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Insurance on an apartment

Discussion in 'General Property Chat' started by menty, 3rd Jun, 2016.

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  1. menty

    menty Well-Known Member

    Joined:
    30th Jun, 2015
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    65
    Location:
    Sydney
    Do I need to purchase building or contents insurance for a 1970s apartment that I have settled on ?

    The apartment will be leased out very soon but I have just finished renovating it with new kitchen,bathroom, floors , paint etc

    If there is damage to any of these areas I would like to be covered.

    Is this part of building insurance or landlord insurance ?
     
  2. Nick Valsamis

    Nick Valsamis Well-Known Member

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    Location:
    Sydney
    Landlord insurance usually includes contents insurance so that is all you will need.
     
  3. menty

    menty Well-Known Member

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    30th Jun, 2015
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    Location:
    Sydney
    How do you estimate how much the "contents" cost ?
     
  4. Nick Valsamis

    Nick Valsamis Well-Known Member

    Joined:
    20th Jun, 2015
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    504
    Location:
    Sydney
    The insurer will have a set amount. For example EBM have 50k which is more than enough for an apartment.