Insurance on an apartment

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

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  1. menty

    menty Well-Known Member

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    29th Jun, 2015
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    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 ?
     
    menty, 3rd Jun, 2016
    #1
  2. Nick Valsamis

    Nick Valsamis Well-Known Member

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    Landlord insurance usually includes contents insurance so that is all you will need.
     
    Nick Valsamis, 3rd Jun, 2016
    #2
  3. menty

    menty Well-Known Member

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    How do you estimate how much the "contents" cost ?
     
    menty, 3rd Jun, 2016
    #3
  4. Nick Valsamis

    Nick Valsamis Well-Known Member

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    Sydney
    The insurer will have a set amount. For example EBM have 50k which is more than enough for an apartment.
     
    Nick Valsamis, 3rd Jun, 2016
    #4