always included as standard (sometimes you'll need to pay extra to add it on to your policy) but it can cover both property and contents damage – for instance, if the property is furnished and the tenant accidentally breaks the TV or spills wine on the couch.
Floods
Some policies automatically cover you for floods but many will only cover you if you're willing to pay a little extra for it. If you live in a flood-prone area of QLD, it could be worth it.
Loss of rent
Loss of rent isn't always automatically included as standard. However, it can cover you for the losses you incur as a result of a tenant failing to pay rent.
Who offers landlord insurance in QLD?
Australian home insurance providers usually aren't state-specific, which means Queensland homeowners can access cover from an extensive range of trusted insurance brands, including:
Finder survey: Are Australians from different states worried their home will be impacted by climate change?
| Response | WA | VIC | SA | QLD | NSW |
|---|---|---|---|---|---|
| No | 50% | 61.77% | 62.67% | 64.07% | 54.42% |
| Yes | 50% | 38.23% | 37.33% | 35.93% | 45.58% |
Source: Finder survey by Pure Profile of 1113 Australians, December 2023
Data for ACT, NT, TAS not shown due to insufficient sample size. Some other states may also be excluded for this reason.
Data for ACT, NT, TAS not shown due to insufficient sample size. Some other states may also be excluded for this reason.
What do I need to know as a landlord in QLD?
There are some differences between states around the rights and responsibilities of landlords and tenants and these could have an impact on insurance claims down the road. Here's what's different in Queensland:
- Bond and advance rent. You can legally collect four week's bond on places that rent for $700 per week or less. There are no bond limits for places you rent for more than that. The maximum advance rent you can charge for any rental is one month for fixed-term agreements and two weeks for periodic agreements.
- Rent increases. You can increase rent once every six months with a two-month notice. However, you can't increase the rent on a fixed-term agreement unless the contract states that it will be increased.
- Ending a tenancy. To end a fixed-term lease, you have to wait until the lease is up and give two month's notice. It's also a two-month notice to end a periodic lease. If the tenant breaches the contract, this notice period can be shorter depending on the severity of the breach.
- Pets. Landlords have the upper hand here, as tenants are required to get written approval in order to keep a pet in a rental property.
- Access for inspections. As a landlord, you're allowed one inspection every three months and you must give your tenant a notice period of at least seven days before each one.
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Accidental damage – does that cover if tenant breaks windows or doors or fences?
Hi Joanne,
Depending on the insurer and the policy, damage caused by the tenant is usually categorised as “accidental” or “malicious” damage.
Accidental damage is the result of an unforeseeable or unintentional event (ie it was not caused on purpose). This could be spilling red wine on carpet, or dropping something in the kitchen and cracking a tile.
Malicious damage is the result of an intentional act and there must have been ‘malicious intent’ behind it. For instance, the tenant may have deliberately punched or smashed a window with the intention of causing damage. Wilfully damaging or destroying another person’s property is criminal damage and most insurers require this to be reported to the police in order to make a claim.
Hope this helps!