Landlord Insurance

Safeguards rental property owners from tenant-related risks.

Landlord insurance is designed for owners of rental properties. It typically covers the building (if you own a house or unit, though if it's a strata unit the building may be covered by body corporate insurance) and can also cover landlord-specific risks. These include loss of rental income if a tenant defaults or if the property becomes uninhabitable due to damage, and cover for malicious or accidental damage caused by tenants. It usually also includes liability cover in case a tenant or visitor is injured at the property and holds you responsible. This insurance helps protect your investment property and income stream from unexpected events.

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Key Benefits

Why choose this insurance coverage

Rental Income Protection

Covers loss of rent if your tenant stops paying or if the property is uninhabitable due to an insured event (like a fire or storm). This ensures you can still receive income to cover mortgages or expenses when your property can't be rented out.

Tenant Damage Cover

Protects against malicious damage or excessive accidental damage caused by tenants or their guests – for example, if a tenant vandalizes the property or accidentally causes a fire. It covers repair costs that a standard home policy might not.

Liability for Landlords

Provides legal liability coverage specific to rental properties. If a tenant or visitor is injured at the property (say, due to a maintenance issue) and seeks compensation, this cover handles legal costs and payouts, protecting you as the owner.

Frequently Asked Questions

Common questions about landlord insurance

Yes, many landlord insurance policies include cover for tenant default, meaning if a tenant stops paying rent or has to be evicted, the policy will pay the lost rent for a specified period. There are usually conditions (like having a proper lease in place and steps you must take to mitigate losses), so check the policy details.

Generally, yes. In Australia, the premiums you pay for landlord insurance on a rental property are typically tax-deductible expenses, since they are part of the cost of earning your rental income. Always confirm with a tax advisor or the ATO for your specific situation.

Standard home insurance covers an owner-occupied property for building and contents. Landlord insurance includes similar building cover (and optional contents cover for any landlord-owned items like furnished appliances) but adds protection tailored for rentals – such as cover for tenant-related damage, loss of rent, and liability when you have paying tenants.

If your rental property is furnished or you have items that belong to you (like appliances, curtains, or furniture provided for tenants), you should include contents cover for those items. If the property is rented unfurnished and the tenant provides their own belongings, you may only need building and landlord-specific covers.