Compare Landlord Insurance

Home and contents insurance for rental properties

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Top 3 things to know about landlord insurance


Choose from different types of cover

Whether you’re leasing out an empty space or a furnished home, there’s a policy to suit. Choose from a building, contents or combined policy to protect your investment.

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Cover for different situations

With landlord insurance, your property may be covered for things that can go wrong during day-to-day life in Australia (like fires and floods), as well as landlord-specific scenarios like tenant default.

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Know what you’re covered for

It’s important to know what your policy covers you for, especially for a property that you’re renting out, as you may be covered for some things that fall under your responsibility as a landlord (e.g. your liability for maintenance issues that cause problems for your tenants).

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A guide to landlord insurance

Updated February 19, 2024
Written by Kirk Wallace
Reviewed by Adrian Taylor

Expert tips for finding the right landlord insurance for your investment

Our home insurance expert, Adrian Taylor, has some helpful tips for finding the right landlord insurance for you.

Adrian Taylor
Executive General Manager – General Insurance

Keep all your entry and inspection reports

Keeping a record of the state of your property each time you inspect it can help you should you need to claim for an issue.

Regularly inspect your property

By keeping a close eye on your property, you can stay on top of any issues that arise before they grow into major problems.

Save on premiums with a higher excess

Some providers might offer you the choice of a higher excess to lower your premiums or vice versa. This can be a good way to save on your premiums, provided that you can pay the higher excess in the event of a claim.

Always have a written rental agreement

That way, there can be no dispute about the terms of the lease should either party have an issue.

What is landlord insurance?

Landlord insurance is a type of home insurance that typically covers rental properties for loss or damage to any buildings and permanent fixtures caused by an insured event. Some insurance policies for landlords may also offer add-on options for loss of rent, tenant default and malicious damage.

You also have the option to purchase contents insurance to protect any belongings you’ve provided to your tenants (in the case of furnished accommodation), or combined home building and contents cover. As with all policies, you should always check the relevant Product Disclosure Statement (PDS). That way, you can make sure the policy you’re purchasing covers the events you want protection for.

What is a landlord responsible for?

Being a landlord means you’re responsible for protecting your tenanted property against insurable events (such as fires and storms) that might cause damage to your investment. This is on top of maintenance and repairs, security installations and ensuring the premises are fit to live in and in good condition.

Some other types of loss or damage that may be covered under your landlord insurance policy include:

  • Loss or damage to fixtures and fittings includes items inside your property such as your carpets, curtains, air conditioner/heater, stove and dishwasher.
  • Theft or malicious damage caused by tenants or their visitors.
  • Legal liability when an accident at your property causes loss, damage, injury or even death to another person or their property.

If you’re renting out a fully or partially furnished property, your contents insurance policy may cover loss or damage to:

  • Your furniture
  • Curtains
  • Household goods (e.g. utensils, electrical appliances, whitegoods)
  • Blinds
  • Floor coverings (e.g. carpets, rugs)
  • Detachable light fittings.

Luckily, building cover and contents insurance for landlords can help with the costs associated with these losses, depending on your level of cover. Be sure to read the PDS and Target Market Determination (TMD) for the full details of a policy before you purchase it.

Your coverage with landlord insurance

What insurance do landlords need?

What does landlord insurance cover?

Does landlord insurance cover tenants’ contents?

Can I get landlord insurance for a holiday rental?

How landlord insurance works

How much does landlord insurance cost?

Is landlord insurance tax deductible?

Is landlord insurance compulsory?

How do I ensure I'm covered for the right amount?

Why should I take out landlord insurance for my property?

Even an airtight rental agreement and regular maintenance won’t stop things from going wrong, like carpet stains or major incidents such as a fire or flood. A landlord insurance policy could help with things like:

  • Repair and replacement costs for your investment property if it’s damaged or destroyed by an insured event
  • Cover for landlord-specific scenarios such as tenant default or malicious damage by tenants
  • Legal liability cover

Meet our home insurance expert, Adrian Taylor

As the Executive General Manager of General Insurance at Compare the Market, Adrian Taylor believes protecting your investment property should be an easy and efficient process. It’s important for landlords to adequately cover their property and belongings against risks that could result in financial loss, so Adrian strives to empower landlords with knowledge and choice when it comes to insurance.

Adrian has over 13 years’ experience in the financial services industry. He helps review general insurance content on Compare the Market to ensure it accurately breaks down complex insurance topics.

Sources: 1 Australian Government: Australian Taxation Office – Rental expenses you can claim now. Last updated June 2023. Accessed February 2024.