When comparing landlord insurance in Melbourne, check whether the policy covers building damage, landlord contents, loss of rent and tenant-related risks such as malicious damage or theft. Policies can differ on cover for water damage, legal liability, vacant properties, short-term rentals and heritage or older homes, so read the Product Disclosure Statement (PDS) carefully. Premiums and excesses may depend on the property’s location, construction, security, rental type and claims history. Consider speaking with a licensed insurance adviser or comparing insurers directly to confirm which policy suits your circumstances.