As a landlord, you want to protect your most important asset. If anything ever went wrong at your investment property the dollar signs start adding up. Landlord insurance will protect you from damage to your property, defaults on your rent and many other things outlined in the policy. You'll want to find the best policy that works for you, so that's why our insurance experts read through the PDS's to pull out the jargon. So you can find the most important features that are important to you.
As the cost of living crisis wears on, it makes sense to get the best landlord insurance because you don't want to risk losing income on your investment property.
To help you find the best option for your needs, our insurance experts selected 4 policies based on factors such as cost, popularity, benefits and inclusions. We looked at 16 landlord insurance brands, analysed over 35 benefits and looked through each provider's product disclosure statements to see exactly what is and isn't covered.
Remember, there's no single best landlord insurance policy that suits everyone, since each of our needs are slightly different depending on the property we own, but we can help narrow down your options.
Budget Direct Landlord Insurance
In addition to our best landlord insurance picks, Finder's editor for insurance James Martin has reviewed landlord insurance policies in August 2024 and selected a policy that he believes is good value and worth considering.
What we like about Qantas landlord insurance: Amid high interest rates and sky-high insurance pricing, anything to keep a lid on bills should be warmly welcomed. New Finder research suggested Qantas offers comparatively low pricing for both buildings-only and combined cover. Keep in mind it's a less comprehensive policy than some others. You may want to add rent default cover and legal expenses on to your policy if these are important to you. Qantas is backed by a major insurer – Auto & General – which will bring added peace of mind for some.
There are 3 types of landlord insurance. The one you need depends on the property you own and whether or not it is furnished:
This covers loss or damage to the building itself. It's probably best if you own a freestanding house that is unfurnished.
This covers damage to the items you keep at the property. It's best for people who own a furnished strata property such as an apartment, which strata insurance may cover.
This protects the building and your items (not the tenants). It's suited to property owners with furnished houses (e.g. white goods, curtains, carpets).
If you're still looking for a policy, these 3 questions could help narrow down your search:
If so, then you probably don't need landlord building insurance – the strata insurance you pay will cover you.
Then you might want to get contents insurance to cover the items you keep at your property (in addition to building insurance if you own a freestanding house). Even if you only have items such as carpets, blinds and white goods, it can be worth getting. If something happens, the costs could be significant.
Rent default pays you an income if your tenant stops paying the rent – for example, if they lose their job or fall ill. You'll need to pay extra if you want this included in your policy.
Once you've narrowed down your options to a handful of insurers, it's worth getting quotes from each insurer. This will help you see who comes out on top for price.
Home insurance is essentially what it says on the box. Insurance to cover your home in the event of something going wrong at home. Landlord insurance works in a similar way as home insurance but includes extra things to cover a rental property. Depending on what policy you choose you'll be able to claim for things like damage to your property, types of water damage, lost rent or even tenancy default. You can also add in optional covers for appliances you furnish the property with. Remember to check the policy PDS for a list of inclusions and exclusions before you sign up.
These are our top landlord insurance picks but there are other policies out there. You can use our table below to compare all the landlord insurance policies available on Finder.
You pay the same as buying directly from the landlord insurer. Better still, we regularly run deals that you won't find on any other site – plus, our tables make it easy to compare policies.
Our team of insurance experts have researched and rated dozens of policies as part of our Finder Awards and published hundreds of guides to make it easier for you to compare.
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of landlord insurance brands, making it easier for you to find a good deal.
Clear and simple steps to find out if you need landlord insurance.
Landlord contents insurance: You might not think you need it, until you do.
Compare landlord insurance policies and get covered for the things that matter to you.
Find out how to get short term rental and Airbnb insurance
Your guide to landlord insurance in Victoria.
Your guide to landlord insurance in Western Australia.
Your guide to getting landlord insurance in Queensland.
Your quick guide to Virgin Money Landlord Insurance.
How does Kogan landlord insurance compare? See how it works, and some of the fine print to look out for.
Is there any Landlord Insurance which covers the scenario where a tenant sublets her residential rental when she goes on holidays, eg 2 months in France. She has not responded to request to answer if she is/is not doing so but the “visitor” has just confirmed she is paying the tenant to stay. This is in NSW.
Hi Cheryl,
This depends on which insurer you are with and what the specifics of your policy us. Many landlord insurers require a property manager to be professionally letting the property as part of the policy eligibility as this minimises their risk of something going wrong, so if this is a clause in your policy, it could cause some issues. I would recommend you contact your insurer to double check what applies in your situation.
Best of luck!