Renters Insurance

What is renters insurance, and why is it important?

Renters insurance can cover the contents within a home, including your eligible valuable belongings following an insured event. This includes protection of your contents from unpredictable weather and the impacts of cyclones, floods, storms and bushfires. Renters insurance also protects you against things like theft, damage and legal liability.

What am I covered for?

Renters insurance covers your contents against loss or damage as a result of an insured event. For a full list of the insured events we cover, please refer to our PDS.

My contents aren’t worth that much. What is the point in having insurance cover?

Consider the cost of replacing all of your items if something happened to them, rather than their current value. In the event of a claim, and if you need to replace all your items, you may not have the money available to do so. This is why some customers choose to have contents insurance.

What insurance should I get if I am a tenant?

We offer contents insurance for renters whether you live with a flatmate, work from home or are moving house. With our cover and extras, we can protect your valuables from storms, theft, and accidents.

How much should I insure my contents for?

We aren’t able to provide you with advice on the replacement costs of your contents or how much to insure it for. Instead, we use the information you give us and data sourced from third parties to recommend an amount of cover you should have. You should use this recommendation as a guide only.

Your contents sum insured should include items such as fixtures and fittings (e.g. carpet, blinds, curtains), furniture, electrical goods, and all personal items. Items of value that you want to list on your Certificate of Insurance – such as jewellery, media or artworks – should also be included in the overall sum insured.

We recommend that you use a contents calculator to determine independently an appropriate sum insured for your needs, which you can then compare to the guide provided by us during your quote.

For more information or if you want to chat about your Bank Australia Insurance cover, contact us on 132 888 or visit our website at insurance.bankaust.com.au

Bank Australia Limited ABN 21 087 651 607, AFSL 238431 arranges this insurance as an agent for Honey Insurance Pty Ltd ABN 52 643 672 628, AFSL 528244. Insurance issued by RACQ Insurance Limited ABN 50 009 704 152, AFSL 233082 and distributed by Honey Insurance Pty Ltd and Bank Australia Limited (on behalf of Honey Insurance Pty Ltd). Terms, Conditions, limits and exclusions apply. This is general advice only and does not take into account your personal objectives, financial situation or needs and may not be right for you. If you purchase a general insurance product, Bank Australia Limited is paid a commission which is a percentage of your premium. Always read the PDS, any applicable SPDS, FSG and TMD available at insurance.bankaust.com.au/documents before making any decision.