Apartment Insurance

Apartment insurance is great for anyone who wants to insure the belongings in their home, but not the building. You can even add cover for fixtures and fittings, so more permanent features like kitchen countertops, air conditioning units, and solar power systems are also protected.

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Name	Product	Theft	Storm	Flood	Accidental Damage to Home or Belongings	Outdoor Contents	Electrical Motor Burnout
Budget Direct Contents Insurance				Optional	Optional	Yes - $1,000	Optional	Get 15% off your first year's premium when you purchase cover online. T&Cs apply.	Get a quote View details	Compare	loading Fetching your data...
Youi Contents Insurance					Optional	Yes - $2,500		Get cover for your contents, including theft, storm and flood.	Get a quote View details	Compare	loading Fetching your data...
Virgin Contents Only				Optional	Optional	Yes - $1,000	Optional	Grab a $100 e-Gift card when you purchase a new eligible Virgin Contents only insurance policy by 30 September 2020. You’ll also save up to 15%. T&C's Apply.	Get a quote View details	Compare	loading Fetching your data...
St. George Contents Insurance						YES		15% off for your first year. Promo code: COVER	Get a quote View details	Compare	loading Fetching your data...
Westpac Contents Insurance						Yes		15% off for your first year. Promo code: COVER	Get a quote View details	Compare	loading Fetching your data...
Real Top Contents Insurance						Yes - $2,000	Optional - $2,000	Save up to 10% when you purchase cover online.	Get a quote View details	Compare	loading Fetching your data...
Coles Contents Insurance					Optional	10% of the contents sum insured	Optional - $2,000	Buy online and save 10%. Collect double flybuys points at Coles Supermarkets. T&Cs apply.	Get a quote View details	Compare	loading Fetching your data...
Kogan Top Contents Insurance						$8,000	Optional - $2,000	Save up to 10% when you buy online.	Get a quote View details	Compare	loading Fetching your data...
ANZ Contents Insurance					Optional	Optional		Get a quote View details	Compare	loading Fetching your data...

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What does apartment contents insurance cover?

Here are some of the main things in your apartment that contents insurance can help protect.

Your personal valuables

Includes damage or theft to your laptop, TV, designer clothes, jewellery and more.

Permanent fixtures

Covers additions to your apartment like bathroom vanities, stovetops and air conditioners.

Accidental damage

Cover for mishaps like spilled wine, a smashed TV screen or a burst water pipe.

How much is apartment insurance? Compare quotes for contents insurance.

Here are some quotes on contents insurance so you can get an idea on pricing depending on the value of your belongings. You can also get a direct quote to match your needs.

• An apartment with contents worth $20,000
• An apartment with contents worth $50,000

Brand	Monthly	Yearly	Get quote
	$38	$381	Get quote
	$39	$385	Get quote
	$29	$343	Get Quote
	$29	$348	Get Quote
	$25	$273	Get quote
	$42	$415	More info
	$27	$228	Get quote
	$44	$475	More info
	$39	$385	More info
	$34	$334	More info

Brand	Monthly	Yearly	Get quote
	$40	$401	Get quote
	$41	$405	Get quote
	$33	$400	Get Quote
	$34	$313	Get quote
	$43	$470	More info
	$34	$406	Get Quote
	$25	$268	Get quote
	$53	$522	More info
	$53	$572	More info
	$41	$405	More info
	$44	$435	More info

• Learn more about our methodology

  • Quotes were obtained for the same three-bedroom New South Wales home in Baulkham Hills owned by a family of two.
  • Building replacement costs for all quotes was $1 million, with an excess of $500.
  • Quotes were obtained in 2020 and were for contents insurance only.

  • Homeowning family of two who moved into their property in 2019.
  • Three-bedroom, one story freestanding house on flat ground with brick veneer walls, terracotta tiled roof, no verandas and built in 1980.
  • Windows secured by deadlocks, with no security devices.

Do I need home insurance for my apartment?

Legally, you're not required to have insurance for your apartment. However, it's a good idea to take out a policy if you have any expensive items that you'd like to protect.

I'm a tenant.
Lots of renters could benefit from contents insurance. If your home is burgled or a water pipe bursts and ruins your things, contents insurance can help you foot the bill.

I'm an owner-occupier.
Your apartment building is likely covered by strata, but you may want to add fixtures and fittings cover, as well as contents insurance. That way, you'll be covered for things like a damaged air-conditioner, as well as your belongings.

I'm a landlord.
If you're renting your apartment out, you should look at landlord insurance.

Why is contents insurance important if you live in an apartment?

Contents insurance is important for anyone who has items in their home which would be expensive to replace. It doesn't matter whether you live in a studio apartment or a three-story townhouse, contents insurance is worth considering. It can protect everything from your TV and audio equipment, to expensive jewellery and designer clothing.

How to reduce the cost of apartment insurance?

There are many ways to reduce the cost of home insurance, like increasing your excess and taking advantage of discounts. If you live in an apartment, there are a few extra things to consider when trying to save.

• If your building has security. How secure is your apartment building? Are there gated stairwells? Can guests only gain access to the complex or to the lifts with a key or a card, or can anyone just wander in off the street at any time? The more secure your apartment is, the smaller the risk of theft or burglary and the more affordable your premiums will be.
• If doors lock automatically. Doors that lock automatically when shut are another simple measure that can greatly increase the security of a building and make it harder for uninvited strangers to get in.
• If you're on a higher floor. As a general rule, the higher up your apartment is, the less likely you are to be broken into. This can help lower your apartment contents insurance premium.
• If you don't have a balcony. Burglars gaining access to apartments through unlocked balcony doors is a lot more common than you might think, so apartments without balconies generally tend to be cheaper to insure.

What can I do to protect my apartment?

Insurance will only help cover you for accidents and the unexpected. It won't help if the damage is caused by your own neglect. Here are some tips to help prevent damage and loss to your apartment.

Regular maintenance of the apartment will help you identify areas of wear and tear before they cause problems.

Increasing security with security doors and surveillance cameras can help deter thefts.

Hiring professional handymen to help with more technical jobs can save you time and stress.

Compare apartment insurance now

Frequently asked questions

• How do I protect permanent fixtures?

  If you own the apartment, you may want to protect permanent fixtures. All you have to do is take out additional "fixtures and fittings" cover on top of your contents insurance policy. This will cover things like bathroom and kitchen cabinets, air-conditioners and anything fitted to your apartment. This type of cover is usually only available when there is a body corporate or strata insurance.

• What is body corporate insurance?

  The body corporate, which is sometimes referred to as the owners' corporation, is responsible for managing and maintaining the common areas of an apartment block. As the owner of an apartment or unit in the property, you become a member of the body corporate and can have a say in the decision-making process to do with all matters concerning common areas.

  The body corporate is made up of all lot owners in the strata scheme and performs the following important roles:

  • Ensuring that adequate insurance cover is in place for all the buildings, including cover against physical loss or damage to the building as well as public liability cover for common areas
  • Organising the repair and maintenance of common property, for example car parks, security gates and public lighting
  • Establishing and enforcing by-laws that set out what lot owners can and can't do, for example own a pet
  • Deciding how much each lot owner must pay so that the body corporate can perform all necessary tasks
  • Preparing financial statements and maintaining financial records

  The body corporate may vote to get a professional strata management team to manage the building on its behalf, or it may decide to take care of all management tasks itself.

• What is strata insurance and do I need it?

  Strata insurance covers any shared areas within the apartment building. So that could be things like the roof, lifts or pool. It's compulsory, so you and your neighbours will all be obligated to have strata insurance. You can learn more about what's covered, and how to find a policy, on our strata insurance page.

• Do I need home insurance if I own an apartment?

  Home insurance generally covers the building, while contents insurance covers your belongings. Because apartment owners are required to get strata insurance, you don't need home insurance. However, you may want to buy contents insurance and add on cover for fixtures and fittings.

• What if I want to rent my apartment?

  You'll need to consider buying landlord insurance. Landlord insurance covers all your fixtures and fittings in the apartment, which includes things like window blinds, carpets and light fittings.

  These policies also include financial protection against a number of other risks, such as if a tenant defaults on their rental payments or if a public liability claim is made against you. Some landlord insurance policies will even cover your loss of rent if the apartment suffers contents damage and becomes uninhabitable for a period of time.

  If you need cover for an apartment you want to rent out as an investment property, check out our guide to landlord insurance for more details on how this type of insurance works.

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