Landlord insurance in Queensland.

Landlord insurance covers risks a standard home policy does not, such as loss of rent, tenant-caused damage and owner liability. It is separate from building insurance and from a tenant's own contents cover. Premiums and inclusions vary, so compare policies. This is general information, not advice; confirm cover with your insurer.

What landlord insurance covers

While policies differ, landlord insurance is generally built around tenant-related risks: loss of rent in defined situations (for example if a tenant defaults or leaves early), malicious or accidental damage by a tenant, and liability if someone is injured at the property. Many policies also bundle building cover and cover for landlord-owned contents such as carpets, blinds and appliances.

What it usually does not cover

Landlord insurance is not a catch-all. General wear and tear, maintenance, and the tenant's own belongings are not covered. Specific exclusions and waiting periods apply, and limits vary widely, which is why reading the product disclosure statement matters more than the headline price.

Building vs landlord vs contents cover

These are three different things. Building insurance covers the structure. A tenant's contents insurance covers their belongings (and is theirs to arrange, not yours). Landlord insurance adds the tenant-related and rent-default protections that a standard home policy leaves out. For a rental, you generally want building cover plus landlord cover, either combined in one policy or held separately.

Is it worth it?

For most investors, yes. The premium is modest next to the cost of a single significant claim, such as months of unpaid rent or major tenant damage, and the premium is generally a deductible expense on an investment property. Weigh the cost against the risk you would otherwise carry yourself.

What to check in a policy

• Loss-of-rent cover, and the situations and time limits that apply
• Tenant damage cover, malicious and accidental, and the limits
• Whether building and landlord contents are included or separate
• Liability cover and the sum insured
• Excesses, waiting periods and exclusions

This guide is general information only and not financial or insurance advice. Cover, limits and exclusions vary between insurers, so read the product disclosure statement and confirm details with your insurer or broker.

Common questions