As a renter, you’re liable for contents that you own and the landlord doesn’t, i.e. all personal belongings you bring into your rental accommodation.
This means you will need renters insurance covering your valuable possessions should anything happen to them. These may include:
- Personal effects – e.g. your smartphone/tablet, handbag, camera or bicycle
- Furniture items – lounge, armchairs, wardrobe, bed, the lot
- Hi-fi equipment, e.g. TVs, home theatres, stereo systems
- Sporting equipment, e.g. home gym or treadmill
- Bulky old-school gaming items, e.g. pool table, table tennis, foosball
- Musical instruments such as guitars, drums or keyboards
- Your prized sports memorabilia (including framed posters)
- Your family heirloom.
Given today’s climate of steep housing prices, more Australians than ever live in rental accommodation and regularly move houses, taking their belongings with them. In 2016, 21% of Australia’s population were renting.
The scary truth is, nearly an entire generation of Australians is exposed to financial losses by the absence of contents insurance. With twice as many Aussies renting these days compared with 1981’s stats, nearly three-quarters of all renters do not insure for contents.
This is why you should give your belongings an additional safety layer by choosing a contents cover that suits your lifestyle. At comparethemarket.com.au, we’ve got your back.