What’s covered?

Building insurance covers
Contents insurance covers

Investment property

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.

Lost rent

Loss of net rental income for the period your investment property is uninhabitable due to an insured event.

Fixtures

Loss or damage to your rental property’s fixed floor coverings (except fitted carpets) and external window coverings (e.g. awnings).

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Terms, conditions, limits and exclusions apply. For full details, please read the product disclosure statement.

Note that, while we do not insure strata-title buildings, we do cover their contents.

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.

Locks

Replacement of locks or key codes if the keys to your property’s external doors and/or windows are stolen anywhere in Australia.

Fittings

Loss or damage to your rental property’s carpets (loose and fitted), lights and internal window coverings (e.g. curtains).

Compare all benefits and features

Terms, conditions, limits and exclusions apply. For full details, please read the product disclosure statement.

Note that, while we do not insure strata-title buildings, we do cover their contents.

Insured events

  • Impact at home (e.g. fallen tree)
  • Accidental breakage of glass, ceramic and sanitary fixtures
  • Explosion
  • Earthquake

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:

Tenant Default

In case your tenant fails to pay their rent or leaves unexpectedly.

Tenant Theft and Malicious Damage

Up to $10,000 cover for theft or malicious damage by your tenants or their visitors or guests.

Flood Cover

Covers your building and/or contents for damage or loss caused by flooding rivers, creeks and other bodies of water.

Sum Insured Safeguard

If your nominated sum insured is insufficient to repair or replace your investment property, we’ll increase it by up to 25% (e.g. from $400,000 to $500,000).

How can I add these optional covers to my policy?

You can add one or more of these optional covers when you get a quote and buy a policy or – if you’ve already bought a policy – by calling us on 1800 182 310 or logging into your online account and editing your 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.

Use these calculators to help you estimate the cost of replacing your property and contents

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

If your investment property and/or contents are lost, damaged or destroyed by an insured event and you need to make a claim, we’re here to help. Make a claim on your landlord insurance policy.

Award-winning Australian home insurance

After comparing the cost and features of nearly 150 policies offered by more than 50 insurance providers, Canstar awarded us one of three national awards for Outstanding Value Home and Contents Insurance in 2017. 

We also won Money Magazine’s 2018 Best of the Best award for Cheapest Home and Contents Insurance; and Mozo’s 2017 People’s Choice (Outstanding Customer Satisfaction, and Excellent Customer Experience) and Experts Choice (Exceptional Value) awards for home insurance.

CANSTAR's Outstanding Value Home & Contents Insurance Australia 2017
Money Magazine's Cheapest Home & Contents Insurance 2018
MOZO's People's Choice 2017 - Outstanding Customer Satisfaction
MOZO's Experts Choice 2017 - Exceptional Value Home and Contents Insurance

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.

How can I get my certificate of currency?

Log into your online account to download your certificate  or call us on 1800 182 310 to ask us to email it to you.

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).

Excess Amount
Basic

$100 to $5,0001

Fixed
Based on perceived risk; may not apply to your policy

Subject to underwriting criteria

Tenant Default2

4 weeks’ rent

Tenant Theft and Malicious Damage2

4 weeks’ rent

Earthquake

$500

Your certificate of insurance shows you the amount and types of excess that apply to your cover; they can also be viewed in your online account.

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.
† {comparitron-disclaimer}

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