Why Landlord Insurance Is More Important Than Ever

As property managers, we see firsthand how quickly unexpected events can impact a rental property - whether it’s tenant damage, storm events, water leaks, or loss of rent. While building insurance is essential, landlord insurance is the specialised protection every investment property needs.

 

Why Every Landlord Should Have Landlord Insurance

Owning an investment property comes with unique risks that standard home insurance does not cover. Landlord insurance is designed specifically to protect your rental income, property, and contents against events that occur only in a tenancy situation.

 

Here’s why it matters:

• Protects rental income if the property becomes uninhabitable due to an insured event.
• Covers loss or damage caused by tenants - accidental, intentional/malicious, or through theft.
• Covers landlord-supplied contents such as carpets, blinds, appliances and sometimes furniture.
• Provides legal liability protection if a tenant or visitor is injured on the property.
• Offers optional rent-default cover, depending on the insurer and policy.

 

In today’s climate - with rising repair costs, severe weather events, and increased tenant turnover - having the right insurance ensures landlords are not exposed to out-of-pocket losses.

 

What Does Landlord Insurance Typically Cover?

While each insurer differs, most policies include some or all of the following:

 

✔ Building Damage

Fire, storm, flood, burst pipes, vandalism, malicious damage, impact damage, and more.

✔ Contents Damage

Covers carpets, blinds, light fittings, appliances and other landlord-owned items inside the property.

✔ Rental Income Protection

Loss of rent if the property is uninhabitable after an insured event.

✔ Optional Rent Default

Cover if a tenant stops paying rent (depending on the insurer's conditions).

✔ Legal Liability

Protection if someone is injured at the property and the landlord is found legally responsible.

 

Top 4 Landlord Insurance Providers in Australia

Here are four leading insurers widely used and trusted by Australian landlords, including direct contact numbers for easy reference:

 

Terri Scheer – Specialist Landlord Insurance

Australia’s best-known dedicated landlord insurer.

• Phone: 1800 804 016
• Website: terrischeer.com.au
• Known for strong rent default cover, tenant damage protection, and landlord-specific policy options.

 

Allianz Australia

A major national insurer offering comprehensive landlord cover.

• General Enquiries: 13 10 00
• Website: allianz.com.au
• Strong cover for building, contents, loss of rent and optional rent default.

 

EBM RentCover

Highly regarded, especially for strata and freestanding homes.

• Phone: 1800 661 662
• Website: rentcover.com.au
• Known for clear policy wording, broad tenant damage cover and quick claims processing.

 

QBE Insurance

Another major insurer offering landlord-specific protection.

• Phone: 133 723
• Website: qbe.com.au
• Offers landlord building and contents insurance, plus optional rent default.

 

Our Recommendation

While landlord insurance is not mandatory, it remains one of the most important safeguards for any investment property. Standard building insurance alone is rarely sufficient, as it does not address the unique risks associated with tenancies. Reviewing your landlord policy annually ensures your cover, insured amounts and any rent-default options remain appropriate for the current market. Ultimately, the right landlord insurance provides financial protection, minimises risk, and offers invaluable peace of mind for every property investor.

 

Please reach out if you have any questions about your investment.

 

Warm Regards,