What landlord insurance covers in Australia is protection for investment property rented to tenants, covering building, contents, loss of rent, tenant damage and liability, with premiums $300 to $600 per year plus building insurance $1,200 to $1,800. Landlord insurance typically covers building $500K to $1M for fire, storm, flood, theft and vandalism, similar to home building, but includes landlord specific. It covers contents $20K to $50K for furniture, appliances and carpets provided by landlord, with theft and damage. It covers loss of rent if tenant defaults, up to 12 months $10K to $20K, with rent default cover if tenant stops paying, and loss of rent if property uninhabitable due to insured event like fire, paying rent $500 per week for 12 months $26K. It covers theft and malicious damage by tenant $50K, covering intentional damage like holes in walls and broken windows. It covers accidental damage by tenant optional extra $100 per year. It covers public liability $20M if tenant or visitor injured on property, with claims $100K to $500K. It covers legal expenses $5K for eviction. So landlord insurance covers building, landlord contents, loss of rent 12 months, tenant theft and damage $50K and liability $20M, with providers like Terri Scheer, EBM, AAMI covering these for $300 to $600 per year, essential for investors to avoid $20K to $50K loss from tenant damage and rent default.
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