Landlord insurance in Victoria

Compare landlord insurance brands in Victoria

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Finder Score	Tenant Default and Damage	Loss of Rent	Accidental Damage	Sum Insured Safeguard	Cooling-off Period
Promoted 8.7 Great Youi Landlord Building and Contents Insurance	8.7 Great	Optional	The reasonable rental amount for up to 12 months			20 days	Cover for investment property from fire, theft and numerous weather events.	Get a quote View details Compare product selection Compare	loading
Promoted 9.9 Excellent QBE Landlord Home & Contents Insurance	9.9 Excellent	Optional	The lesser of: Up to 24 months of lost rent, or 20% of your sum insured amount			21 days	Discount: Get 10% off when you buy a new policy online. T&Cs apply.	Get a quote View details Compare product selection Compare	loading
Promoted 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 selection Compare	loading
8.3 Great Qantas Landlord Home and Contents Insurance	8.3 Great	Optional	Up to 10% of your sum insured	Optional	Optional	21 days	Discount: Earn up to 35,000 Qantas Points for joining by 25 November 2026. Plus save up to 30% on your 1st year’s premium - 15% when you take out a new policy online, and up to 15% when you combine home and contents. T&Cs apply.	Get a quote View details Compare product selection Compare	loading
6.7 Standard Seniors Landlords Building & Contents Insurance	6.7 Standard		The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent			14 days	Save 5% when you buy a combined building and contents policy. The discount will apply to the first 12 months of your Seniors Landlords Insurance policy. The discount will be reapplied for 12 months each time your Seniors Landlords Insurance policy is renewed. T&Cs apply.	Get a quote View details Compare product selection Compare	loading
8.7 Great Youi Landlord Building Insurance	8.7 Great	Optional	10% of the buildings sum insured			20 days	Get a quote View details Compare product selection Compare	loading
9.9 Excellent QBE Landlord Home Insurance	9.9 Excellent	Optional	The lesser of: Up to 24 months of lost rent, or 20% of your sum insured amount			21 days	Discount: Get 10% off when you buy a new policy online. T&Cs apply.	Get a quote View details Compare product selection Compare	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 selection Compare	loading
7.9 Great Qantas Landlord Building Insurance	7.9 Great	Optional	Up to 10% of your home sum insured	Optional	Optional	21 days	Discount: Earn up to 35,000 Qantas Points for joining by 25 November 2026. Plus save 15% on your 1st year’s premium when you purchase online. T&Cs apply.	Get a quote View details Compare product selection Compare	loading
6.8 Standard Seniors Landlords Building Insurance	6.8 Standard		The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent			14 days	Get a quote View details Compare product selection Compare	loading

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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.

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What does landlord insurance cover me for?

Landlord insurance is available in three cover options:

• Home insurance. Also known as building-only cover, home insurance protects your home and other fixtures on your property against damage from fires, storms, theft and vandalism. Policies usually provides additional protection against loss of rent or damage to shared areas such as pools and gardens.
• Contents insurance. Contents Insurance offers cover for any of your household possessions, as well as other property you have on site, against the same risks as home insurance. Additional extras are usually available for communal items like pool equipment or outdoor furniture.
• 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 VIC?

It isn't mandatory to have landlord insurance in Victoria, though as a landlord you carry the financial burden of any loss or damage to your home and contents, and are liable for injury or death on your property. As well as this, you're also responsible for setting and adhering to lease terms and collecting bond (typically four weeks' rent) and rent for the property. Landlord insurance can protect you against these financial burdens and offers legal liability for such incidents.

How do I choose a landlord insurance policy?

Before you purchase a policy, ask yourself: which is more important, cover or value? The more comprehensive your cover, the higher your premiums will be. If you're in a city, be it Melbourne or Bendigo, you may be more worried about theft of your contents than you are about damage to the building. Or maybe you're living in serenity in Bonnie Doon and are more concerned with what the weather holds, in which case you'll want to check and see if your policy covers events such as fire and floods. Be sure to discuss specific terms and conditions with your insurance provider to ensure it's right for you.

Who offers landlord insurance in Victoria?

Australian home insurance providers usually aren't state-specific, which means homeowners in Victoria can access an extensive range of insurance offers from trusted brands, such as:

What does a Victorian landlord need to know?

While landlord insurance is almost the same no matter what state you're in, the rules are slightly different from state to state. As a landlord in VIC, you need to know the following:

• Bond and advance rent. You can request a bond of up to one month's rent if the rent is $900 a week or less. You can ask for up to one month's rent in advance, or 14 days' rent if rent is paid weekly. If the rent is more than $900 a week, these caps don't apply: you can ask for a higher bond, and for rent in advance up to the full value of the rental agreement.
• Rent increases. You cannot increase the rent in the middle of a fixed-term lease unless the contract states that you can. Otherwise, for agreements that started on or after 19 June 2019, you can increase rent no more than once every 12 months, and you must give at least 90 days' written notice using the official Notice of proposed rent increase form.
• Ending a tenancy. You need a valid reason to give a notice to vacate, including at the end of a fixed-term lease, and for some reasons you must include evidence with the notice (such as a building permit for renovations). Valid reasons include moving into the property yourself and the property being demolished or renovated. The standard notice period for most reasons is 90 days, though some reasons allow less.
• Pets. Tenants have the upper hand in Victoria. Although they need your written permission to keep a pet in your property, you can't refuse it without approval from the Victorian Civil and Administrative Tribunal.
• Access for inspections. In Victoria, you can carry out a general inspection no more than once every six months, and you must give the tenant at least 7 days' written notice that states the reason for entry. You can't do a general inspection within the first three months of the tenancy.

Landlord responsibilities in VIC

Providing an apartment, house or property for your tenant that is free of hazards and defects, is fit to live in and complies with all state and local building and health codes, is the main responsibility of a landlord. But it doesn't end there. You are required to take all necessary measures to meet these standards before you can lease it. Securing a bond from your tenant and submitting it to the Residential Tenancies Bond Authority is also on your shoulders. Other responsibilities include:

• Maintaining structural components and a reasonably weather-protected unit
• Providing the necessary heat, electric and hot and cold water facilities
• Making any requested repairs promptly
• Inspecting the property each time it's leased to determine whether or not it meets safety and adequate living standards
• Giving notice before entering a rental unit, except in cases of emergency
• Abiding by all agreements made in the signed lease
• Giving at least 90 days' written notice of a rent increase, using the official form
• Adhering to the legal eviction process if evicting a tenant
• Advising your tenant of their legal rights and responsibilities when taking out a lease

Landlord rights in Victoria

If a tenant has broken the conditions of the lease, or you have given adequate notice, you are legally allowed to evict a tenant. You also have the right as a landlord to increase the rent, provided you follow the rules on timing and notice. If the tenant disagrees with a rent increase, they can accept it, give notice that they intend to leave, or ask Consumer Affairs Victoria for a free rent assessment and, if needed, take the dispute to Rental Dispute Resolution Victoria and then VCAT. When your tenant moves out, remember the bond is held by the Residential Tenancies Bond Authority (RTBA), not by you. If you need to claim some or all of it for repairs or cleaning, you must start a claim with the RTBA within 14 days of the rental agreement ending. The RTBA only repays the bond when everyone on it agrees or VCAT orders it.

Frequently Asked Questions

• How much does landlord insurance cost in Victoria?

  The cost of landlord insurance in Victoria varies greatly depending on several factors. These include your property's location, type of building sum insured, chosen excess amount and the level of cover you select. Providers assess risk based on these details so getting multiple quotes is the best way to determine your specific premium.

• Is landlord insurance tax deductible in Victoria?

  Yes, in most cases landlord insurance premiums are considered a tax-deductible expense in Australia including Victoria. As an investment property owner you can generally claim the cost of your landlord insurance policy against your rental income. It is always best to consult with a tax professional to confirm your eligibility and specific circumstances.

• What is the process for making a landlord insurance claim in Victoria?

  The general process for making a landlord insurance claim involves notifying your insurer as soon as possible after an incident occurs. You will typically need to provide details of the event date of loss and any supporting evidence such as photos, videos, police reports or tenancy agreements. Your insurer will then assess your claim and guide you through the next steps which may include arranging repairs or compensating you for losses.

• Does landlord insurance cover accidental damage by tenants in Victoria?

  Many landlord insurance policies in Victoria offer cover for accidental damage caused by tenants. However, the extent of this cover can vary significantly between insurers and policies. Some policies may include it as standard while others offer it as an optional extra. It is crucial to review the Product Disclosure Statement PDS of your chosen policy to understand exactly what type of accidental damage is covered and any exclusions that apply.

• Do I need landlord insurance for an apartment or strata property in Victoria?

  Yes, even for an apartment or strata property in Victoria landlord insurance is highly recommended. While your body corporate insurance might cover the building's common areas and structural elements it typically does not cover your individual unit's contents, your liability as a landlord or specific tenant related risks like rent default or malicious damage. Landlord insurance provides this additional protection for your investment within the strata scheme.

• Does landlord insurance cover legal costs for tenant disputes?

  Many comprehensive landlord insurance policies offer cover for legal expenses related to tenant disputes such as eviction costs or legal fees incurred in pursuing unpaid rent or damages. This can be a valuable feature as legal proceedings can be costly. The extent of this cover including limits and conditions will be outlined in your policy's Product Disclosure Statement. It is important to compare policies to see what legal protections are included.

Written by

Alexandra Koster

Publisher

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Alexandra Koster was Finder's publisher for car, home and pet insurance. She has a Tier 1 certification in General Insurance, as well as a Bachelor of Arts in Film and Cultural Studies from the University of Sydney. Her hobbies include reading Product Disclosure Statements and deciphering complicated insurance lingo to help people save on their insurance so that they can spend their money on better things – like dogs. See full bio