Landlord insurance

Landlord insurance is property insurance designed for rental properties, covering risks that a standard owner-occupier house policy typically excludes.

What it usually adds

• Malicious or intentional damage by tenants, generally excluded from standard policies
• Loss of rent following an insured event that makes the property uninhabitable
• Landlord's contents — carpets, curtains, appliances
• Liability cover relating to the rental activity
• Sometimes limited cover for rent arrears or tenant departure, though this varies significantly

Sum insured is your responsibility

New Zealand house insurance is almost entirely sum insured rather than full replacement. You nominate the rebuild figure, and the insurer pays no more than that, regardless of actual rebuild cost.

Construction costs have risen substantially in recent years and many policies carry figures set years ago. Review the sum insured at every renewal. Underinsurance is one of the most common and most damaging mistakes property owners make, and it only becomes apparent after a loss.

What is commonly excluded

Gradual damage, wear and tear, some methamphetamine contamination beyond a limit, damage during a period the property was untenanted beyond a stated number of days, and losses where the landlord did not meet legal obligations.

Common misunderstanding

Cover for tenant damage is often subject to conditions — regular documented inspections, a written tenancy agreement, a lodged bond, and prompt notification. Failing to do routine inspections can void the very cover you are paying for.

Notify your insurer that the property is tenanted. A standard house policy on a rented property may not respond at all.

A body corporate policy covers the building, not your chattels or lost rent. Unit title investors still need their own cover.

Related terms

Last reviewed: 1 August 2026 · General information only, not insurance advice.

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