Tenant Contents Insurance

When Mother Nature flexes her muscles, a thief takes your belongings or something goes horribly wrong, not having contents insurance can have disastrous consequences for your property, stress levels and bank account.

During a recent downpour in Melbourne’s northern suburbs, one of our renters returned home to find their home flooded. Books, a television, furniture and other household items were irreparably damaged. Their fully stocked fridge, which was ready for Christmas, was without power for 12 hours, causing the food to spoil.

If they had contents insurance, their belongings and food would have been replaced, downgrading the catastrophe to a mere speedbump. Because they lacked coverage, they were forced to replace the items out of their own pocket, making it an extremely costly and stressful experience.

Some policies also cover accidental damage, temporary lodging, lock replacement and storm and rainwater damage.

One of the most common mistakes renters make is assuming that their personal belongings are covered by the landlord’s insurance. Don’t be caught off guard, your belongings are your responsibility.