What Is Renters Insurance And What Does It Cover?

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What Is Renters Insurance And What Does It Cover?

Mar 11, 2020

You might not have your own home, but you always have a few things that are very close to you. To protect them, you will take every necessary step. Renters insurance is one such step that is highly recommended by the experts. This ensures you can replace all your valued possessions if any unfortunate incident occurs. What if the contents of your property – like electronics, furniture, and clothing – were stolen or damaged? Suitable insurance will protect your belongings. Thus, it is always important to insured your belongings before hiring removalists in Sydney.

In many cases, the Renters Insurance is also referred to as “contents-only” Insurance. You should not mix it up with the insurance of the landlord. The owner of the property pays the insurance for the building only. It means renters insurance protect your belongings like sporting gear, electronics, jewellery and other things that are not nailed down.

Type of Insurance Available For Renters

There are several types of content insurances that are available in the market. The renters in Australia can choose one of them as per their specific requirements. Have a look:

Renters Insurance: This one protects your belongings from a wide range of events while they are in the home like fire, storm, theft, flood, vandalism, burst water pipes, and other similar situations.

Insurance for high-value items: This is an optional choice that allows you to protect your expensive belongings like artwork and jewellery. Any item that is more than specific value needs this extra protection.

Insurance for Portable items: This is also an optional choice, which protects those items that you take outside of your home like smartphones and watches. This option also protects them while they are at home.

Accidental damage Insurance: This is also an optional choice that protects your items from accidents like if your kids break a vase while playing.

What Items Does Renters Insurance Covers

You can protect all the items that are not fixed to the property. Such items include the following:


Your renters insurance protects your furniture from fire, theft and other types of damages.


Your carpets can be expensive. So, you must include them in your renters insurance.


This type of insurance also covers all kinds of clothes. So, you can protect your expensive clothes against accidents, theft and other similar things.


It also covers electronics including computers, laptops, music system, television and so on.

Decorative Items

You can also protect your decorative items under this kind of insurance. Such things include idols and figurines, photo frames, lamps, vase, paintings, expensive clocks and many more things.

Appliance and tools

You can also include your expensive tools and appliances like dishwasher, washing machines and vacuum cleaners. This insurance will protect such items from any damage.


Renters insurance also covers your jewellery. If you want to protect your expensive jewellery from any theft, this insurance is essential.

What Situations Does Renters Insurance Covers

When your belongings are inside your home or yard, the renters insurance policy can protect the items from the following types of damage.

• Storm
• Theft
• Fire
• Vandalism
• Explosion
• Earthquake
• Leak water
• Wild Animals
• Flood (optional)
• Accidents (optional)

What should you look for in a Policy?

Before you move to a new house with the help of removalists in Sydney, it is important that you know about the renters insurance and opts for a suitable one. However, before selecting insurance, you should know the factors you need to consider.

It Should Cover You Risks: When you want to protect your belongings, you should consider the risk factors. You don’t need to worry about the building because your landlord pays insurance for that. Usually, you don’t need to cover items such as earthquakes. However, if you live in a flood-prone area, make sure your insurance cover flood damage.

It Should Have a Good Value: The best way to get a value is to find out a balance between affordable premiums and sufficient cover. Make a list of those items that you would like to replace first, like jewellery, laptops, phone, etc. Now look for a policy that provides a good value for those items.

It should give you Extra Value: There are many optional extras in a renters insurance that covers food spoilage, liability, cover for bicycle, and other sporting items. You will have to pay a little extra premium to avail the extra option so choose it carefully.


If you are living in a rental property, renters insurance becomes very important for you. However, before choosing a policy, you should know each and everything about this insurance. You should never forget that the location and security of your home can affect the cost of the insurance. Before selecting a policy, consider the points mentioned here. It will help you to get the right renters insurance.