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Will I be able to afford renter’s insurance and is it worth it?

As opposed to building insurance, renter’s insurance rates are a little easier on the pocket. Depending on the insurance company you’ve decided on, the location of your rental property and the items you’re covering under your insurance policy, your insurance premium shouldn’t cost an arm or a leg.

Renter’s insurance will cover almost all your personal belongings within those four walls.

Renter’s insurance will cover almost all your personal belongings within those four walls. Similar to that of building insurance, your renter’s insurance will cover your belongings from any damage or loss caused by fire, theft, vandalism, electrical faults and certain natural disasters. However, make sure you ask your insurance broker what your renter’s insurance cover includes and pay attention to all the terms and conditions in the contract.

What doesn’t my renter’s insurance cover?

Minimise unnecessary problems