Broker-arranged
Insurance for landlords and property investors
Insurance for property investors with one rental or several: landlord cover for the building, contents and rent, what strata covers if you own a unit, and what the ATO checks at tax time. A licensed broker arranges it.
- Houses, units and commercial property
- One short form, then a licensed broker takes it from there
What insurance does a landlord need?
Most residential landlords hold landlord insurance, which combines building or contents cover with loss of rent and legal liability. If you own a strata unit, the owners corporation insures the building, so your policy focuses on contents, rent and liability. Commercial landlords are arranged by a broker too.
Who insures what in a strata scheme
| State | What the owners corporation must insure |
|---|---|
| NSW | The building, and public liability of at least $20 million. |
| Victoria | Reinstatement and replacement cover for buildings on common property, and public liability of at least $20 million, except two-lot subdivisions. |
| Queensland | Common property, body corporate assets, public risk of at least $10 million, and in most cases every building containing a lot. |
See landlord insurance for what a policy covers, and strata insurance for owners corporations.
What the ATO sees
The ATO lists building, contents, public liability and loss of rent insurance among rental expenses you can claim. It also runs a landlord insurance data-matching program that collects premiums and claim payouts from insurers, and reminds landlords that insurance payouts for an investment property must be reported as income.
How to get landlord cover through us
Landlord insurance questions
Do I need landlord insurance for a strata unit?
The owners corporation insures the building, so a unit owner’s policy focuses on contents, loss of rent and liability.
Is landlord insurance tax deductible?
The ATO lists building, contents, public liability and loss of rent insurance as rental expenses you can claim.
Do I have to declare insurance payouts?
Yes. The ATO says insurance payouts for an investment property must be reported as income.
Can I insure several rentals together?
Ask the broker. Some insurers offer cover for multiple properties.
Are commercial landlords covered?
Yes, through a licensed broker. Commercial property cover differs from residential landlord insurance.
Keep reading
More industries arranged by a broker
Sources
Landlords