We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
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.
Compare apartment contents insurance in a few clicks
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.
We rounded all the quotes to the nearest dollar. The customer profile had no previous claims and a $500 excess.
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.
Homeowning family of two who moved into their property in 2020.
Quotes were obtained in January 2021 and were for contents insurance only.
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.
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.
Promoted
Get 30% off your new home & contents insurance
Save 30% on your first year's premium when you purchase a new combined Home & Contents insurance policy online. T&Cs apply.
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.
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.
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.
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.
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.
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.
Nicola Middlemiss is a senior writer at Finder, focusing on all things insurance. She's been a journalist for over five years and has contributed to a wide range of industry publications including Insurance Business, MoneyMag, the Educator, Your Investment Property, Mortgage Professional Australia, and Wealth Professional. She has written over a thousand articles covering the insurance industry and now uses that insight to help Australian consumers understand their own insurance policies, and make smarter decisions. Nicola has a Tier 1 General Insurance (General Advice) certification and a Bachelor's degree from the University of Leeds.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
