Australia’s best landlord insurance in 2021

Couple moving into home

If you’re the owner of an investment property, landlord insurance can help protect you from the risks associated with housing tenants, alongside other unforeseeable incidents you’d expect to be covered by home insurance. Whether you’re concerned about property damage or loss of rental income, there are a number of options that may present the best landlord insurance for your property and needs as a homeowner. 

To help you find the right policy for your investment property, our team of experts search for insurance products that offer great value for  high quality features. Mozo’s expert analysts and judges studied 38 landlord insurance policies and collected more than 2,000 unique quotes to assess policies on coverage and value for the 2021 Mozo Experts Choice Landlord Insurance Awards.

The awards are split into two categories – Exceptional Value and Exceptional Quality. This is so consumers can research options based on how comprehensive the coverage is, as well as how competitively priced policies are for the features they offer.

For a little extra insight into what some of the award-winning policies offer, we’ve laid out the details of a few options here. For more details on the full list of winning policies, head over to our awards page.

The best landlord insurance for 2021

Budget Direct Home & Contents Insurance

  • 30% online discount (on first year’s premium)
  • New-for-old contents cover
  • Up to $20 million legal liability cover

If you’re after a landlord insurance policy that provides both exceptional value and quality, look no further than Budget Direct Home & Contents Insurance, which took home awards in both categories for 2021. This policy covers your property and valuables for a range of events including accidental breakage of glass, theft and natural disasters such as lightning strikes and storms.  Right now, Budget Direct is also offering a 30% online discount on the first year’s premium when you combine home and contents insurance, which could be useful for landlords with furnished rentals. 

QBE Building and Contents Insurance

  • Accidental home and contents damage cover for you, your tenants or paying guests
  • Up to $30 million legal liability cover
  • Up to 30% underinsurance protection

Awarded Exceptional Value Landlord Insurance for 2021, QBE Building and Contents Insurance covers your property and valuables in a range of situations, including accidental and malicious damage, and natural disasters such as storms, fire, theft and flooding as standard. QBE also covers emergency temporary repairs with this policy, as well as environmental upgrades and loss of rent after an insurable event if your property is unlivable. Underinsurance protection up to 30% of your property’s value is also included in this policy as standard for extra security. 

ING Home & Contents Insurance

  • 30% online discount on first year’s premium
  • New-for-old cover
  • Up to $20 million legal liability cover

Winning in both the Exceptional Value and Exceptional Quality categories, ING Home & Contents Insurance provides landlords with great cover for their property and any contents they keep at the address. ING offers coverage in a range of scenarios, including accidental breakage of glass, theft and natural disasters. With their new-for-old cover, you can expect ING to replace any lost or damaged contents with brand new items of comparable value. ING is currently offering a 30% online discount for the first year’s premium on combined home and contents policies.

More Mozo Experts Choice Award-winners

Everybody has a unique situation that will come into play when choosing the best landlord insurance for them. Regardless of your circumstances, price will feature pretty highly on that list of priorities, as will finding a mix of coverage that’s right for you and your investment property. A good place to start researching the details on these various features and limits is in the product disclosure statement (PDS) for each policy.

Below is a rundown of the winners in the Exceptional Value and Exceptional Quality categories for this year’s Mozo Experts Choice Awards for Landlord Insurance^. 

Exceptional Value Landlord Insurance Winners

Protecting your investment property against unexpected events doesn’t need to break the bank. Balancing your expenses against the income generated by your rental property can be a tricky puzzle, but our experts have assessed that the below winners can keep your ongoing costs low while offsetting the risk of damage to the property. Using 2,000 customer quotes across 38 landlord insurance providers, our panel of experts awarded the following policies.

  • Budget Direct Home & Contents Insurance
  • ING Home & Contents Insurance
  • QBE Building & Contents Insurance
  • TIO Landlord Insurance
  • St.George Essential Care Landlord (Home & Contents)
  • Westpac Essential Care Landlord (Home & Contents)

Exceptional Quality Landlord Insurance Winners

When assessing the quality of landlord insurance policies on offer, our experts assessed the level of cover offered for a range of events that included loss of rent, acts of tenants and legal liabilities, among others. After assessing 38 policies, our panel of experts awarded the four following:

  • ANZ Landlord Building & Contents Insurance
  • Budget Direct Home & Contents Insurance
  • GIO Property & Contents Insurance
  • ING Building & Contents Insurance

*Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.

^See information about the Mozo Experts Choice Home Insurance Awards

Learn more about the judging process by reading our Mozo Experts Choice Home and Landlord Insurance Awards methodology report.