.svg)
Compare renters insurance in Australia
Written by
Tina Sendin
Edited by
Laura Crowden
Reviewed by
Adrian BennettOur Home and Contents partners
iSelect does not compare all providers in the market or all policies offered by our partners in your area. Not all policies or special offers are available to all customers. Learn more.
What is renters insurance?
Renters insurance is simply contents insurance for renters. It protects your personal possessions if they unfortunately get damaged, stolen or lost in an insurable event such as theft, fire or water damage. It only covers your personal possessions – like furniture, clothes and electronic devices. It doesn’t cover the building structure, as this is the landlord’s responsibility to insure.
Whether your furniture is IKEA staples or carefully curated bespoke pieces you’ve collected over the years, renters insurance could help cover the cost to replace or repair them.
Is renters insurance worth it in Australia?
Yes, contents insurance can be well worth it for renters. It helps provide tenants with invaluable peace of mind that their personal belongings are protected, particularly if they’d be expensive or difficult to replace! Because landlord insurance only covers the building itself, without contents insurance you could be left with a hefty replacement bill following a sudden storm, house fire or burglary.
Contents insurance for renters helps financially protect what makes your rental property space feel like home. When considering renters insurance, you might want to use a comparison site like iSelect to explore options from a range of brands in one place.
How do I calculate the value of my belongings?
To calculate the value of your belongings, you can either use an online contents insurance calculator or list the items you want to insure before estimating the cost to replace each. This will help you to choose an appropriate sum insured for your contents, which is the maximum amount that your insurer will agree to pay for the cost of repairing or replacing your belongings with equivalent alternatives.
So if the absolute worst-case scenario happens (knock on wood it doesn’t), and you’re stuck replacing all your stuff (including your Dyson stick vacuum), the sum insured in your contents policy would accurately reflect the value of your belongings. It’s also worth understanding any policy sub-limits, which are maximum caps for specific categories of items, such as jewellery or electronics.
Here’s a step-by-step guide to help calculate the value of your belongings:
Take a home inventory
Doing a home inventory involves walking through your rental property and noting all the items you want to insure in each room. It’s worth thinking of categories to keep things organised, such as furniture, electronics, kitchenware and clothing.
You can also take photos or videos, or even write down an extensive list of items and their estimated value – guided by things like receipts and serial numbers.
Estimate the value of each of your belongings
You may want to research the cost of replacing these items at their current prices with equivalent alternatives. This might involve some online searches and checking current prices for similar (if not the same) models.
Now, if you feel like you haven’t got the time to dive deep into what you own and what it’s all worth, you might want to consider using online contents calculators to get a general estimate of your sum insured.
Understand policy sub-limits on the get-go
A sub-limit is a maximum cap that your insurer will pay for a specific category of items within your contents insurance policy. For example, you might only be able to insure one piece of jewellery up to $1,000 unless you arrange additional specified contents coverage.
Content insurance for renters explained
Let us help you get your head around the ins and outs of contents insurance for renters.
How do I compare renters insurance policies in Australia?
First, calculate the total value of replacing your belongings. Then get quotes from various insurers based on premiums, excess, optional covers and policy limits. It’s also worth looking into what others say about an insurer’s claims process and its overall reputation.
Picking a great renters insurance policy doesn’t have to be a headache. All you need to do is know what to look for. Here are four key things you can keep an eye on when sizing up your options:
Coverage and contents sum insured
It’s worth double-checking what’s covered in your contents insurance policy, like your gadgets, furniture or wardrobe essentials. Does the sum insured cover the actual value of your stuff?
Optional extras
Some insurers give you the option to add-on extras. Think additional cover for portable items, or things you take out and about, like mobile phones. You might also want to consider extra protection for pricier bits and pieces like jewellery, instruments or your state-of-the-art gadgets like laptops – in case of accidental loss or damage.
There’s also accidental damage cover that could take care of your personal belongings for unintentional damage.
Excess
Excess is what you pay out of your pocket if you lodge a claim. If you want to bring your premiums down, you can increase your excess amount.
Making sure your excess is an amount you can afford come claim-time can help you dodge a future financial headache.
Claims process and reputation
When comparing renters insurance policies in Australia, you might want to have a look at an insurer’s reputation and how smooth its claims process is.
It’s worth sussing out the reviews and see how the insurer handles claims. You don’t want to hit roadblocks if you need to make a claim! A solid reputation with lots of positive word-of-mouth could save you a lot of grief down the track.
What events does renters insurance typically cover in Australia?
Renters insurance in Australia, known as contents insurance, typically covers belongings against unfortunate events like burglary, fire, storm, flood and water damage from burst pipes. It also generally includes legal liability cover and – in some cases – lock replacements, spoilage, temporary accommodation and commercial storage for your belongings if you can’t live in the rental because of insured events.
Things like accidental damage and motor burnout could be covered, too, if you pay extra for optional add-on covers.
While every policy is different, here are some insured events that tend to pop up across a variety of renters policies, including:
- fire and explosion
- storm and rainwater damage
- lightning strike
- accidental breakage of glass, ceramics and sanitary fixtures
- earthquake and tsunami
- theft and attempted theft
- vandalism and malicious damage
- impact damage (like a falling tree)
- sudden escape of liquid (like a burst pipe).
If you’re ever in doubt about what you’re insured for, it’s worth diving deep into the relevant product disclosure statement (PDS) or calling your insurer. When disaster strikes, you don’t need the extra stress of discovering you’re not covered!
What items are typically covered by renters insurance in Australia?
Renters insurance, known as contents insurance, typically covers the costs of repairing or replacing items in your rental property. We’re talking about household appliances, furniture, electronics, clothes and other prized possessions (like jewellery and work tools) that are damaged, stolen or destroyed because of insured events like fire, storm, earthquake, vandalism, malicious damage or theft. It also provides legal liability cover for damage you or your guests accidentally cause to your rental property or to others.
Typically covered
You’ll find that generally most of your belongings sitting at home will be covered by your contents insurance – from electronics and appliances to things you wear such as clothes and jewellery.
Whether you like to take a minimalist Marie Kondo approach to your belongings or prefer to be like a bowerbird, collecting everything and anything that catches your eye, renters insurance could help replace or repair your personal belongings such as the following:
- household appliances, like your beloved Dyson and hard-working washing machine
- furniture and furnishings, including paintings and works of art
- computers, TVs and other electronics
- clothes, jewellery and watches
- tools of your trade, from lawn mowers to musical instruments.
Again, to get the full story on what’s covered, it’s agood idea to check the details of your PDS or talk to your insurer.
Not typically covered
Keep in mind that exclusions apply in most contents policies, even when almost everything you brought to your rental is considered insurable contents.
It’s good to know what these are so you don’t end up caught out. Here are some of the common exclusions:
- drones
- items that form part of your home or are stored outside of your home, such as your caravans and huge non-motorised watercrafts
- pets (including birds, fish, or reptiles!)
- tickets or coupons
- artificial grass or turf.
But just because you can’t insure them under your renters insurance, it doesn’t mean they have to be left out in the cold. You may simply need a different type of insurance, such as car insurance for your motor vehicle, even when it’s parked in the driveway.
And for valuable items you regularly take outside your home – think watches, jewellery or bikes – it might be worth considering personal effects cover (also known as portable contents insurance) to your renters insurance.
Helpful tip
If there’s something special that you really want insured, you can always look into specified contents cover. This means that these items are specifically listed on your policy and can be insured to a higher amount. Some people choose to do this for more expensive possessions like jewellery, art, electronics and collectibles. It may mean higher premiums, though.
Natasha Etschmann
Investor & Personal Finance Educator
How much can renters insurance cost in Australia?
The cost of renters insurance in Australia is generally based on the value of all your belongings (at least those you want coverage for), location, the kind of property you’re renting and other factors like security features. Your chosen excess can also affect the cost of your premium.
Let’s look at a fictional scenario. As of April 2026, Maria who has been renting a 3-bedroom unit in Bell Park Geelong 3215, Victoria for a year with standard contents policy with a replacement cost of $50,000 could be looking at somewhere around $28 to $36 a month for contents insurance for your rental (or $333 to $424 annually).1Indicative pricing for contents insurance based on a 3-bedroom unit in Bell Park Geelong, Victoria rented for a year with standard contents policy with a replacement cost of $50,000, with no extra coverage needed. Comparison conducted via the iSelect website, 20 April 2026.
Again, these dollar figures could go up or down depending on the factors mentioned above, as well as things like the material of the house, whether it’s part of a body corp or strata title, the tenant’s claims history and whether there are also optional extras like personal effects cover.
With all of this in mind, you might need to do a fair bit of searching and comparing to find a renters insurance policy that suits your budget. With iSelect, you can see how different policies from a range of brands measure up in only a matter of minutes.
Let’s dive deeper into some of the common factors that can influence the cost of renters insurance.
Location of your home
Where you live plays a big role in determining the cost of your policy. If you’re in a suburb with higher crime rates, insurers might consider you a bigger risk, which could bump up your premiums. On top of that, living in an area prone to natural disasters like floods or bushfires might also mean paying more for cover. It’s all about how likely the insurer thinks you are to make a claim.
Value of your belongings
Your policy’s contents sum insured (again, the total amount your belongings are covered for) needs to line up with what everything’s worth.
The more stuff you’ve got and the pricier it is, the more you’ll need to insure – which means higher premiums. Got fancy gadgets, designer gear, or deluxe furniture? Then you can expect to pay a bit extra to keep them protected.
Level of cover
Whether you’re getting basic or comprehensive level of cover could affect the cost of your contents insurance.
If you’re going for a comprehensive policy with extras like accidental damage or portable contents coverage, your premium will likely be higher. On the flip side, a basic policy with standard inclusions might cost less but might leave some gaps in coverage.
As with all insurance, it’s a balancing act between you’re the level of risk you’re comfortable with, and the amount of money you’re willing to pay for cover.
Excess amount
Excess is what you’ll pay up-front if you make a claim and can also affect the cost of renters insurance. Choosing a higher excess can often lower your premiums since you’re taking on more of the risk yourself.
But remember, it’s got to be an amount you can actually afford to pay if something goes wrong, so it’s worth avoiding going overboard with the excess just to save a few bucks.
Frequently asked questions
Who offers renters insurance in Australia?
We’ve teamed up with home insurance providers so you can compare a range of policies and explore your options.
iSelect does not compare all providers in the market or all policies offered by our partners in your area. Not all policies or special offers are available to all customers and some may only be available over the phone or on the website. Learn more.
Here are some other insurers currently offering renters insurance in Australia:
- 1300 Insurance
- 1CoverAAMI
- Allianz
- Ansvar
- ANZ
- APIA
- Assetinsure
- Aussie (AHL Investments Pty Ltd)
- Australian Seniors Insurance Agency
- Bank of Melbourne
- BankSA
- BOQ
- Bupa
- CBA Insurance
- CCI Personal Insurance
- CGU
- CHU
- COTA Insurance
- Defence Service Home Insurance Scheme
- Dodo
- Elders Insurance
- Flex Insurance
- FM Global
- GIO
- Guild Insurance
- Hollard Australia
- Honey
- ING
- InsureLite
- MHIA
- National Seniors Insurance
- NRMA
- Over Fifty Insurance
- Ozicare
- QBE
- RAA Insurance
- RAC
- RACQ
- RACT
- RACV
- Real Insurance
- RentCover Landlord Insurance
- Retirease Insurance
- SGIC
- SGIO
- SGUA
- ShareCover
- St. George
- Strata Community Insurance
- Suncorp Insurance
- Terri Scheer Landlord Insurance
- Territory Insurance Office
- Westpac
- WFI
- Youi
How do I make a claim on contents insurance in Australia?
While most insurers have their specific claims process outlined on their website, it would typically involve gathering your evidence (like photos or videos of damage or loss), lodging your claim through the phone or online portal, answering potential questions from your insurer and waiting for approval.
Here’s a general step-by-step guide to help you out:
- Put together all the evidence you have: It’s a smart move to collect all the proof you’ll need to help back up your claim. This might include photos or videos of the damage or loss, and receipts or invoices for the items. If something’s been nicked or vandalised, a police report might be handy too. The more details you provide, the smoother things are likely to go.
- Lodge your claim: It’s time to get in touch with your insurer. Most providers will have an online claims portal, a phone number, or even an app to make it easy. Submit all your evidence and fill out any forms they need. And when you need to explain exactly what happened, clear and simple usually does the trick.
- Answer follow-up questions: Your insurer might come back with a few more questions or send someone out to check the damage. Don’t stress – this is just part of the process to make sure everything’s above board. A good rule of thumb is to be honest and ready to give them what they ask for.
- Wait for approval: Once everything’s been reviewed, your insurer will decide if your claim is covered. If it’s approved, they’ll either reimburse you for the cost of replacing your items or sort out repairs for the damage. Fingers crossed for a quick turnaround!
Can I insure individual items?
Yes, you can insure individual items. For high-value items, you could look into specified contents cover, which allows you to specifically list individual items on your policy.
If there’s something special that you really want insured, you could insure it on a higher individual amount. Some people choose to do this for more expensive possessions like jewellery, art, electronics and collectibles. It will likely mean higher premiums, though.
Can I get renters insurance if I live in a share house?
While it can be tricky, it’s possible to get renters insurance for your share house! You can protect your personal belongings against fire, theft, damage and other insured events either by taking out a single policy for your own items or having a joint one with your flatmates.
There are some things to watch out for, though, whether you choose to buddy up with your housemates on your renters insurance or not. For instance, some insurers require housemates to be individually listed as policyholders and may limit the number of unrelated people who can be listed on the policy.
Is renters insurance mandatory in Australia?
No, renters insurance isn’t a legal requirement in Australia.
That said, it can be a very good idea if you want to make sure you don’t end up out of pocket if something goes wrong. Accidents happen, burglars strike, and Mother Nature can throw a tantrum – renters insurance helps give you peace of mind knowing your stuff’s covered.
What’s the difference between renters insurance and contents insurance?
They’re essentially the same insurance product. Renters insurance is contents insurance that people renting properties get to protect their prized possessions.
Get started on comparing home and contents today!
Save time and effort by comparing a range of home and contents insurance policies with iSelect
iSelect General Pty Ltd (ABN 90 131 798 126. AFSL 334115) has partnered with Compare the Market (ABN 83 117 323 378. AFSL 422926) to compare a range of home insurers and policies. Not all providers in the market or all policies offered by the partners are compared and not all policies or special offers are available to all customers.
A number of our participating general insurance brands are arranged by Auto & General Services Pty Ltd ACN 003 617 909 on behalf of Auto & General Insurance Company Limited 111 586 353, both of which are related entities of iSelect Limited. Our relationship with those companies does not impact the integrity of our comparison service. Click here to view iSelect’s range of providers.
Any advice provided by iSelect is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect’s advice or purchasing any policy. You should consider iSelect’s Financial Services Guide which provides information about our services and your rights as a client of iSelect. iSelect receives commission for each policy sold that is a percentage of the premium or a flat fee. Ask us for more details before we provide you with any services.