Contents insurance

Hi all,

This is probably a stupid question but as a landlord, is contents insurance required or only building?

Thanks.

 

You will need some contents as well - not a lot but some as there are things like curtains which are considered contents.

 

It is not a stupid question at all, it is a very relevant one. There is no legal requirement to have insurance (at least in WA), although if you have a property management contract in place it will probably have a clause to say that ‘the owner warrants that as the owner that you have adequate insurance in place’. Landlord protection insurance not only insures you against damage caused by your tenant and other financial losses, that your tenant can cause you, but it covers the contents component of your insurance. Floor coverings, paint, window treatments etc. It is also relatively cheap at less than $350 per year. If you are going to get this sort of insurance, I strongly recommend that you go with a specialist Landlord protection provider and not just any old insurance company.

 

Thanks Westminster!

 

Thanks Tom!

 

I have building and landlord insurance - but no contents insurance as there are no carpets, and only cheap blinds and curtains, and an old dishwasher. But I reasses every year.

 

Also remember liability insurance is generally included in Contents and/or Building insurance