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What is landlord insurance?

Landlord insurance is a policy that covers you against events such as loss of rent due to a tenant’s rent default, the theft or burglary of any belongings you have leased to your tenants, and natural disasters such as storms. Additionally, you can get insured for accidental or malicious damage to the structure of your property.

It pays to remember that each landlord policy is different. Some policies will cover you for all the events listed above, while others will only cover you for a selection of scenarios. Always review your Product Disclosure Statement (PDS). That way you can be sure the product you are thinking of purchasing covers the events you want protection against.

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Landlords commonly ask the following questions

Does landlord cover matter?

Landlord insurance can give you the best financial protection against risks to your investment property and any belongings you’ve leased to your tenants.

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What does my policy cover?

A standard landlord insurance policy covers you for property damage, theft, and loss of rent. However, you may want to include some extras to be fully covered.

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What is a landlord liable for?

As a landlord, you’re not only responsible for protecting your tenanted property, but also for the costs associated with risks such as loss of fittings and legal liability.

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What is landlord insurance?

Landlord insurance is a type of home insurance for your investment property that offers a financial safety net against unforeseen damages or destruction.

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Frequently asked questions

How does landlord insurance work?

Landlord insurance is designed to help you protect your investment property and any personal contents inside. This type of insurance typically covers the building and permanent fixtures from accidental damage (excluding boundary fences), furnishings and even rental default. You’re covered for the regular things such as fire, storm and impact damage, but you may also be able to insure against loss of rent.

Landlord insurance allows you to insure just the building, just the contents, or both the building and contents – depending on the insurer’s policy. If you’re a landlord in the market for cover, you can compare and purchase cover within minutes for free with our easy-to-use landlord insurance comparison service.

Why is landlord insurance important?

Landlord insurance is important because as a landlord, you’re responsible for protecting your property, regardless of its size or features. Without it, you could be facing expensive out-of-pocket costs to repair the home.

You may also be legally liable for incidents that occur at the property. Reviewing landlord insurance policies with our free landlord insurance comparison service can help you find cover for your investment.

How much does landlord insurance cost?

Various factors can affect the cost of your landlord insurance policy, including:

  • your suburb’s risk for natural disaster (i.e. flood plains) and its crime rate
  • untenanted periods
  • the value of your property.

We recommend going through our free landlord insurance comparison service for a more accurate quote for your suburb and property.

To gauge how much Aussies may pay for their cover, we’ve looked at the suburbs that received the most completed quotes in 2018 for landlord insurance through our website. These were as follows:

  • Blacktown (New South Wales)
  • Werribee (Victoria)
  • Redbank Plains (Queensland)
  • Adelaide (South Australia)
  • Baldivis (Western Australia)
  • Franklin (Australian Capital Territory)

Home and contents insurance by state and territory

State/TerritoryIndicative annual premium
NSW$1,537.92
VIC$1,076.76
QLD$1,235.10
SA$842.35
WA$1,156.96
ACT$1,180.87
National$ 1,171.66
Source: Comparethemarket.com.au quotes from 2/08/19. These indicative prices are based on quotes for freestanding houses built between 1990 and 1999, constructed with brick veneer walls and terracotta/clay roof tiles. Quotes were completed for suburbs that registered the most landlord insurance quotes completed with Compare the Market in 2018. The following postcodes have been included: 2148 (Blacktown, NSW), 3030 (Werribee, VIC), 4301 (Redbank Plains, QLD), 5000 (Adelaide, SA), 6171 (Baldivis, WA), and 2913 (Franklin, ACT). Building values and home replacement figures are based on mean dwelling price statistics from the Australian Bureau of Statistics (ABS). Rental income is based on ABS housing cost figures, and contents replacement is set at $40,000. For prices more indicative of your property, use our free home and contents insurance comparison service.
What does landlord insurance cover?

Landlord insurance covers a range of incidents and events, including some that are unique to rental properties. With any insurance policy, it’s vital to go through the Product Disclosure Statement (PDS), which outlines the specific cover amounts, listed events and exclusions.

When using our free landlord insurance comparison service, you’ll be able to see what’s covered under each policy when comparing them side by side.

N.B. Coverage for events such as flood damage and motor burnout may be an optional extra, which will cost more to include on your policy.

The table below outlines the common inclusions and exclusions of landlord building insurance, landlord contents insurance and landlord combined building and contents insurance – remember to always check the PDS as policies differ between insurers:

EventCovered by landlord building insurance?Covered by landlord contents insurance?Covered by landlord combined building and contents insurance?
Storm damageYesYesYes
Fire damageYes – excluding damage from cigarette smoking, scorching or meltingYes – excluding damage from cigarette smoking, scorching or meltingYes – excluding damage from cigarette smoking, scorching or melting
Flood damageYes – though this may be an optional extra that costs more to add to the policyYes – though this may be an optional extra that costs more to add to the policyYes – though this may be an optional extra that costs more to add to the policy
EarthquakesYesYesYes
Movement of the seaNoNoNo
SinkholesYesYes – if the contents are damaged due to a sinkholeYes
TheftYes – damaged caused by burglary is also coveredYes – damaged caused by burglary is also coveredYes – damaged caused by burglary is also covered
Vandalism and malicious damageYes – includes damage from tenants and their guestsYes – includes damage from tenants and their guestsYes – includes damage from tenants and their guests
Lease break and loss of rentYesNoYes
Legal liabilityYesYesYes
Legal action against bad tenantsYesNoYes
Rent defaultYesYesYes
Impact damageYesYesYes
Falling treesNoNoNo
Motor burnoutYesYesYes
Damage from verminNo – this also excludes damage from other animals besides rodents and insectsNo – this also excludes damage from other animals besides rodents and insectsNo – this also excludes damage from other animals besides rodents and insects
War and uprisingNo – civil unrest may be coveredNo – civil unrest may be coveredNo – civil unrest may be covered
Accidental damage to glass and ceramicsYes – this may be an optional extra that costs more to add to the policyYes – this may be an optional extra that costs more to add to the policyYes – this may be an optional extra that costs more to add to the policy
Loss of liquidYes – doesn’t cover repair or replacement to the item that leaked (such as an aquarium)Yes – doesn’t cover repair or replacement to the item that leaked (such as an aquarium)Yes – doesn’t cover repair or replacement to the item that leaked (such as an aquarium)
Removing debrisYesNo – unless contents are damaged by debris or removal processYes
Damage from renovationsNoNoNo
Who provides landlord insurance?

Several insurance companies that provide landlords insurance coverage in Australia, which you can see in the table below.

Though we don’t compare every available provider in Australia, we simplify your landlord insurance journey. Within minutes, you can compare policies from some of Australia’s top insurers side-by-side, and even purchase cover, all in the one place.

Landlord building insuranceLandlord contents insurance
  • 1300 Insurance
  • AAMI
  • AIG Australia Limited
  • Allianz
  • ANZ
  • APIA
  • Aussie
  • Australia Post
  • Australian Seniors Insurance Agency
  • Australian Unity
  • Bank of Melbourne
  • BankSA
  • Budget Direct
  • CGU
  • Coles Insurance
  • CommBank
  • COTA insurance
  • Custom Home Insurance
  • Elders Insurance
  • GIO
  • IAL
  • ING
  • NRMA
  • Over Fifty Insurance
  • QBE
  • RAC
  • RACQ
  • RACT
  • RACV
  • Real Insurance
  • Rentcover Landlord Insurance
  • Resilium
  • SGIC
  • SGIO
  • SGUA
  • ST George
  • Suncorp
  • Terri Scheer Landlord Insurance
  • Territory Insurance Office
  • Vero
  • Virgin Money
  • Westpac
  • WFI
  • Woolworths
  • Youi
  • 1300 Insurance
  • AAMI
  • AIG Australia Limited
  • Allianz
  • ANZ
  • APIA
  • Aussie
  • Australia Post
  • Australian Seniors Insurance Agency
  • Australian Unity
  • Bank of Melbourne
  • BankSA
  • Budget Direct
  • CGU
  • CHU
  • Coles Insurance
  • CommBank
  • COTA insurance
  • Custom Home Insurance
  • Elders Insurance
  • GIO
  • IAL
  • ING
  • NRMA
  • QBE
  • RAC
  • RACQ
  • RACT
  • RACV
  • Real Insurance
  • Rentcover Landlord Insurance
  • Resilium
  • SGIC
  • SGIO
  • SGUA
  • ST George
  • Suncorp
  • Terri Scheer Landlord Insurance
  • Territory Insurance Office
  • Vero
  • Virgin Money
  • Westpac
  • Woolworths
N.B. This is not an exhaustive list and is subject to change. The list of landlord insurance providers is accurate in August 2019 and sourced from the Insurance Council of Australia.

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