Key takeaways
- Standard home insurance does not cover landlord-specific risks like tenant damage, loss of rental income, or tribunal costs. You need a separate landlord insurance policy.
- Specialist insurers (Terri Scheer, EBM RentCover) offer deeper coverage and claims teams experienced with landlord scenarios. Generalist insurers (Allianz, QBE, GIO, AAMI) may offer lower premiums and multi-policy discounts.
- The three most important coverage areas to check are loss of rental income, tenant damage (both malicious and accidental), and legal expenses for tribunal proceedings.
- Landlord insurance premiums are fully tax-deductible against your rental income in the year they are paid.
- Always read the Product Disclosure Statement carefully, as coverage, exclusions, and excess amounts vary significantly between providers and states.
Landlord insurance is one of those things you hope you never need to use, but absolutely must have. Standard home insurance does not cover the risks specific to renting out a property: tenant damage, loss of rental income, legal liability from tenants or visitors, and the costs of eviction and tribunal proceedings. For a deeper dive, see our landlord insurance guide.
The Australian landlord insurance market has several established players, each with slightly different coverage, excess structures, and pricing. Understanding the full cost of owning a rental property helps you budget for insurance alongside other expenses. Choosing between them comes down to what risks matter most to you, what your property type requires, and how much you want to pay.
This guide compares six landlord insurance providers available in Australia. We are not insurance brokers and do not sell insurance. propkt is a property management tool that helps you track insurance documents and expiry dates with automated reminders, but we do not provide or recommend specific insurance products. This guide is educational.
1. Terri Scheer
Best for: Landlords who want a specialist insurer focused entirely on landlord insurance
Pricing: Varies by property, location, and coverage level. Get a quote from their website.
Terri Scheer is one of Australia's best-known landlord insurance specialists. Unlike general insurers that offer landlord cover as an add-on to home insurance, Terri Scheer focuses exclusively on landlord and rental property insurance. This specialisation means their products are designed specifically for the risks landlords face.
Terri Scheer's standard landlord insurance policy typically covers building and contents, loss of rental income, tenant damage (malicious and accidental), legal liability, and legal expenses for tribunal or court proceedings. They also offer policies for landlords who rent their property through short-stay platforms.
The specialist focus means Terri Scheer's claims team understands landlord-specific scenarios. When you lodge a claim for tenant damage or loss of rent, you are dealing with people who handle these claims daily rather than general home insurance claims staff.
Pros:
- Specialist landlord insurer (not a generalist)
- Covers malicious and accidental tenant damage
- Loss of rental income cover
- Legal liability and legal expenses included
- Short-stay rental policies available
Cons:
- Premiums may be higher than generalist insurers
- Online quote process can require significant detail
- Policy specifics (exclusions, excess) vary by state
Best if you want a specialist insurer whose entire business is landlord insurance. Particularly valuable if you have concerns about tenant damage or loss of rental income.
2. EBM RentCover
Best for: Landlords who want comprehensive cover with flexible policy options
Pricing: Varies by property, location, and coverage level. Get a quote from their website.
EBM RentCover is another well-established landlord insurance provider in Australia. Their RentCover product line includes several policy tiers, from basic building and contents cover to comprehensive policies that include tenant damage, loss of rent, and legal expenses.
EBM RentCover is part of the Steadfast group, one of Australia's largest insurance broker networks. This gives them access to competitive underwriting and broad coverage options. Their policies are designed specifically for rental properties and understand the nuances of landlord risk.
One of EBM RentCover's strengths is the flexibility of their policy options. You can choose different levels of cover depending on your risk profile and budget, which allows you to balance premium cost against coverage depth.
Pros:
- Multiple policy tiers for different coverage needs
- Part of a major insurance broker network (Steadfast)
- Covers tenant damage, loss of rent, and legal expenses
- Flexible excess options
- Good online tools for quotes and policy management
Cons:
- Policy options can be confusing for first-time buyers
- Premiums and coverage vary significantly by location
- Claims process may involve multiple parties
Best if you want flexibility in your coverage level and value having multiple policy tiers to choose from.
3. GIO
Best for: NSW and ACT landlords who want landlord insurance from a familiar, established brand
Pricing: Varies by property and coverage. Get a quote from their website.
GIO is an established Australian insurer that offers landlord insurance as part of its broader product range. GIO's landlord insurance covers building and contents, loss of rental income, tenant damage, and legal liability. The product is straightforward and integrates with GIO's other insurance products if you have a multi-policy relationship.
GIO has particularly strong brand recognition in New South Wales and the ACT, where many landlords already hold home, car, or business insurance with them. Bundling landlord insurance with existing policies may offer multi-policy discounts.
As a generalist insurer, GIO's landlord cover is competent but not specialist. The product covers the core risks, but the depth of coverage for landlord-specific scenarios (like tribunal legal expenses or extended vacancy after tenant damage) may not match specialist providers.
Pros:
- Established brand with strong recognition in NSW/ACT
- Multi-policy discount potential
- Straightforward product and claims process
- Building and contents, loss of rent, and liability covered
Cons:
- Generalist insurer, not a landlord specialist
- Coverage depth may not match specialist providers
- Availability and pricing vary by state
- May not cover all landlord-specific scenarios
Best if you already insure with GIO and want to bundle your landlord insurance for simplicity and potential discounts.
4. Allianz
Best for: Landlords who want a global insurer with a strong Australian presence and online policy management
Pricing: Varies by property and coverage. Get a quote from their website.
Allianz offers landlord insurance as part of its comprehensive product range. The policy covers building and contents, loss of rental income, tenant damage, and legal liability. Allianz is a global insurance company with a strong Australian operation, offering competitive premiums and a well-regarded claims process.
Allianz's online policy management is a strength. You can get quotes, purchase, manage, and renew policies online. The claims process is digital-first, which can speed up resolution compared to paper-based processes.
Like GIO, Allianz is a generalist insurer. Their landlord product is solid but designed as part of a broader home insurance offering rather than built ground-up for landlord needs.
Pros:
- Global insurer with strong Australian presence
- Good online policy management and claims process
- Competitive premiums
- Multi-policy bundling options
Cons:
- Generalist insurer, not landlord-specialist
- Coverage details may be less tailored to landlord scenarios
- Policy terms and exclusions require careful reading
- Claims experience may vary by state
Best if you value a strong brand, competitive pricing, and good digital policy management.
5. QBE
Best for: Landlords who want competitive premiums from a major Australian insurer
Pricing: Varies by property and coverage. Get a quote from their website.
QBE is one of Australia's largest general insurers, offering landlord insurance as part of its property insurance range. QBE's landlord policy covers building and contents, loss of rental income, tenant damage, and legal liability. The company has a long history in the Australian market and is known for competitive pricing.
QBE's strength is its underwriting capability and competitive premiums. As a large insurer, QBE can often offer lower premiums than smaller or specialist providers, particularly for standard properties in low-risk areas.
Pros:
- Major Australian insurer with competitive premiums
- Comprehensive building and contents cover
- Loss of rent and tenant damage included
- Strong financial backing
Cons:
- Generalist insurer
- Online tools may be less sophisticated than competitors
- Coverage depth for landlord-specific risks may be limited
- Policy documentation can be lengthy
Best if you want competitive premiums from a financially strong insurer and your property has a standard risk profile.
6. AAMI
Best for: Landlords who want simple, straightforward landlord insurance with good brand recognition
Pricing: Varies by property and coverage. Get a quote from their website.
AAMI offers landlord insurance as part of its home insurance product range. The policy covers building and contents, loss of rental income, tenant damage, and legal liability. AAMI is a well-known Australian brand (part of the Suncorp group) with strong consumer recognition.
AAMI's approach is simplicity. The product is designed to be easy to understand, quote, and purchase. For landlords who want straightforward cover without complex policy options, AAMI provides a no-fuss experience.
Pros:
- Well-known Australian brand
- Simple, easy-to-understand products
- Quick online quoting process
- Part of the Suncorp group (strong financial backing)
Cons:
- Generalist insurer
- Limited customisation options
- Coverage depth may not match specialist providers
- Not available for all property types or locations
Best if you want simple, straightforward landlord insurance from a familiar brand without spending hours comparing policy options.
What Landlord Insurance Should Cover
Before comparing providers, understand what a good landlord insurance policy should include:
| Coverage | Why It Matters |
|---|---|
| Building damage | Covers the structure itself against damage from storms, fire, flooding |
| Contents damage | Covers landlord-owned items (carpets, blinds, appliances) |
| Tenant damage | Covers malicious or accidental damage caused by tenants |
| Loss of rental income | Pays rental income while the property is uninhabitable due to an insured event |
| Legal liability | Covers claims if someone is injured at your property |
| Legal expenses | Covers costs of tribunal or court proceedings (e.g., for eviction) |
Always read the Product Disclosure Statement (PDS) carefully. Coverage, exclusions, and excess amounts vary significantly between providers.
How propkt Helps with Insurance
propkt does not sell or recommend insurance, but it helps you manage your insurance documentation. The document vault stores your insurance policies, certificates of currency, and PDS documents alongside your other property records. Automated reminders notify you before your insurance policy expires, so you never accidentally let your cover lapse.
Keeping all your insurance documents in one place means you can find your policy details quickly when you need to make a claim, and the expiry reminders ensure continuous coverage.
How We Chose These Providers
We included providers based on criteria relevant to Australian landlords:
- Market presence: Is the provider established and financially stable?
- Landlord-specific coverage: Does the policy cover the core risks landlords face?
- Pricing transparency: Can you get a quote online without lengthy phone calls?
- Claims reputation: What is the provider's reputation for handling claims fairly?
- Availability: Is the product available across Australian states?
Final Thoughts
Landlord insurance is not an area to cut corners. It is also a tax-deductible expense for investment properties. A single tenant damage incident or extended vacancy can cost thousands of dollars. The difference in annual premiums between providers is usually modest compared to the cost of an uninsured event.
If landlord insurance is your primary concern, start with the specialist providers: Terri Scheer and EBM RentCover. Their products are designed specifically for the risks landlords face, and their claims teams understand landlord scenarios.
If you already insure with a generalist like Allianz, QBE, GIO, or AAMI and want the convenience of bundling, compare their landlord product against the specialists. Sometimes the multi-policy discount and administrative simplicity outweigh the marginal difference in coverage.
Whichever provider you choose, make sure your policy covers loss of rental income, tenant damage (both malicious and accidental), and legal expenses. These are the three coverage areas most likely to save you significant money when something goes wrong. And store your policy documents in propkt's document vault so they are always at hand when you need them. For a full overview of landlord expenses you can claim at tax time, including insurance premiums, see our guide.