Landlords Insurance
Cover for your investment property, its contents and rent default all under one roof.
Protect your investment property and landlord contents
Landlords Insurance covers your investment property for the essentials, and helps you mitigate your financial risk including cover for rent default and accidental damage by tenants.
Summary of benefits
Highlights of our building and contents cover
Flood, fire or storm
If your property is destroyed by storm, fire or flood, we’ll cover reconstruction and replace your eligible contents up to the sum insured.
Accidental damage by tenant
If your tenant accidentally damages your property, get help with repair costs of up to 15% of your sum insured.
Loss of rent
When tenants have to evacuate as a result of an insured event, get net rental income for up to 12 months, up to a total of 10% of the sum insured.
Theft or vandalism by tenant
Cover for loss or malicious damage to your property and contents for up to 15% of your sum insured.
Fixtures and fittings
Cover for loss or damage to floor coverings, blinds and curtains for up to 5% of your building sum insured or up to the contents sum insured.
New for old
Cover for the replacement of eligible contents at the item’s value today, not its depreciated value.
Demolition and removal of debris
On top of your sum insured, we’ll help with the costs of demolition and design fees.
Rent default
When your tenant is in default, we pay the net rental income up to $5,000 after bond entitlement.
Water damage
If your property and things are damaged by water, we’ll cover clean up and repair costs.
Claims, anytime anywhere
Some claims can’t wait. Make a claim online anytime and our claims team will be ready to support you.
Frequently asked questions
What is landlords insurance and why is it important?
Landlords insurance can cover both the building and the contents of your investment property in the case that they need repair, rebuilding, or replacement after an insured event. This includes protection from unpredictable weather and the impacts of cyclones, floods, storms, and bushfires.
Landlords insurance can also protect you against things like theft or damage by a tenant, lost rent, and legal liability
What’s the difference between landlords and homeowners insurance?
Landlords insurance provides protection for an investment property you are renting out and not living in, whilst homeowners insurance is for your primary residence.
Homeowners insurance covers the home and contents of the house you permanently live in, the contents in your house, and your legal liability related to the investment property.
It does not cover the risks that come with having a tenant living at your investment property, such as tenant damage and rent default, making landlords insurance relevant to cover any investment property that you permanently rent out.
I already have home insurance, do I need landlords insurance too?
Landlords insurance should not be used to cover your primary residence, however, if you have an investment property, Virgin Money Landlords Insurance could be an option.
Landlords insurance can protect your investment property from the risks that come with having a tenant living at your investment property. Additionally, if you’ve borrowed money to buy your investment property, your financial institution may require you to take out insurance on it
Am I covered if my tenant defaults on their rent payments or for other forms of loss of rent?
Am I covered if my investment property becomes unoccupied?
Your investment property will continue to be covered under a Virgin Money Insurance Landlords policy against insured events even if it becomes unoccupied. You may be required to pay an additional excess if something happens, but you can rest easy knowing the investment property is covered.
We consider your investment property unoccupied if no one has been living in it for more than 60 consecutive days or if someone stays there on average for less than one night a week during the 60 day period.
Useful links
Important information
The Virgin Money Insurance suite of products is distributed by Honey Insurance Pty Ltd ABN 52 643 672 628, AFSL 528 244 and issued by RACQ Insurance Limited ABN 50 009 704 152, AFSL 233 082. Conditions, limits and exclusions apply.
Virgin Money Australia is a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616 (Virgin Money). Virgin Money and its related bodies corporate do not guarantee or otherwise support the issuers of the insurance, nor the insurance products.
Any advice is general advice only and does not take into account your personal objectives, financial situation or needs and may not be right for you. You should read the relevant PDS, any applicable SPDS and TMD available at insurance.virginmoney.com.au/documents before making any decision.
If you purchase a general insurance product, Virgin Money is paid a commission which is a percentage of your premium. Details are provided in the Virgin Money Financial Services Guide by clicking here.
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