Does your landlord insurance still match the property?
Protect the asset and your financial position.
Best for: Owners whose policy has renewed automatically for years
Most insurance conversations focus on being under-covered. Being over-insured is a quieter, ongoing cost leak that rarely gets checked once a policy is set up.
Why this matters
A policy set up years ago, or copied from a previous property, can include cover levels that no longer match reality, such as full contents cover on an unfurnished rental. That gap is pure premium cost with no corresponding benefit.
What to check
- What contents, fixtures, or cover levels the policy actually assumes
- Whether the property is furnished, unfurnished, or partly furnished, and whether the policy matches
- Sum insured versus actual rebuild cost (the other direction can also be wrong)
- Any riders or add-ons from a previous era of ownership that no longer apply
Who can help
Insurance broker or insurer
A review of the policy against the property's actual condition today.
TAKE ACTION · QUESTIONS TO ASK
One phone call or email to your broker
Copy questions
Copy this question and put it to your broker or insurer.
USE AI TO HELP
Use AI to compare your policy against the property's actual state before you call your broker.
Best prompt for this issue
Review my landlord insurance details against the property information I provide. Summarise what's covered, the insured values and excesses, and identify where the cover may no longer match the property — in either direction. Give me the questions to ask my insurance broker. Do not recommend reducing cover.
Quick modes
WHAT TO PROVIDE
- current policy schedule or renewal notice
- property details and recent changes
- current rebuild cost estimate if you have one
ASK AI TO GIVE YOU
- a short summary of the situation
- the main issue
- missing information
- risks to investigate
- questions to ask
- the next three actions
Privacy: do not paste passwords, tax file numbers, bank account details or other sensitive personal information into an AI tool. If a document contains personal details it doesn't need, redact them before uploading.
What happens next
Adjusting cover to match the property's actual state is usually a same-day change with the insurer, with an immediate premium impact from the next billing cycle.
Important considerations
- This is a two-way check — don't strip cover to save premium without confirming what's genuinely still needed.
- This is general information, not personal financial or legal advice. Confirm specifics with your own adviser before acting.
THE HOLD QUESTION
Are you paying to insure a property that doesn't exist anymore?
NOT SURE WHAT TO ASK AI?
Ask a Better Property Question
Most people don't need more AI — they need to ask AI better questions. Type your question (or skip it) and copy a prompt that makes any AI tool ask you the right things first.
I am trying to understand this property issue. Before answering, identify any important information that is missing. Ask me only the questions that materially affect the answer. Once I respond, explain the issue in plain English, separate facts from assumptions, identify the main risks and give me the next three actions. Flag anything that should be confirmed with a qualified professional.
Privacy: do not paste passwords, tax file numbers, bank account details or other sensitive personal information into an AI tool. If a document contains personal details it doesn't need, redact them before uploading. This is a way to prepare — not financial, tax or legal advice.
Not sure what else to review?
Run the Annual HOLD CheckRelated HOLD Tips
The Kilroy Brief
Independent commentary on Australian housing, property, construction, taxation and investment, delivered directly to your inbox.