Renters' contents insurance demystified

In a nutshell, renters' contents insurance provides cover for the stuff you love. Without it, you might be surprised at how little protection you have.

We own more than we think

When most people think about contents insurance, they think about big-ticket items. But small things add up fast. Furniture, your pots and pans, your clothes, your treasured collection of records from the '80s... it all adds up, and you haven't even started thinking about those expensive appliances.

Just imagine: if you were to lose all of your contents at once, how much money would you need to replace it all? Have a go at using our contents calculator to see what your things might be worth.

You aren't covered by your landlord's insurance policy

Your landlord will have their own insurance policy, but this doesn't cover your personal belongings. You are responsible for your own stuff, so you need your own insurance. Likewise, if one of your flatmates has their own contents insurance policy, your personal stuff isn't covered under their insurance either.

It covers you for legal liability

If you cause accidental damage to other people's property and you're held legally liable, then renters' contents insurance could help with any compensation you have to pay.
For example, if you ride your scooter into a car and damage the car, that is your fault, and you'd be liable for the cost to repair the damage to the car. You may be able to claim this cost under your contents insurance policy.

When is the right time to get a policy?

If you're living with your parents

If you're living as a boarder with your parents in their private home, you would usually be covered under your parents' Tower contents insurance policy.

If you're boarding away from home or in halls of residence

Students that are boarding away from home or living in halls of residence and have a parent with a contents insurance policy may be covered under Tower's "University and boarding school cover" benefit¹ (limits apply).* Keep in mind that our Premium policy covers up to $10k worth of stuff (or our Plus policy and Standard policy up to $5k), so this benefit may not cover everything. If it doesn't, then we recommend you take out your own renters' contents insurance policy.

If you've moved into a flat or your own rental

Congratulations! It's fun buying your own furniture and settling into a new flat. But now that you're on your own, no one else's contents policy will protect your belongings. It's important to consider getting your own insurance.

We understand that, when you're renting, costs can add up, so here at Tower, we have three levels of cover you can choose from to suit your needs and budget.

If you've recently bought some new stuff

The hard work has paid off, and you've gone and splurged on some new things. Nice! If you already have cover, it's a good idea to review if your sum insured is still adequate.

Hot tip: Christmas can be a great time to review your cover, as all those new pressies can really add up! Read more about whether new presents are covered under your existing insurance here.

How do I calculate how much it's all worth?

When you take everything into consideration, it can be overwhelming to manually calculate all your contents. Fortunately, we've made it easy to check the value of all your stuff by using our contents calculator. This can help inform your decision on what cover level you should get.

Let's get you covered

Once you're comfortable with an amount to insure your stuff for, it's easy to get a quick quote online. Or if you need to increase your existing cover, you can update your insurance online via My Tower or give our team a call on 0800 379 372.

In the event you lose your favourite things, renters' contents insurance is a smart investment that helps you be prepared for the unexpected.

*Terms, conditions, exclusions, and limits apply. Please read your Tower policy wording to understand these conditions.