Cost to repair or replace your rental property building due to damage or loss caused by severe weather, fire, and more.
Debris removal and extra rebuilding costs
Removal of debris, demolition, professional (e.g. architect, surveyor, engineer) and building-application fees, and storage of undamaged contents.
Loss of net rental income for the period your investment property is uninhabitable due to an insured event.
Items permanently attached to your home or buildings at the insured address, but not carpets or internal window coverings.
Contents you own
Cost to repair or replace (new for old) lost or damaged contents you provide for your tenant’s use, including furniture and whitegoods.
Contents in open air
Contents lost or damaged in the open air at the insured address due to an insured event.
Replacement of locks or key codes if the keys to your property’s external doors and/or windows are stolen anywhere in Australia.
Loss or damage to your rental property’s carpets (loose and fitted), lights and internal window coverings (e.g. curtains).
- Impact at home (e.g. fallen tree)
- Accidental breakage of glass, ceramic and sanitary fixtures
Upgrade your cover
For an additional premium, you can customise your landlord insurance by adding one or more of the following optional covers to your policy:
How can I add these optional covers to my policy?
How much cover do I need?
It’s up to you to determine how much it would cost to replace your investment property and any contents you own if they were totally destroyed, for example, by fire – the ‘sum insured’.
This is the maximum amount we’ll pay, so it’s important you’re comfortable the sum insured you nominate is sufficient to replace your entire property and all of your contents at today’s prices.
Compare home insurance savings
Compared to their previous insurers’ premiums, customers across Australia who switched to Budget Direct home insurance told us they saved an average of
Use our Comparitron™ tool to view our customers’ self-reported savings.
Get a quote online and save up to 30%^
Getting a Budget Direct home building and/or contents insurance quote is quick and easy.
Get a quote and buy online and save 15% (building or contents) or 30% (combined building and contents); or call us on 1800 288 149.
Find out more
The information on this page is a summary only. For more details about Budget Direct home and contents insurance, including the terms, conditions, limits and exclusions that apply, please read the product disclosure statement.
How to make a claim
Award-winning Australian home insurance
After comparing quotes for 34 policies and over 2,000 landlord scenarios, Mozo presented us with an Experts Choice Award 2018 for Exceptional Value Landlord Insurance.
We also won one of three national Canstar Outstanding Value Home and Contents Insurance awards in 2018; and Money magazine's Best of the Best title for Cheapest Home & Contents Insurance three years running (2017-19).
To cap it off, the Australian public voted us the Gold Winner in the Home & Contents Insurance category of the 2019 Reader's Digest Quality Service Awards survey.
Frequently asked questions
Do you offer strata title insurance?
We don’t insure strata-title buildings, however we do cover their contents.
How soon after buying my investment property must I insure it?
It’s not a legal requirement, however your lawyer or conveyancer will usually recommend you insure your investment property when you exchange signed copies of the purchase contract with the seller.
Also, most mortgage lenders require you to take out insurance before the loan becomes unconditional.
What excess would I have to pay on a claim?
If you make a claim, you’ll be required to pay a Basic Excess and any additional excesses that apply (see table below).
$100 to $5,0001
Based on perceived risk; may not apply to your policy
Subject to underwriting criteria
4 weeks’ rent
Tenant Theft and Malicious Damage2
4 weeks’ rent
Do I have to provide you with a copy of the rental agreement?
You won’t need to provide us with a copy of your rental agreement when you buy building and/or contents insurance.
However, because our acceptance of landlord claims is conditional on a written rental agreement being in place, we’ll need to see a copy of the agreement if you lodge a claim.
Home Insurance Knowledge Base
Your questions about insurance all
answered in one place.
^ The online discount applies to the premium paid for a new Budget Direct insurance policy initiated online on or after 29 March 2017. The discount varies by product: 30% for combined Smart Home & Contents insurance, 15% for Smart Home only or Smart Contents only policies. We reserve the right to change the offer without notice. The base-rate premiums are subject to change. The discount does not apply to any renewal offer of insurance.
* Based on a survey of Budget Direct Home Insurance customers conducted between 10 February 2015 and 31 October 2017. Visit www.budgetdirectreviews.com.au for more details.
|| Damage caused by an insured event. The benefit is capped at 10% of your sum insured. For more details, please read the product disclosure statement.