Get a property insurance quote today

Property insurance provides financial protection for landlords and property investors against risks to property, such as fire, theft and weather damage. It covers the building itself, any permanent installations, as well as contents inside the property. This insurance helps landlords manage the cost of repairs or replacements, ensuring financial stability in the event of unexpected damage.

Rental property insurance typically covers damage to the building caused by events like fire, storm or vandalism. It also offers liability protection if someone is injured on the property, and may include loss of rental income if the property becomes uninhabitable due to a covered peril. Additional coverage can often be added for specific needs, such as flood damage or emergency repairs.

Insurance for rental property can vary in cost, as it depends on the type of coverage you require for your property and the excess you choose. Investment property insurance also depends on factors such as the property’s value and location. The easiest way to get an idea of how much you could be paying for your property is to obtain a quote from Property Insurance Plus. Simply fill out an online enquiry form or give us a call at 1300 307 072.

To meet the needs of property investors and landlords, Property Insurance Plus offers three coverage options: Landlord Insurance, Building Insurance and Holiday Property Insurance. 

Landlord insurance is designed to protect residential property investors, covering financial hardships and various types of tenant defaults, such as departure without notice and court-ordered terminations. 

Building insurance covers the physical structure of your property, including damage from natural disasters like earthquakes and storms and other risks such as fire and theft. Holiday property insurance is available for properties rented out on platforms like Airbnb, where it covers rental income loss due to defined events, damages and legal liabilities.

The amount of property insurance coverage you need should match the replacement cost of your property and its contents. This includes the full cost of rebuilding your home or property at current market prices and replacing its contents without depreciation. 

If you are unsure of the amount of coverage you need for your property, visit our FAQs page, or contact our team at Property Insurance Plus. Get in touch, and we can accurately assess your property’s value and provide advice about what level of coverage you need.

Common exclusions in insurance for rental properties typically include damage from floods, earthquakes and normal wear and tear. Other frequent exclusions are intentional damage, war or nuclear hazards and damage from pests like termites. Policies might also exclude specific high-value items unless they are individually listed.

Replacement cost coverage reimburses you the amount it would take to replace damaged property with new materials at current prices without considering depreciation. Actual cash value (ACV) coverage, on the other hand, factors in depreciation, paying you what the item was worth at the time of loss, not what it would cost to replace it.

Yes, if you have high-value items and wish to have them insured separately, you will need to individually list them on your policy. Having extra coverage for these items specifically insures these valuable items for their appraised value, providing broader protection against loss or damage.