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Guide to building insurance for landlords


If you’re a landlord, your rental property represents a pretty sizeable investment. If something unexpected happens to that property and leaves it unable to be rented out, it’s not just the cost of repairs that you’ll be on the hook for—you could be facing weeks, if not months, of lost rental income. That’s why protecting you, and your property, with the right level of landlord insurance cover is important.

What’s covered by landlord insurance?

With AAMI Landlord Insurance, damage to or loss of your property’s buildings—that’s the house itself along with permanent structures like garages and carports—will be covered after weather events like floods, storms, lightning, and so on.

You’ll also be covered for unfortunate events like break-ins, so, if you’re worried about unwelcome visitors, AAMI Landlord Insurance could be right for you.

For more detail on what’s covered, check out the Product Disclosure Statement (PDS). It’s not the most riveting reading, but there’s a lot of handy info in there.

Video: 5 Landlord Insurance questions answered (+ Victorian rental laws)

Do I need contents insurance too?

You can just insure the building and this may cover you for the most expensive and potentially catastrophic events. After all, most of the stuff inside the house probably belongs to your tenants, and they can sort out their own Contents Insurance.

However, you may be renting out a property furnished with things that belong to you, not your tenants, so they won’t be covered by their Contents Insurance. This could include carpets, rugs, blinds, furniture, appliances and artwork. If this is the case, you’ll want to give some serious thought to Landlord Contents Insurance.

Of course, Landlord Building Insurance and Contents Insurance can be bundled together to give you the highest level of cover.

Explore AAMI Landlord Building & Contents Insurance

What about damage caused by my tenants?

No landlord wants to deal with tenants who intentionally cause damage to the property, or steal items belonging to the landlord. That's why you should consider Tenant Protection, available as an optional extra you pay extra for with Building Insurance. Tenant Protection may also cover you for lost rent caused by tenants failing to pay. 

For more info, please refer to the PDS or contact us for more info.

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Insurance is issued by AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI) trading as AAMI. Please read the relevant Product Disclosure Statement before you make any decision regarding this product. The Target Market Determination is also available.

Any advice has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it.