When you compare landlord insurance, check whether each policy covers the building, landlord-owned contents, tenant-related damage, loss of rent and legal liability. Compare limits, excesses, waiting periods and exclusions, including requirements for inspections, property management and tenant screening. A cheaper premium may provide less protection, so read the Product Disclosure Statement (PDS) and compare like-for-like cover. The insurer will decide whether a claim is covered based on the policy terms and your circumstances.