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.


Items permanently attached to the residential dwelling and outbuildings at the insured address, but not carpets or internal window coverings.

Compare all benefits, features and claim limits

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 temporarily removed

Contents lost or damaged after being temporarily removed — for 90 days or less — from your insured address.

Replacement of Locks

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).

Compare all benefits, features and claim limits

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

Budget Direct landlord insurance covers your investment property and any contents you own against loss or damage caused by the following insured events:

  • Storm and rainwater (flood cover is optional)
  • Fire
  • Lightning
  • Theft (or attempted theft)
  • Escape of liquid (e.g. burst pipe)
  • Impact at home (e.g. fallen tree)
  • Breakage of glass, ceramic and sanitary fixtures
  • Malicious damage, vandalism, riot or civil commotion
  • Explosion
  • Earthquake or tsunami

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 contents for loss or damage 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 do I add an optional cover 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 contacting us 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 ‘sums insured’.

These are the maximum amounts we’ll pay, so it’s important you’re comfortable the sums insured you nominate are sufficient to replace your property and contents you wish to insure, at today’s prices.

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

Compare home insurance savings

In comparison to their previous insurers’ premiums, customers across Australia who switched to Budget Direct Home and Contents Insurance told us they saved an average of


Use our Comparitron™ tool to compare home insurance savings reported by our customers.

Get a quote online and save up to 30%^

Getting a Budget Direct 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 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.

MOZO's Experts Choice 2018 - Exceptional Value Landlord Insurance
CANSTAR's Outstanding Value Home & Contents Insurance Australia 2018
Money Magazine's Insurer of the Year 2019
Money Magazine's Cheapest Home & Contents Insurance 2019
MOZO's Experts Choice 2018 - Exceptional Value Home and Contents Insurance
Reader's Digest - Quality Service Award 2019 - Winner

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

$100 to $5,0001

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 or tsunami


  1. You’ll be asked to nominate an excess within this range when you get a quote and buy a policy.
  2. This excess applies only if your policy includes these optional landlord covers.

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.

^ 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 and 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.
§ The addition of Flood Cover to a policy is subject to our underwriting criteria.
† {comparitron-disclaimer}

Get a home building insurance quote online