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Updated 03/04/2024
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Moderate rewrite for tone and clarity; ‘Should I get Landlord Insurance?’ and ‘What does Landlord Insurance typically cover?’ added
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Written by

Francis Taylor

Updated 03/04/2024

What changed?

Moderate rewrite for tone and clarity; ‘Should I get Landlord Insurance?’ and ‘What does Landlord Insurance typically cover?’ added
Our aim is to help you make better informed decisions. That’s why iSelect’s content is produced in accordance with our fact-checking and editorial guidelines.

Find out more about how we make money.

View our Privacy Policy.

Our range of Home and Contents partners

What is Landlord Insurance?

Landlord Insurance is a type of Home and Contents Insurance designed specifically for people renting out their property. As well as covering you for damage to the property, it might include tenant defaults, their visitors damaging the property or the related legal expenses that might arise.

Should I get Landlord Insurance?

While not compulsory in Australia, Landlord Insurance is designed to protect you financially from some of the risks that come along with being a landlord. Have a think about how it would impact you financially if a tenant defaulted on rent, or if they had to move out for repairs to be conducted. Bit stressful? Landlord Insurance can help with that.

Which factors can affect the cost of my Landlord Insurance?

Level of insurance

Landlord Insurance can help cover physical damage to your property, and sometimes to its contents, too. If you’re furnishing the property, it’s worth choosing a policy that includes Contents Insurance. Keep in mind that items like carpets, curtains, and appliances can be considered furnishings.

Location

If your property is located in an area with a lot of crime, or one that’s prone to natural disasters, it could impact the cost of your policy. You can call your local council to find out if your property is located in a fire or cyclone zone.

Pets

You could have the most responsible tenants in the world, but their pets might be a whole other story! Some insurers will require you to take out optional cover – at an extra cost – to protect against the damage they could cause.

Optional cover

There are usually a whole lot of extras you can add to get your Landlord Insurance just how you want it. These could include getting the locks changed and getting cover for flooding, which often isn’t included in standard Home Insurance Policies.

Frequently Asked Questions

My tenants already pay a bond – how is this different?

What does Landlord Insurance typically cover?

What isn’t typically covered by Landlord Insurance?

Can I get Landlord Insurance for short-term rentals?

Does Landlord Insurance differ by state?

Helpful tip

Every good landlord knows the importance of regular property inspections – and this becomes doubly true when you take out Landlord Insurance.

Now, it won’t be news to anyone that these inspections can help you identify minor issues before they turn into major problems. But this doesn’t just help you keep your property in tip-top shape, it can also help you avoid costly repairs that you’d need to claim on your insurance.

Remember, claiming on your Landlord Insurance might also increase your premium. This is because it’s a sign that you might claim again in the future. Essentially, it makes your property more of a risk. But prevention is better than cure, so be on the lookout for those water leaks and cracks in the wall before they turn into a real headache!

How can I compare Landlord Insurance Policies?

If you’ve read this far, you probably understand that not all Landlord Insurance Policies are created equal. So before you commit, it’s a good idea to compare policies. At iSelect we’re here to help! Through our comparison service, you can compare Landlord Insurance and other kinds of Home Insurance Policies, and even switch policies, all at no added cost to you.

Get started on comparing home and contents today!

Save time and effort by comparing a range of home and contents insurance policies with iSelect

iSelect does not compare all home and contents insurers or policies in the market. The availability of policies may change from time to time. Not all policies available from iSelect’s providers are compared by iSelect and due to commercial arrangements, area or availability, not all policies compared by iSelect will be available to all customers. Some policies are only available from iSelect’s call centre or website. A number of our participating general insurance brands are arranged by Auto & General Services Pty Ltd ACN 003 617 909 on behalf of Auto & General Insurance Company Limited 111 586 353, both of which are related entities of iSelect Limited. Our relationship with those companies does not impact the integrity of our comparison service. Click here to view iSelect’s range of providers.

iSelect General Pty Ltd ABN 90 131 798 126, AFS Licence Number 334115. Any advice provided by iSelect on this website is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect’s advice or purchasing any policy. You should consider iSelect’s  Financial Services Guide  which provides information about our services and your rights as a client of iSelect. iSelect receives commission for each policy sold that is a percentage of the premium or a flat fee. Ask us for more details before we provide you with any services.