Carpets
Landlord contents insurance
Landlord contents insurance protects the items you own, not your tenants. But even if your property is unfurnished, you might still need it.
Key takeaways
- Landlord contents insurance covers the items you own and keep at your rental property.
- It can pay to repair or replace items that have been damaged or destroyed by an insured event.
- It is ideal for landlords with furnished properties but may still be necessary if your property is unfurnished.
Compare landlord contents insurance policies here.
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How we picked theseWhat is landlord contents insurance?
Landlord contents insurance protects the items you own and keep at your rental property. If they're damaged or destroyed by an insured event, such as a fire, storm or malicious damage by your tenant, it can pay to repair or replace them.
It's designed to help you avoid a hefty replacement bill if you're the landlord of a furnished property and the contents get damaged.
Most insurers offer new for old replacement. This means they will pay you for the cost of a new item, not your item's current value.
Why do I need landlord contents insurance?
Damage from unexpected events
For example, fires (including bushfires) storms, rainwater, floods, escaped water and lightning.
Unfurnished property
Even if you have an unfurnished rental, you might still need contents cover. Items like carpets, blinds, some air conditioning units and white goods such as washing machines are generally included in contents insurance. If your property is ruined by a natural disaster, insurance can replace all of these furnishings and fittings.
Our expert says
"Many property managers recommend that furnished rentals come equipped with basics like plates, bowls and glasses. Individually, these may not cost much – but if something serious like a fire, cyclone or storm hits and the whole property is damaged, you could be looking at hundreds of dollars in replacement costs. You've also got to consider how much it would cost to replace more expensive things such as kitchen units, white goods and carpets. It's particularly important if you rely on your rental as a major source of your income."
3 common landlord contents
Appliances such as white goods
Blinds and curtains
What is covered in landlord contents insurance?
Landlord contents insurance covers the items you own and keep at the property. If an insured event occurs, it can cover:
- Lost or damaged contents
- Accidental and malicious damage by tenants
- Motor burnout
- New for old replacement
- Storage of undamaged contents
What's excluded from cover?
Landlord contents insurance doesn't cover:
- Regular maintenance
- The building, for example the bricks and mortar
- Your tenant's contents
- Wear and tear to your items
- Mouldy items (unless the mould was covered by an insured event)
- Building defects
- Damage to contents caused by vermin, insects or rodents
- Damage to contents caused by movement of the sea
Make sure you take out landlord contents insurance before bad weather like a flood, storm or bushfire has become a known event. As soon as it's recorded by the BOM or on the news, you won't be able to make a claim for damage related to that event.
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If my tenant falls over and hurts themself by falling over a mat. Is this covered if they sue me?
Hi Liz, Many landlord insurance policies do include public liability cover to handle injuries to tenants or visitors, but not all do – so check the policy documents carefully before signing up. Landlord contents insurance, which is designed to cover furniture and other items, is less likely to include this than more comprehensive policies which can also cover rent defaults and building issues. Hope this helps.