Budget Direct Landlord Insurance

Budget Direct is a provider of landlord insurance as well as car, home, life and health insurance.

Landlord insurance caters to the needs of landlords, providing a home insurance product specifically designed to provide property owners with protection against the financial loss that may result from owning a rental property.  

Compare Budget Direct landlord insurance 

The table below displays a snapshot of Budget Direct landlord insurance policies on Canstar’s database. Please note the products and Star Ratings displayed are based on a house in NSW.  


What landlord insurance policies does Budget Direct offer?  

Budget Direct has two separate landlord insurance policies – one for building insurance and one for contents insurance. Budget Direct’s landlord building insurance covers you for the cost of repairing or replacing your rental property, while landlord contents insurance covers your carpets, curtains, furniture and whitegoods against loss or damage.  

Budget Direct FAQs

Budget Direct’s landlord building insurance policy may protect you from a loss of rental income if your investment property is uninhabitable due to damage from an insured event (see the product disclosure statement (PDS) for more information on these insured events).  

If your claim is successful, Budget Direct will cover you for the lesser of the following: 

  • 10% of your sum total insured  
  • 12 months’ worth of rent   

Exclusions may apply when making a claim for a loss of rental income. For a detailed look at the various exclusions and what can cause them, see Budget Direct’s PDS.  

See this article for a quick guide to what landlord insurance is and what it may cover you for.  


Budget Direct’s landlord building insurance policy may provide you with cover should damage be caused to your rental property by tenants or their guests. According to Budget Direct it may cover:  

  • The cost to repair or replace your rental property due to a storm, rainwater, fires, lightning, explosions and more (up to your sum insured 
  • The removal of debris and extra rebuilding costs (up to 10% of your sum insured 
  • Loss or damage to your property’s fixed floor coverings and external window coverings (up to 5% of your sum insured) 

See the PDS for more information on possible exclusions.  


Landlord insurance can also protect property owners from damage which may occur to the contents they own in their rental property.  

Budget Direct’s landlord contents insurance policy can offer the following cover for contents in your rental property:   

  • The cost of repairing or replacing lost or damaged contents you provide for your tenants due to storms, rainwater, fires etc. (up to your sum insured)  
  • Loss of or damage to your property’s carpets, light fittings and internal window coverings (up to 5% of your sum insured) 
  • The replacement of locks or PIN codes if the either are stolen or compromised (up to $500 
  • Extra rebuilding costs, including storage of your undamaged contents during the time it takes to repair your property (up to 10% of your sum insured 

See the PDS for more information on possible exclusions.  

Related Article: Should You Hire A Property Manager?

In insurance terms, a ‘defined event’ (also known as a ‘listed’ or ‘insured’ event) on a policy is a damage-causing event which you’re insured for under that policy.  

Under Budget Direct’s home & contents insurance PDS, the following are classified as insured events:  

  • Fires 
  • Explosions  
  • Theft or attempted theft 
  • Malicious damage, vandalism, riots and civil commotion  
  • Storms and rainwater  
  • Lightning  
  • Earthquakes 
  • The sudden escape of liquid  
  • Impact on the home caused by cars, falling objects, trees and animals 

To see a list of exclusions that may apply to each of these insured events, see the PDS.  


Flood damage can be treated as different to storm damage by certain insurers, and as a result you may not be automatically covered for it.  

Budget Direct’s landlord insurance policies do offer cover for flood damage, which is defined, according to Budget Direct, as ‘the covering of normally dry land by water that has escaped or been released from the normal confines of any of the following’: 

  • Lakes 
  • Rivers 
  • Creeks 
  • Reservoirs, dams and canals  

Please see the PDS for information about exclusions and conditions that may apply. For example, your building or contents will not be covered by Budget Direct if there is damage to retaining walls or fences and gates that have not been well maintained.  

Please note that flood cover is listed by Budget Direct as an optional benefit (see below)  

Landlord insurance policies may also offer additional benefits that can be added to suit your unique needs as a landlord for an extra fee.. Some of the additional benefits you may be able to add to your Budget Direct landlord insurance policies include: 

  • Cover for tenant default (failing to pay their rent or leaving)  
  • Theft and malicious damage caused by tenants  
  • Flood cover (see above)  
  • Sum insured safeguard, which increases your sum insured by up to 25%. 

You can add these optional benefits to your policy when you get a quote, and they will generally result in higher premiums.  

Yes, Budget Direct also offers home insurance in addition to landlord insurance. 

By signing up for both home and landlord insurance under Budget Direct you can also be eligible to receive a 15% multi-policy discount on your premium.  

See the difference between home and landlord insurance here. 

You can purchase a Budget Direct landlord insurance policy by comparing your options with Canstar and generating a quote online. According to Budget Direct this can take as little as four minutes and will require you to enter some personal details as well as information about your house.  

To make a claim with Budget Direct, visit its claims page 

Budget Direct has insured over 1.5 million Aussies since it was founded in 2000. It is part of the International Budget Insurance group. 

If you’re with Budget Direct, sign up for the Budget Direct Hail Hero App on the Apple iTunes Store or Google Play for Android so you’ll have enough warning to protect your home before a hailstorm hits. 

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Written by: William Jolly | Last updated: March 19, 2018