QBE Landlord Insurance

QBE Landlord Insurance Review

QBE landlord insurance is good if you want comprehensive cover but you can get bigger online discounts elsewhere.

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Our Verdict

  1. QBE landlord insurance covers you for up to $30,000,000 in legal liability — that's $10 million more than most insurers we looked at.
  2. It comes with environmental upgrades cover — lots of other insurers don't offer this.
  3. Its 10% online discount isn't the best offer out there — competitors including Budget Direct, Domain and Australian Seniors all offer more.

Review by our insurance writer Gary Hunter

warningSome landlord insurance policies have temporarily removed benefits such as rent default and a few others because of the pandemic. Make sure to check this with the insurer before deciding on a policy.
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Landlord insurance you can get through QBE

QBE offers three cover types under landlord insurance:

Buildings and contents

This can cover you for the cost of repairs to your property as well as replacement costs if an insured event, such as storm, fire, theft, or flood, damages or destroys it. This includes protection against theft or damages caused by tenants. It will also cover the contents of your property. It can also cover you for loss of rent if your property becomes uninhabitable.

Buildings cover only

If your rental property is unfurnished, a buildings cover policy makes sense since it will cover you for the residential building which includes any fixed items like sheds and built-in swimming pools.

Contents cover only

If your rental property is in a strata building, then a contents-only policy can look after the belongings inside the home. This is particularly helpful if the property is furnished and can cover you for insured events like fires, theft and more.

How does the coverage compare under Landlord Insurance?

To help you understand what you're covered for, we've checked out the QBE Landlord Insurance Product Disclosure Statement (PDS) and made a list of the insured events.

Insured eventBuildings and contentsBuildings cover onlyContents cover only
Fire
Theft
Storm
Flood
Lightning
Earthquake or tsunami
Escape of liquid
Accidental glass breakage
Malicious act
Collision
Falling tree or branch
Electrical motor burnout
Damage by animals
Explosion
Riot
Accidental damage

The list below outlines some of the added benefits of a QBE Landlord Insurance policy.

More benefitsBuildings and contentsBuildings cover onlyContents cover only
Emergency temporary repairsReasonable costReasonable costReasonable cost
Mortgage dischargeReasonable costReasonable cost
Environmental upgrades
$2,500$500 per item or $2,500
Loss of rent
Up to 12 months of rent or 10% of your buildings sum insuredUp to 12 months of rent or 10% of your contents sum insured
Building materials awaiting installation$2,000$2,000
Loss of rent due to forced evacuation by government authorityCost of rent – up to 60 daysCost of rent – up to 60 daysCost of rent – up to 60 days
Legal liability$30,000,000$30,000,000$30,000,000

If you choose to add extra cover to your policy, here are your options;

OptionalBuildings and contentsBuildings cover onlyContents cover only
Theft and vandalism by tenants to your property
$10,000$10,000
Rent DefaultUp to the weekly rental limit for the maximum number of weeks' limit shown on your Policy ScheduleUp to the weekly rental limit for the maximum number of weeks' limit shown on your Policy ScheduleUp to the weekly rental limit for the maximum number of weeks' limit shown on your Policy Schedule

Making a claim with QBE

To make a QBE Landlord Insurance claim, take the following steps:

  • As soon as it is safe to do so and if possible, take steps to prevent further loss or damage to your property.
  • Report the incident to the police if something was lost or stolen and get a copy of the report to send to QBE.
  • As soon as you can, you can call QBE on 133 723 to make your claim. Alternatively, you can lodge it online at qbe.com/au.

Who is eligible for a QBE landlord insurance policy?

A QBE landlord insurance policy is suitable for landlords who own a home in Australia used for residential purposes that they rent out to tenants under a leaseagreement, including as a casual or short-term rental (for example via Airbnb) and for those who want financial protection for:

  • loss or damage to their residential rental property;
  • accidental damage to the home;
  • loss of rent due to damage by an insured event;
  • malicious damage by tenants; and
  • legal liability

Frequently asked questions

Can I get cover for loss of rental income?

Yes. QBE covers loss of rental income if your property becomes unliveable due to an insured event (e.g. your tenants are unable to safely live at the property).

Does QBE Landlord Insurance offer flood cover?

Yes. A QBE Landlord Insurance property will cover you for damage caused by storm, storm surge, rain, hail or flood.

Does QBE also offer home insurance?

Yes. You can find out more about its home insurance policy here.

What company underwrites QBE Landlord Insurance?

QBE Landlord Insurance is issued and underwritten by QBE Insurance (Australia) Ltd.

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