Youi Landlord Insurance Review

Our Verdict

• Youi is good for its flexibility. You can choose your own excess, get covered for loss of rent default for up to 12 months and policies are tailored to meet your needs.
• Youi landlord insurance comes with cover for counselling costs if you need support after a claim — not many other insurers do this.

• It's cheaper to pay annually. A handful of insurers we looked at allow you to pay monthly at no extra cost.

_{Review by our insurance and innovations editor Gary Ross Hunter}

Get landlord insurance quotes from Youi

What does Youi landlord insurance cover?

• Building Only Insurance. Cover for your home or building, this includes pipes, cables, ducting, wires, switches, meters, fixed appliances, carports, patios, paved paths, driveways and other permanent fixtures (pools, spas, etc).
• Contents Only Insurance. Covers contents owned by you as the landlord or that you're responsible for, including carpets, curtains, blinds, furniture, furnishings, non-permanent light fittings, removable domestic appliances and utensils.
• Combined Home and Contents Insurance. You can combine both policies for complete protection of your home and its contents.

Here's some of the main insured events it can cover you for:

Youi policies come with a 20-day cooling off period which is the industry standard and like all insurers, you'll need to pay an excess when you make a claim. There are three excesses you might need to pay: a basic excess, an additional excess and an unoccupied excess (e.g. when your home has been unoccupied for more than 60 days.)

Youi landlord insurance features

Standard features

Here are some of the main features that Youi can cover when you make a claim for an insured event.

• Intentional Damage
• Legal Liability
• Emergency Repairs
• Clean Up and Professional Fees
• Burnout of Electric Motors
• Damage from vermin, insects, birds and wildlife

Broken Glass and Ceramics

Locks and Keys

Landlord's Loss of Rent

Landlord's Furnishings

Counselling Services

Optional add-ons

Youi doesn't offer many landlord add-ons compared to several other insurers. Some of its add-ons include:

• Lessee/tenant default and damage
• Contents in commercial storage
• Buildings accidental damage
• Contents accidental damage

Exclusions

Youi's general exclusions are similar to most other insurers. You won't be covered for:

• Illegal property or items
• Faulty design, materials or workmanship
• Wear and tear, rust or rising damp

• Illegal activity
• Intentional or deliberate acts or omissions
• Damage that existed prior to you taking out a policy

This isn't an extensive list of Youi's general exclusions. You can find the full list on its PDS.

Youi landlord insurance complaints

We looked at home insurance complaint data from the Australian Financial Complaints Authority (AFCA) between July to December 2020. The data explores different underwriters and compares their business size to the number of complaints processed.

When comparing insurers, keep in mind that those with a larger market share serve more customers so can potentially get more complaints. Here's an overview of how Youi stacked up against other insurers.

• Youi Pty Ltd only had 26 complaints, far less than other similar sized insurers, suggesting its good at providing a quality service.

• While it didn't get many complaints, Auto & General received slightly less complaints, so could provide a better customer service.

Bottom line about Youi landlord insurance

Youi landlord insurance is good if you want a policy that's tailored to your property and your needs. However, if you want to pay monthly, it will cost you more than paying for the full year.

If you're not yet ready to buy, you can compare other landlord insurance policies side-by-side here.

FAQs about Youi landlord insurance

• Who is eligible for a Youi landlord insurance policy?

  A Youi landlord insurance policy is designed for owner-occupiers or landlords with a financial interest in their property who may experience a financial burden should an event damage their home or legal liability arise. It's not generally suitable for:

  • properties that are not in an occupiable, liveable condition
  • affected by storm surge, landslip, subsidence, actions of the sea or tides, rising damp or ground water seepage
  • strata title properties
  • properties used as a hotel, motel or bed and breakfast accommodation
  • properties located in the Northern Territory, far north Queensland or northern Western Australia
  • not insured before purchasing insurance and you require cover for flood, storm or bushfire within the first 72 hours of cover starting

• How do I make a claim with Youi landlord insurance?

  Once you have dealt with the situation, and you and any other household members are safe, try to contact Youi as soon as possible so that they can assist you in the claims process.

  You can lodge a claim either by phone or online.

• What excess would I need to pay?

  It depends on what you are claiming for. In most cases, you'll only have to pay a basic excess. Youi also gives you the flexibility to choose your excess – many insurers charge you a fixed amount.

Youi landlord insurance reviews

If you've held or currently hold a Youi landlord insurance policy, we'd love to hear from you. Your reviews help other Australians decide if Youi is right for them. Some reviews are from a survey commissioned by Finder.