What is Tenant Insurance?

When you rent a place to live, it is typically unfurnished. You will be bringing a lot of your own items as you move into this rented accommodation. These belongings, known as your contents, can be covered by tenant insurance, which offsets the expenses of repairing or replacing these items if they are stolen or damaged. This is why tenant insurance is also often referred to as contents insurance.

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What does Tenant Insurance Cover?
How much does it cost?
Calculate Value
How to calculate the value of your contents?
What risks does Tenant Insurance cover?
When Buy
When should I buy Tenant Insurance?
How is it different from Landlord Insurance?

What is covered in Tenant Insurance?

Tenant insurance often has a single-item limit, typically set at $1,000. This means that items exceeding this value (such as high-end laptops and jewellery) may not be fully covered, unless you declare them to the insurer. This will contribute to adjustments to the cost of the insurance premium. If you possess many expensive jewellery, it's worth considering a separate jewellery insurance policy.


Does cover:

  • Clothes and jewellery
  • Electronic devices such as phones, laptops, televisions and other gadgets
  • Furniture and soft furnishings, like curtains or towels
  • Kitchen appliances
  • Bicycles
  • Musical instruments

Does not cover:

  • Unforced entry, such as leaving your door unlocked
  • Wear and tear of your contents
  • Unspecified high-value items
  • Misplaced or lost items
  • Deliberate damage by someone living in your home
  • Items stored outside the home
  • Leaving the property unoccupied for 60 days or more

How much does Tenant Insurance cost?

The cost of your tenant insurance policy can vary based on several factors, but a crucial step in getting the right coverage is ensuring that the policy you choose provides enough protection for all your belongings. To determine the appropriate coverage, you need to estimate the total value of your possessions. It's important to note that this value should reflect the replacement cost of your items, not their resale or original value.

How to calculate the value of your contents?

The total value of your possession is called your 'sum insured'. It is the maximum payout you would receive if you needed to be replace everything in the event of a covered loss. To determine your sum insured, follow these steps:

  • Take inventory:

    Make a list of your possessions. Categorise them into groups such as electronics, furniture, jewellery, etc.

  • Determine the value:

    For each item on your list, estimate how much it would cost to replace it with a similar item. Remember that most insurers will cover the cost of replacing or reinstating the contents with items of the same kind or type, but not superior to or more extensive than what you originally had.

  • Factor in sub-limits:

    Your policy may have sub-limits for specific categories, for example $1,000 for electronic gadgets. Take note of any items that may exceed these sub-limits, as you may want to consider additional coverage for those.

Adding up the total value of your contents (subtract any items that exceed your policy's sub-limits), you'll get your sum insured, which represents that coverage amount you should aim for in your tenant insurance policy.

What risks does Tenant Insurance cover?

As a renter, your tenant insurance policy typically covers your personal property against a range of risks, including:


Theft (Violent or forcible entry)


Water damage







In addition to the standard coverage, you can also consider getting an all-risk coverage, which will protect your belongings against accidental damage. It means that your belongings are also protected in cases of accidental mishaps, for example, if you accidentally crack your tablet screen or spill red wine on your fabric sofa.

When should I buy Tenant Insurance?

To ensure that your belongings are protected from unforeseen events, it's best to buy a policy as soon as you move into your rented property. Alternatively, you can purchase the policy earlier and set the coverage to start on the day you move in. This early action is crucial because it ensures your items are covered straight away in case anything unexpected happens.

How is it different from Landlord Insurance?

Tenant insurance and landlord insurance serve different purposes and cover distinct aspects of a rental property. While tenant insurance is taken out by people renting out a property, landlord insurance is designed for the property owner.

If your landlord has an insurance policy, it primarily covers some types of damage to their property and protect the permanent fixtures they've provided. However, your landlord's insurance policy almost always won't cover the items you bring to the house when you move in. Hence, you should have your own tenant insurance to protect your possessions.

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