Borrowers guide to Landlord insurance
Building insurance may be a condition of your new investment home loan (unless you’re purchasing a strata property or vacant land). Here’s how to get cover for your property from the day you need it.
Why insure through Westpac?
One less step
Sort out your insurance and banking together.
Flexible payment options
No extra cost to pay by the month so you can better manage your budget.1
All in one place
See your insurance policies next to your bank accounts in the App.2
Comprehensive cover
Insure your investment property for storm damage, floods and bushfires.3
Cover options explained
Landlord Building Insurance
Landlord Building Insurance covers your investment property’s physical structures, fixtures and built-in appliances like hot water systems and air-conditioners. It may be a condition of your investment home loan, unless you’re purchasing a strata property or vacant land.
Landlord Contents Insurance
You can also cover items that you have provided for your tenant like furniture, carpet, appliances – and even the BBQ with Landlord Contents Insurance.
Award winning value
Westpac has been recognised with the 2025 Canstar Outstanding Value Landlord Insurance award.
3 important questions about landlord insurance for borrowers
How do I get insurance?
Our helpful guides take the guesswork out of discovering what insurance, and how much cover, you may need.
I have insurance, what happens next?
Before your loan can settle, you may need to provide a copy of your building insurance certificate, unless you’re covered by strata or buying vacant land. You can either upload it to online banking or send a copy to your lender. The final steps of the loan application process are:
- Sign your loan documents
- Provide any outstanding information
- Settle and get the keys!
How much cover do I need?
Use the calculators as a guide4 to help understand how much insurance cover you might need to rebuild your investment property or replace the contents you’ve provided for your tenant in the event of a flood, fire, storm, or natural disaster.
Things you should know
1Pay by instalment at no additional cost compared with paying annually. Instalments may be subject to minor adjustments due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
2Policyholders need to ensure their personal details on their policy match with their Westpac accounts. Only primary policyholders can see policies alongside their other Westpac accounts.
3Allianz may not provide cover for any loss of or damage to your property caused by cyclone, flood, grassfires and bushfires during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. Refer to PDS for when exclusion periods apply.
4The Building and Contents calculators provided by Allianz through a third-party provider, are intended as a guide only. For a more accurate cost to rebuild your home or replace your contents, consider obtaining a professional valuation from a licensed builder or professional valuer.
Any financial product advice provided on this page is general in nature and does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement (PDS), supplementary PDS (if applicable) and Target Market Determination (TMD). To see some of the events covered and not covered, please refer to the Key Facts Sheet (KFS).
Landlord Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) arranges the initial issue of the insurance under a distribution agreement with Allianz but does not guarantee the insurance.
By selecting 'Get a quote' you will enter a third-party site hosted by Allianz. Any personal information you provide to Allianz will be collected, used and disclosed in accordance with Allianz's Privacy Statement and Privacy Policy available on their website.
If you purchase Landlord Insurance with Allianz the Bank will receive a commission of up to 12% of the premium excluding Government fees and charges, plus GST.
Westpac's Privacy Statement is available at westpac.com.au/privacy/privacy-statement or by calling 132 032 8am - 8pm Sydney time, 7 days. It covers:
- How you can access the personal information Westpac holds about you and ask for it to be corrected;
- How you can complain about a breach of the Privacy Act 1988 (Cth) or a registered Code by Westpac and how Westpac will deal with your complaint; and
- How Westpac collect, hold, use and disclose your personal information in more detail.