Landlord Insurance



You may become a property investor or developer to help yourself get ahead and perhaps build a nest egg for your future or retirement. For the most part, investment property ownership can be a rewarding experience, but it’s not always the case. Reliable tenants and a secure investment aren’t a given.

As a landlord, you need insurance to reduce the risk of damages or loss associated with your property.

Landlord insurance provides the protection you need to cover your property, asset, rental income and legal liabilities.

It is a specialist policy that provides considerably more coverage than normal home insurance. It is important to note that a standard home insurance policy would be invalid if your property is let to tenants. It’s just not worth the risk.

(1) Standard policy - provides cover for loss of rent, contents, and liability

(2) Combined Policy – provides cover for the building replacement as well as loss of rent, contents, and liability

For properties under a Strata Complex, unit or flat, the insurance for the building is looked after by the owner’s corporation, so there is no requirement to include insurance on the building as part of your landlord policy.

But if the property is a standalone house or duplex, building replacement cover is essential, and the Combined Landlord policy is required.


  • Accidental damage – if your tenant damages your property unintentionally. Most typical landlord insurance products on the market advise they include accidental damage cover, they limit this to Tenant Damage only. This means that only damage directly caused by a tenant is covered. Under the Coverguard Landlord policy - we have the only policy which provide Full Accidental Damage Cover. Where cover is provided irrespective of if the damage is directly caused by the tenant or not. Giving you peace of mind to know you’re covered. 
  • Malicious damage – if your tenants intentionally damage your property.
  • Employer’s liability – if you employ people in your property who then become injured as a result of your negligence.
  • Property owner’s liability – if you are deemed liable for damage or injury suffered by third parties arising from your ownership of the property.
  • Unoccupied property cover – if you have no tenants for a period of time and therefore aren’t getting rental income.
  • Loss of rent – if your tenants are unable to pay their rent, damage to the property  makes the property unable to be rented for a period of time, or if the Tenant defaults on payment of rent.
  • Tenant refusal to Vacate - the Coverguard policy also provides additional cover where a tenant refuses to pay rent and also refuses to vacate the property. The period of cover extends for 52 weeks with the policy also provides cover for the legal costs incurred during this process.
  •  Gap Cover – the Coverguard Landlord policy is the only landlord policy which extends an additional benefit to cover gaps in coverage where a claim for property damage where the building insurance fails to pick up the claim. (subject to terms and conditions on the policy per the policy wording)
  • Listed Events - Fire, storm, earthquake etc...
  • Theft by tenants
  • Professions fees
  • Pet Damage
  • Exploratory costs
  • Locks & Keys
  • Landscaping
  • Rainwater tanks
  • Solar Panels
  • Mortgage discharge costs
  • Fumigation costs

Protection of rental income due to (but not limited to):

  • Rent Default
  • Absconding Tenant
  • Tenant failure to vacate premises
  • Death of Tenant
  • Tenant Hardship
  • Property unable to be leased following damage
  • Prevention of access
  • Associated legal fees

Protection for the property contents (owned by the Landlord) including but no limited to items such as, fixtures and fittings, appliances, blinds, carpets, floor coverings, floating floor boards, fittings, Pools, Spas, household furniture, furnishings and light fittings, where loss or damage occurs due to (but not limited to) :

  • Tenant Damage
  • Malicious Damage
  • Full Accidental Damage
  • Flood
  • Perils (Fire, Storm, wind, earthquakes, etc...)
  • Escape of Liquid
  • Burst Pipes
  • Theft, Break in or vandalism
  • Pet Damage
  • Scorching or burning
  • Impact
  • Glass Breakage
  • Electronic Motor Burnout or fusion
  • Lightning
  • Power Surge

Where the property is a Strata Property or Unit and there is a current Building Insurance policy in place, the LandLord protection policy will look to pick up any gaps in cover for losses not automatically addressed under the existing Building Insurance Policy

Cover for legal liability following third party injury or third party property damage to the full policy limit of $20 million each and every occurrence.