skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus

Is your investment property protected from accidents? 

Published 10 January 2019

It’s easy to see why Australians love property: it’s an investment you can see and touch, it provides a regular rental income and it has the potential to increase in value over time.

A common question asked amongst property investors is ‘Am I financially prepared to cover the costs if there’s accidental damage to my property?’

The likely answer is ‘no’ as repair costs and the possible loss of rent, could quickly turn your investment into a source of financial stress and be detrimental to your cash flow.

Landlord insurance can cover you against unforeseen repair bills and even the cost of replacing the property building(s) altogether.

What does landlord insurance cover?

Like general home and contents insurance, you can get landlord insurance for:

  • Buildings on the property, for protection against natural disasters, fire or explosion, or damage resulting from impact. For instance, if a tree falls on your building, coverage usually includes built-in air conditioners, light fittings, or garden sheds;
  • Contents, which safeguards any furniture, carpets, floorboards, or electrical equipment you’ve supplied for your tenants, and can include things like blinds, outdoor plants and lawnmowers;
  • or combined cover for both buildings and contents.

Protection from problem tenants

Landlord insurance can also cover specific risks that owner-occupiers don’t have to worry about, such as damage caused by a tenant.

You’ve probably heard horror stories such as tenants who punch holes in walls or have parties where guests vandalise the property, or those who steal furniture or leave quietly with months of rent owing. As well as the financial costs involved, it can be heartbreaking to see your hard-earned investment so thoughtlessly damaged.

If you’re faced with a problem tenant, landlord insurance could save you thousands of dollars in repairs. Landlord cover can also help cover the costs of taking legal action against difficult tenants.

What’s more, some landlord insurance policies will cover you for loss of rent while you repair the property so new tenants can move in.

Even good tenants can cause accidents

Thankfully, most tenants want to do the right thing. But of course, accidents do happen. For example, a harmless game of backyard cricket can end with a ball smashing through the kitchen window, a glass of red wine accidentally spilling causing damage to your carpet or furniture, a leaking washing machine could flood the ceiling of the apartment below resulting in huge repair and replacement bills.

That’s why it’s worth getting landlord insurance that includes accidental damage and liability cover. Check your policy’s product disclosure statement (PDS) to ensure it covers things such as accidental glass breakage and water damage.

What isn’t covered

It’s important to know, landlord insurance won’t generally cover expenses that are part and parcel of having an investment property. This could include general wear and tear, repairs and maintenance, or loss of rent if your property is sitting empty while you search for a tenant. Some policies also won’t cover any repairs your tenants make, or damage caused by their pets.

Your tenants should also take out contents cover to protect their own belongings such as furniture, computers, appliances and other valuables.

Keeping the cost of your insurance down

Landlord insurance is an investment in peace of mind, which could save you hundreds of thousands of dollars if your property is seriously damaged or destroyed.

If you’re on a tight budget it’s worth finding ways to lower the cost of your insurance, rather than opting not to take out landlord protection at all.

For starters, you might be able to reduce your premiums by choosing a higher excess. Also, you could be eligible for a discount if you combine buildings and contents cover on one policy, or when you have additional policies with the same insurer. And if you’re over 50, ask your insurer if seniors insurance discounts are available (sometimes referred to as an ‘over-50s’ discount).

Questions to consider before you buy

Landlord insurance policies differ depending on the insurer. So before you take out landlord cover consider your needs carefully, read the PDS and choose a policy that’s right for you. Ask yourself:

  • Do I need insurance for both buildings and contents?
  • Does the policy cover accidental damage, as well as malicious damage?
  • Does the policy include new-for-old contents replacement (e.g. if an older appliance is damaged and I need to replace it, will my insurance cover the cost of a brand new one).

Want to find out about ANZ Landlord Insurance?

Find out how ANZ Landlord Insurance can protect your investment property and cash flow.



Get protection quickly and easily with ANZ Landlord Insurance

13 16 14

Mon-Fri 8am to 7pm (AEST)

Learn more about home insurance


Landlord insurance FAQs


Find out how much landlord insurance costs, what can be covered, what might not be, how you could reduce your premium, and more.


Floods, bushfires and termites: what does home insurance cover?

Natural disasters like bushfires, floods, cyclones and hailstorms are inevitable. See our top tips on getting your home covered from disaster.


What are the top home and contents insurance tips?

Thieves, fires and accidents will strike renters, just as they do homeowners. At ANZ, we offer the same great contents insurance to all.

This information is current as at date of publication and is subject to change.

The issuer of this information is ANZ. While ANZ has taken care to ensure that this information is from reliable sources, it cannot warrant its accuracy, completeness or suitability for your intended use. To the extent permitted by law, ANZ does not accept any responsibility or liability arising from your use of this information.

ANZ Landlord Insurance is issued by QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239 545) (QBE). We recommend that you read the ANZ Financial Services Guide (PDF 479kB) and ANZ Landlord Insurance Product Disclosure Statement and Policy Document (PDF 1.2MB) (available online or by calling 13 16 14) before deciding whether to acquire, or to continue to hold, this product.

Although Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 AFSL 234527 distributes these products, ANZ does not guarantee the issuers or their products.

This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. 

The ANZ App is provided by ANZ. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. ANZ recommends that you read the ANZ App Terms and Conditions available at and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

Apple, the Apple logo, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.