Broker-arranged
Landlord insurance in Victoria
Cover for a rental property in Victoria: the building or your contents, lost rent, tenant damage and liability, and the Victorian rental rules that shape what you need. A licensed broker arranges it.
- Houses, units and townhouses
- Victorian bond, rent and pet rules explained
- One short form, then a licensed broker takes it from there
What does landlord insurance cover in Victoria?
Landlord insurance is cover for a property you rent out. In Victoria it sits alongside the bond, which in most cases can’t be more than one month’s rent and is held by the Residential Tenancies Bond Authority (RTBA). The bond covers smaller amounts a renter owes at the end of a tenancy. Landlord insurance is for bigger losses: damage to the building or your contents, rent lost after an insured event, tenant damage, and claims from renters or visitors.
Standard home insurance is written for a home you live in, so check whether yours covers a tenanted property before relying on it.
Victorian rental rules that affect your cover
| Rule | What it means for a rental provider |
|---|---|
| Bond | In most cases no more than one month’s rent. A higher bond is allowed only if the weekly rent is more than $900 or VCAT has set one. Lodge it with the RTBA within 14 days, not counting public holidays. |
| Rent increases | For agreements that started on or after 19 June 2019, rent can’t be increased more than once every 12 months, with at least 90 days’ notice. |
| Pets | Renters can ask to keep a pet. You must have a good reason to refuse, and apply to VCAT within 14 days. If you don’t respond in 14 days, the renter may keep the pet. |
| Owners corporation | For a unit, the owners corporation insures the building and common property and holds public liability of at least $20 million. |
With the bond capped at a month’s rent and pets harder to refuse, check what a policy says about tenant damage and pet damage before you choose.
What Victorian landlord policies usually cover
Every policy differs, so the PDS is the final word. These are the common inclusions and gaps.
Often covered
- The building. Fire, storm, water damage and other insured events, if you own the building.
- Your contents. Carpets, curtains, blinds and appliances you supply.
- Loss of rent. Rent while the property can’t be lived in after an insured event.
- Malicious damage by tenants. Deliberate damage, in many policies.
- Legal liability. A tenant or visitor is injured at the property and you’re liable.
Often not covered
- Accidental damage by tenants. Some policies exclude it, or offer it as an option.
- Wear and tear. Gradual deterioration and maintenance.
- Rent default, unless you add it. Conditions apply.
- The tenant’s own belongings. Tenants need their own contents cover.
Getting the sum insured right
Insure the building for what it would cost to rebuild. Moneysmart warns about the risk of underinsurance. For loss of rent, think about how long a rebuild would really take after a fire or storm, and check how many months a policy pays.
How to get Victorian landlord insurance through us
Landlord insurance in Victoria: questions
Does the bond replace landlord insurance?
No. In Victoria the bond is usually capped at one month’s rent and covers what a renter owes at the end of a tenancy. Fire damage or months without rent after an insured event need insurance.
Can I refuse a pet in Victoria?
Only with a good reason, and only by applying to VCAT within 14 days of the request. If you don’t respond within 14 days, the renter may keep the pet.
How often can I increase the rent in Victoria?
For agreements that started on or after 19 June 2019, no more than once every 12 months, with at least 90 days’ notice.
Do I need landlord insurance for a unit in Victoria?
The owners corporation insures the building and common property, so your policy focuses on your contents, loss of rent and liability.
Why is landlord insurance arranged by a broker?
Landlord policies vary widely in tenant damage, rent default and strata cover, so a licensed broker reviews your property and arranges suitable quotes.
Is landlord insurance tax deductible in Victoria?
The ATO lists insurance among the expenses a landlord can generally claim for a rental property, in the year the premium is paid. Keep the policy schedule and receipt with your rental records, and check with your accountant for your own position.
Is landlord insurance more expensive than home insurance?
Often, because it adds covers a home policy doesn’t have: loss of rent, tenant damage and rent default. The building component is rated the same way. A broker can quote building, contents and the landlord options separately so you can see what each adds.
Keep reading
More by state
Sources
- Consumer Affairs Victoria: Bond amounts and payments
- Consumer Affairs Victoria: Rent increases
- Consumer Affairs Victoria: Pets in rental properties
- Consumer Affairs Victoria: Owners corporation insurance
- Allianz Australia: Landlord insurance
- Allianz Australia: Rent default cover
- Moneysmart: Home underinsurance
- ATO: Rental properties 2025, rental expenses
Landlord insurance Victoria