Do I need contents insurance for an IP?

thanks brett . A lot of stuff that is covered by other insurance companies seems to explicitly excluded like water heaters, build in furniture (wardrobes). I would thought floor coverings like floorboards would have been covered under buliding as to remove would damage the flooring irrespective.

 

We went through BJS Insurance Brokers.

 

Cheers.
Haven't heard of them but will check them out.

 

just had a Terri Sheer LL policy with $60K content cover...

 

Yes, you need insurance for property in USA but you cant use it unless the house burns down or totally flattened.

If you claim for minor stuff, it will be very hard to get insurance again and there is no such thing as landlord insurance.

I will never complain about insurance companies or banks again, we have it good here.

 

Yes you need it for strata as well. You need it for EVERY property- full stop.

 

Absolutely. Apart from anything else, in a strata property the contents/landlords policy is where you will get your liability insurance. Even if you can survive a loss of potentially thousands or tens of thousands for contents in a total loss, you may not survive being sued for hundreds of thousands or even millions should someone injure themselves inside your unit and you are found to be at fault.