Home insurance and landlord insurance – what’s the difference?

When you become a property owner, you take on a lot of responsibility, from home loan payments to property maintenance, to ensuring it’s protected in the right way.

Whether you live in the property or rent it out will determine whether you take out home insurance or landlord insurance. Each covers different things, so it’s good to understand them both.

Who is home insurance for and what does it cover?

If you own a property and live in it, home insurance is important. It can cover the cost of replacing or repairing your building, your contents, or both, if something unforeseen happens.

QBE home insurance also includes legal liability for up to $30 million.¹ This is important, because if you don’t have home buildings cover, and an incident takes place on your property that leads to a person’s injury or death, you could be held liable for things like legal costs or compensation.

QBE home insurance has three options – buildings and contents cover, buildings only cover, or contents only cover.²

QBE Home Insurance for homeowners

Buildings only cover insures the buildings and structures permanently affixed at the property address for a range of insured events, including fire and theft, storm, rain, hail, and flood. Plus damage caused by the escape of liquid, vandalism or malicious acts, damage by animals and damage from falling trees.³

It also includes temporary accommodation costs if your home is unliveable due to damage from an insured event.⁴ It covers re-keying or replacing your external door and window locks up to $2,500, if your keys have been stolen in Australia and the theft has been reported to the police.⁵

QBE Contents Insurance for homeowners

Contents-only insurance provides cover for your home’s contents against a range of events, including fire and theft, storm, rain, hail, flood, damage caused by escape of liquid, vandalism and malicious acts, damage by animals and damage from falling trees.

It also includes up to $500 for buying and installing additional security measures after a burglary. And re-keying or replacing of external door and window locks up to $2,500, if your keys have been stolen in Australia and the theft has been reported to the police.

You’re also covered for food spoilage up to $500, plus carpets, curtains and internal blinds. If you’re moving within Australia, your contents are covered for up to 60 days in your current and new home.⁶

Related article: Why maintenance is key when it comes to home and contents insurance

Home and contents insurance for homeowners

Buildings and contents cover combines everything listed above – for both the property you live in, and the contents within that property.

Who needs landlord insurance and what does it cover?

If you own a property that you rent out, it’s worth considering landlord insurance. Like home insurance, it can cover the building and contents, but it also protects you from other risks that are specific to renting out your property.

This could include damage caused by tenants, loss of rental income if your property is unliveable due to damage by an insured event, and legal costs for tenant disputes.⁷ QBE Landlord Insurance also offers optional cover if tenants stop paying rent.

Within landlord insurance, you can choose to cover the building only, contents only, or the building and contents together.

Related article: Landlord insurance for rental properties

Buildings only cover in QBE Landlord Insurance

This covers permanent structures attached to your property address, and up to $30 million legal liability.⁸ You’re also covered for loss of rent, if the property is unliveable due to an insured event, and accidental damage cover is included as standard.⁹

QBE Landlord Insurance also includes cover for up to $35,000 in chemical decontamination costs (as a result of illegal or controlled-drug manufacturing, distribution or storage by your tenants).¹⁰ Plus, up to $4,000 cover for damage caused by a tenant’s pets.¹¹

Contents only cover in QBE Landlord Insurance

This cover is useful if, for example, you’re renting out a strata property. With QBE, it includes the same limits for chemical decontamination and damage by tenants’ pets. It can also cover any items the body corporation is not legally required to cover, such as built in kitchen and bathroom cupboards and carpets.

QBE contents-only landlord insurance also includes $30 million legal liability and covers loss of rent if your property is unliveable due to damage by an insured event, which both only apply if you owned a property in a strata building.¹²

Buildings and contents landlord insurance

This insurance covers the physical property and the contents a landlord owns, in use by a tenant.

Is it compulsory to have landlord insurance?

While landlord insurance is not compulsory, mortgage lenders may require you to have it as a condition of your mortgage.¹³

Contents only insurance for renters and strata

If you live in a strata building that’s already covered by a communal strata policy, you may choose standalone contents insurance.

Having contents insurance means that if your belongings are damaged or destroyed by an event like a fire, flood, or theft, your insurer could pay to repair or replace them. With that in mind, it’s important to choose how much cover you’d need to replace your contents. The contents insurance calculator can help you estimate the cover you need.

As a tenant, do I need home insurance?

If you’re a tenant in a rental property, you may want to protect your possessions with contents insurance. Your landlord is usually responsible for insuring the building.¹⁴

If you have any questions about whether you need landlord or home insurance, call QBE on 133 723.

At QBE, we're at the heart of providing protection for Australian homes. And with the Top Rated Landlord Insurance for 2026 award from Product Review under out belt, now's the time to apply.

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Learn about QBE home insurance and landlord insurance

¹ Home and contents insurance | Get a quote | QBE AU
² Home and contents insurance | Get a quote | QBE AU
³ Home and contents insurance | Get a quote | QBE AU
⁴ Home and contents insurance | Get a quote | QBE AU
⁵ Home and contents insurance | Get a quote | QBE AU
⁶ Home and contents insurance | Get a quote | QBE AU
⁷ Home and contents insurance | Get a quote | QBE AU
⁸ Landlord Insurance | Landlord insurance quotes | QBE AU
⁹ Landlord Insurance | Landlord insurance quotes | QBE AU
¹⁰ Landlord Insurance | Landlord insurance quotes | QBE AU
¹¹ Landlord Insurance | Landlord insurance quotes | QBE AU
¹² Landlord Insurance | Landlord insurance quotes | QBE AU
¹³ Landlord insurance for rental properties | QBE AU
¹⁴ Landlord responsibilities for repair and maintenance of rental properties | NSW Government