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  • Writer's pictureAmanda Bird

Moving into an Apartment? Here’s Key Insurance Information!

Apartment living is becoming more than a trend for Australians. It's become more of the norm, with thoughts of a house and big yard quickly turning into something of the past. There's really no surprise there since people's way of life tends to shift with the times. Today, high-density areas are more appealing because there are bigger opportunities for work. It also affords a more appealing lifestyle.

So if you're looking to move into an apartment, you're certainly not alone.

Moving to an apartment, just like any other move, will require appropriate preparation. This includes getting insurance.

What Is Apartment Insurance?

Living in an apartment generally involves playing a part in a strata agreement. That's part of the building collectively, so the physical structure's insurance is probably already in strata fees. Territories and states tend to vary in terms of legislative requirements. Structure is generally not part of the things to consider in terms of apartment insurance. The property management office or whoever is in charge of the property should be able to provide concrete answers.

Renters, needless to say, don't have to worry; it is the responsibility of the landlord to get the property or structure insured.

This is where contents insurance comes in.

How Does Contents Insurance Work?

Contents insurance helps with the repair and replacement cost of personal items in a household. This includes furniture, electrical appliances from the TV to computers, curtains, jewellery, toys and clothes.

You, the renter, will have the household items you own covered. Anything that family members who live with you own during the time you're renting the apartment will also be part of the coverage. Depending on the policy you get, you could even get motorised wheelchairs and sporting gear insured. Even the refrigerator gets coverage; should there be an electric failure, spoiled food can be replaced.

What Does Contents Insurance Not Cover?

Out of all the things that contents insurance protects, it does not include portable items that could be brought outside the home and "permanently attached" items like light fixtures or kitchen cabinets.

Even people that own their place of residence can actually benefit from taking this on. Contents insurance can go a long way over time.

How Does Contents Insurance Benefit Someone in an Apartment?

Aside from all the aforementioned coverage, legal liability cover is another key benefit. If an accident happens in the apartment, such as a guest being injured from tripping over the carpet, the homeowner will be protected against legal costs. Protection within Australia outside the home can also come with a legal liability cover.

Some contents insurance policies even come with benefits that may seem surprising. This includes the likes of "new-for-old" replacement on items.

It's also possible to have certain extras, such as a portable contents cover or accidental damage cover. The latter covers problems like red wine accidentally splattering on an area rug.


Insurance is a very important aspect of a person's life. This is particularly true for homeowners and even people who are simply renting out an apartment. For apartments, the structure and property are to be insured by the landlord. Renters will do best to take out contents insurance.

Trying to get home and contents insurance for your new apartment? Let New Wave Insurance help you out! Whether it’s a matter of assets, vehicles or business, we can’t wait to help you find the best insurance. Contact us today!

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