What insurance do landlords need in Australia?

There are no legal requirements for landlord insurance in Australia but it’s certainly a good idea to consider it. A landlord building insurance policy can protect your investment from unexpected damages occurring from events like storms, fires and cyclones. Most landlord policies also have an option to include cover for loss of rent and malicious damage from tenants. A contents policy could protect items like the oven, dishwasher and more.

Is landlord insurance different to building insurance?

Yes. Landlord insurance can cover you for landlord specific things like loss of rental income, whereas a regular building insurance policy is designed for homeowners who are living in their home. Both types of insurance cover the actual building from unexpected damages like storms and fires but only landlord insurance will cover you for rental specific needs.

Which insurance is best for an investment property?

A landlord insurance policy could be suitable for your investment property, provided it is tenanted. Depending on the level of cover you buy, landlord insurance can include cover for; the building, the contents, rental specific needs like loss of rental income and malicious damage.

Landlord insurance comparison: Save up to 15%

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Product	Tenant Default and Damage	Loss of Rent	Sum Insured Safeguard	Cooling-off Period	Cheapest way to pay
Youi Landlord Building and Contents Insurance	Optional	The reasonable rental amount for up to 12 months		20 days	Annually	Cover for investment property from fire, theft and numerous weather events.	Get a quote View details Compare	loading Fetching your data...
Budget Direct Landlord Home & Contents Insurance	Optional	10% of the sum insured amount of your property	Optional	21 days	Annually	Save 30% on your first year's premium when you buy a combined home and contents policy online. T&Cs apply.	Get a quote View details Compare	loading Fetching your data...
QBE Landlord Home & Contents Insurance		The lesser of: Up to 24 months of lost rent, or 20% of your sum insured amount		21 days	Annually	Get 10% off for buying a combined policy, plus an additional 10% in the first year for signing up online. T&Cs apply.	Get a quote View details Compare	loading Fetching your data...
Seniors Landlords Building & Contents Insurance		The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent		14 days	Annually	Save 5% when you buy a combined building and contents policy. The discount will apply to the first 12 months of your Seniors Landlords Insurance policy. The discount will be reapplied for 12 months each time your Seniors Landlords Insurance policy is renewed. T&Cs apply.	Get a quote View details Compare	loading Fetching your data...
Qantas Landlord Home and Contents Insurance	Optional	Up to 10% of your home sum insured	Optional	21 days	Annually	Earn up to 40,000 Qantas Points with every Qantas Landlord Insurance policy you take out by 28 May. T&Cs and exclusions apply.	Get a quote View details Compare	loading Fetching your data...
QBE Landlord Contents Insurance		The lesser of: Up to 24 months of lost rent, or 20% of your contents sum insured		21 days	Annually	Save 10% on your Landlord Contents Insurance policy in the first year for signing up online. T&Cs apply.	Get a quote View details Compare	loading Fetching your data...
Qantas Landlord Building Insurance	Optional	Up to 10% of your home sum insured		21 days	Annually	Earn up to 40,000 Qantas Points with every Qantas Landlord Insurance policy you take out by 28 May. T&Cs and exclusions apply.	Get a quote View details Compare	loading Fetching your data...
QBE Landlord Home Insurance		The lesser of: Up to 24 months of lost rent, or 20% of your sum insured amount		21 days	Annually	Save 10% on your Landlord Building Insurance policy in the first year for signing up online. T&Cs apply.	Get a quote View details Compare	loading Fetching your data...
Qantas Landlord Contents Insurance	Optional	No		21 days	Annually	Earn up to 40,000 Qantas Points with every Qantas Landlord Insurance policy you take out by 28 May. T&Cs and exclusions apply.	Get a quote View details Compare	loading Fetching your data...
Seniors Landlords Building Insurance		The lesser of: 12 months rent, or 10% of your building sum insured, or the lost rent		14 days	Annually	Save 5% when you buy a combined building and contents policy. The discount will apply to the first 12 months of your Seniors Landlords Insurance policy. The discount will be reapplied for 12 months each time your Seniors Landlords Insurance policy is renewed. T&Cs apply.	Get a quote View details Compare	loading Fetching your data...

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Landlord insurance is different to regular building insurance because it can include landlord specific coverage, like loss of rent and malicious damage.
Landlord insurance can protect the building only, or you can opt for a contents policy too which would protect things like your oven, dishwasher and more.
There are ways to save on your policy. Either via discounts or other tips and tricks.

What does landlord insurance cover?

Every policy varies but typically, you can expect to find the following inclusions, exclusions and optional extras:

Event	Landlord building insurance	Landlord contents insurance	Landlord combined building and contents insurance
Storm damage
Fire damage
Earthquake
Theft (by someone other than your tenant)
Vandalism and malicious acts (by someone other than your tenant)
Legal liability cover
Impact damage
Escape of liquid
Lease break and loss of rent
Legal action against bad tenants
Movement of the sea
Falling trees (due to impact or storm damage)
Damage from vermin
War and uprising
Damage from renovations
Flood damage	Optional extra	Optional extra	Optional extra
Rent default	Optional extra	Optional extra	Optional extra
Motor burnout	Optional extra	Optional extra	Optional extra
Accidental damage and breakage to glass and ceramics	Optional extra	Optional extra	Optional extra

To see exactly what you’re covered for, read the product disclosure statement (PDS) on the provider’s website.

How to save on your landlord insurance policy

Whether you’re after a building only policy, contents only or combined policy, there are three main ways to save money.

Get quotes from at least 5 different insurers.

This will help you know what’s available to you and give you the knowledge you need to negotiate a better deal.

Get on the phone.

Insurers are usually happy to negotiate on price if you call them up to talk through your options. Saying something as simple as; “This quote is a bit out of my budget, is there any flexibility on that price?” can get them to reduce it on the spot.

Look for sign up deals and discounts.

Plenty of insurers offer sign up discounts to new customers. These can be pretty generous too! A 20% discount can save you hundreds.

"The insurance premiums on my investment property have been going up signifigantly year on year. This year it was crazy and prompted me to start getting quotes from other providers. By shopping around I managed to save a couple of hundred bucks each month! "

Matt Corke

Head of Publishing Ventures

Deals and discounts for landlord insurance policies

Store	Discount
Budget Direct Home Insurance Deals	30% online discount on new home and contents landlord insurance Save 30% on your first year's premium when you purchase a new combined home and contents landlord insurance policy cover online. T&Cs apply. Last verified 3 Feb 2025	Get deal
QBE Home Insurance Deals	Get up to 20% off your first years’ premium with QBE Landlord Insurance Discount is made up of a 10% online discount, and a further 10% for buying a combined policy. T/Cs apply. Last verified 3 Feb 2025	Get deal

Frequently asked questions

There are no legal requirements for landlord insurance in Australia but it’s certainly a good idea to consider it. A landlord building insurance policy can protect your investment from unexpected damages occurring from events like storms, fires and cyclones. Most landlord policies also have an option to include cover for loss of rent and malicious damage from tenants. A contents policy could protect items like the oven, dishwasher and more.
Yes. Landlord insurance can cover you for landlord specific things like loss of rental income, whereas a regular building insurance policy is designed for homeowners who are living in their home. Both types of insurance cover the actual building from unexpected damages like storms and fires but only landlord insurance will cover you for rental specific needs.

Thank you for your feedback!

Written by

Peta Taylor

Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio

More resources on Finder

Compare landlord insurance

Landlord insurance can protect your investment properties, and contents, like kitchen appliances too.