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You should be given the tools to protect your valuable possessions. You spend time and money personalising your environment, whether you own your home or rent it. Because of this, it’s crucial to safeguard the items on your premises.
The things inside your house or apartment make it special and wholly yours. This is why it is more than just a structure. It is vital to consider how you might feel and whether you could buy new personal goods if your current ones were stolen or damaged in a fire or flood.
This is where contents insurance comes in to make sure you may pay for the repair or replacement of your priceless possessions.
However, it also includes coverage for things you might not have even considered, such as your home’s furnishings and fixtures, which are not covered by building insurance.
In the sections below, learn more about what contents insurance may do for you and your belongings.
A combined building and contents insurance coverage may provide protection for your most important items if you own a house that is not subject to strata title.
Building insurance covers your home’s basic structures, but contents insurance may also protect the stuff that make your house a home, such as your furniture, fixtures, and appliances, as well as your personal belongings like jewellery, clothing, and sporting equipment.
Certain kinds of properties are protected by strata insurance. Getting a strata insurance policy has numerous significant distinctions between a building insurance policy and a landlord’s and contents insurance.
It’s crucial to understand that while the building and common areas are protected by strata insurance, held by the body corporate, it doesn’t cover everything. To be sure you understand what is and isn’t covered by the insurance, speak with your strata manager.
It could be wise to think about contents insurance if you rent. It may provide coverage for any loss or damage to belongings while they are housed in your residence, including furniture, jewellery, clothing, televisions, laptops, and electrical equipment.
Some consumers mistakenly believe that their landlord’s insurance policy covers their personal belongings, but this is not the case. You must get your own insurance plan if you wish to protect your own property.
Renters enjoy the freedom from concern over building insurance as one of their advantages. However, if you haven’t insured your possessions, you may still be putting your finances in danger. For instance, you can lose your furniture, appliances, and other personal belongings in the event of a fire. Or, a thief might take your expensive, high-value possessions.
The possibility of recovering the cost of replacing these items as well as protection from these dangers may be provided by contents insurance. Therefore, it is sensible to think about contents insurance even if you rent.
Insurance for portable contents could be advantageous for everyone. It might close the gap and shield your possessions from harm, theft, or loss away from the house and throughout Australia.
Speak with your insurer about portable contents insurance if you want additional protection for objects you transport outside your house, such as a bike or laptop. Always read the product disclosure statement because different policies offer varying restrictions and exclusions.
If you’re looking for a home insurance broker, you should check out Ensura. They are insurance brokers in Australia, offering business, car, and home and contents insurance. Contact them now to consult about your premium options.
Disclaimer: As with any insurance, the cover will be subject to the terms, conditions, and exclusions contained in the policy document. The information contained on this webpage is general only and should not be relied upon as advice. The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific insurance product. It is only intended to provide education about the financial and insurance industry. The views reflected in the commentary are subject to change at any time without notice.
