Best Landlord Insurance 2018

Congratulations to the winners of Mozo Experts Choice Awards for the best landlord insurance 2018. These awards recognise insurance products that provide property investors with exceptional value for money and exceptional quality cover and benefits. So if it’s time to renew the cover on your rental property, this winners list is a great place to start your search.

Experts choice awards hero 2018

What are the Mozo Experts Choice Awards?

The Mozo Experts Choice Awards have been running since 2014 and recognise products that offer customers the very best in the market.

The Exceptional Value awards recognise insurance policies that are among the best-priced for the cover they offer. For these awards, we obtained a range of quotes covering over 2,000 different landlord scenarios.

The Exceptional Quality awards recognise premium insurance products that offer the very highest levels of protection and benefits. For this award we assessed quality of cover on each product, comparing a wide range of features including loss of rent, damage by tenants and flood. Mozo also assessed their track record of handling disputes with the financial ombudsman services.

For details on how we crunched the numbers and determined our winners see our 2018 Mozo Experts Choice Awards Insurance methodology report.

Exceptional Value Landlord Insurance

Budget Direct - Landlord Insurance

Optional Extra

Optional Extra

Up to 12 months, up to 10% of sum insured

Budget Direct offer great prices on a flexible product that allows you to choose whether you want underinsurance protection, accidental loss and damage cover, and key tenant covers including theft or vandalism and rent default. All policies include loss of rent for up to 12 months (up to 10% of the sum insured).

ING - Building & Contents

Optional Extra

Optional Extra

Up to 12 months, up to 10% of sum insured

Sharply priced, with plenty of flexibility (wide range of excesses to choose from, optional underinsurance protection, motor fusion, accidental loss & damage, theft or vandalism by tenant, rent default by tenant) plus up to 10% of the sum insured for loss of rent.

Westpac - Landlord Insurance Quality Care

Optional Extra - limit $10,000, up to $5,000 in legal costs

Optional Extra

Up to 12 months, up to 10% of sum insured

Westpac’s Quality Care provides some of the best cover in the market, and was judged to be the most affordable of the premium products available. 10% underinsurance built in, carpets and household appliances covered up to the sum insured. A wide range of excesses to help reduce annual premiums.

Woolworths - Landlords Insurance

Optional Extra - limit $10,000, up to $1,000 in legal costs

Up to 20% of sum insured, up to $35,000

Up to 12 months, up to 10% of sum insured

Among the most affordable products to offer a good level of cover. Has protection for theft or vandalism by a tenant built into every policy and cover continues when the home is unoccupied for up to 90 days.

RAC - Landlord’s Insurance

Up to $3,000

Up to $10,000

Up to 12 months

For WA properties, this is very competitively priced and might be one for your shortlist. Debris removal and gates and fences are covered up to the sum insured and there's up to $10,000 allowed for both carpets and household appliances combined with a full 12 months cover for loss of rent.

Exceptional Quality Landlord Insurance

ANZ logo
ANZ - Landlord Insurance
  • Up to 12 weeks cover on rent default

  • Theft & vandalism by tenant included as standard

  • Loss of rent cover up to 12 months or $52,000

ANZ offers full building replacement cover so you'll never be caught out being underinsured. Not all insurers will cover damage resulting from a power surge but ANZ does. A standout is the 120 days that cover will continue if the building is unoccupied, versus the maximum of 90 days offered by all the other insurers surveyed. No extra charge for monthly premiums.

CommInsure logo
CommInsure - Investment Home Package
  • Option to include up to 16 weeks cover for rent default

  • Optional cover for theft & vandalism by tenant

  • Loss of rent cover up to 52 weeks

Comminsure includes accidental loss and damage up to the sum insured as standard as well as 52 weeks lost rent. Budgeting is made easier by the ability to pay premiums monthly for no extra cost and there's underinsurance protection of up to 25%.

Westpac logo
Westpac - Landlord Insurance Quality Care
  • Option to include up to $10,000 cover for rent default

  • Optional cover for theft & vandalism by tenant

  • Loss of rent cover up to 12 months, up to 10% of sum insured

Also a winner in the Value awards for being the most competitively priced of all our Quality winners. Westpac includes underinsurance protection up to 20% for the building and 10% for contents and will cover damage that results from a storm surge. There's no extra charge for paying monthly premiums.

RACV logo
RACV - Landlord Insurance
  • Up to $10,000 cover for rent default

  • Cover for theft & vandalism by tenant as standard

  • Loss of rent cover up to 12 months

For Victorian landlords, RACV offers cover for a wide range of events including storm surge, power surge and motor fusion. This insurance will cover all costs relating to theft or vandalism by a tenant up to the sum insured and 12 months lost rent.

FAQs:

What’s the Judging Criteria for the awards?

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers and have been running since 2014.

For Exceptional Quality Awards, the criteria for landlord insurance included:

  • How well the policy scored on a range of factors including the nature and extent of the insurance cover, and the inclusion of added benefits - in other words, what’s covered and up to what limit?
  • Whether disputes are relatively rare, and when they do happen are they resolved quickly?

For Exceptional Value Awards, we considered a total of 2,000 insurance customer scenarios, and determined the percentage of those scenarios where a given policy would feature among the 4 cheapest quotes.

See our methodology report for more detailed information on how we performed the price comparisons and determined the final winners list.

Did you compare all insurance policies in the market for these awards?

We won't have covered every insurance product out there, but we try to include all the major brands - and not just those we have a commercial relationship with. In this year’s awards we assessed 34 different products.

How do I find the cheapest landlord insurance policy for me?

You’ll want to check out the winners in the Exceptional Value category. Our experts crunched the data on a range of customer scenarios and these were the insurers and policies that came out the cheapest when compared to similar policies.  

It’s important to understand that many factors go into determining the cost of insurance such as location, building type and security features, so you’ll still need to do some comparing of features and options to find a policy that is right for you and then get quotes so that you can compare the price.

What product features or benefits did you consider for the Exceptional Quality Awards?

For landlord insurance, we considered a total of 20 features with the essential ones being: loss of rent, rent default, theft or vandalism by tenant. If you’d like to see the full list, read the methodology report.

Who are Mozo’s experts?

Our research team is headed by our Data Services Director and our Product Data Manager who have over 50 years of combined financial services experience and 22 years in online financial comparison.

I work for an insurer, how do we promote our win?

Please get in touch with us to discuss by emailing or phoning our advertising sales team on 02 9037 4368.