Apartment insurance could give you $20,000 worth of protection, for as little as $25 a month.
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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.
Covers additions to your apartment like bathroom vanities, stovetops and air conditioners.
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.
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.
Ready to compare apartment insurance?
Compare brands side-by-side to make sure you get the right cover for your apartment. Get a new policy or switch your existing policy to save money.
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.
Get 30% off your new home & contents insuranceSave 30% on your first year's premium when you purchase a new combined Home & Contents insurance policy online. T&Cs apply.
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.
Frequently asked questions
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