Renters Insurance

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Renters Contents Insurance

If you’re renting a house, unit or share house and want to protect your belongings, you might want to consider taking out Budget Direct home contents insurance.

Landlords are responsible for insuring their rental property building and any contents they own against accidental damage or loss due to bad weather, burglary and fire.

However, landlord insurance policies do not cover tenants’ contents – their furniture, whitegoods, electrical appliances, clothing, personal effects and other possessions.

A Budget Direct Contents Insurance policy can provide renters with insurance coverage to either repair your insured contents or replace them with new ones; if a man-made or natural disaster strikes, you won’t be thousands of dollars out of pocket.

What’s covered

A Budget Direct renter’s contents insurance policy includes the following benefits as standard (to see the full list of benefits, please refer to the product disclosure statement):

Renters Insurance covers
Cost of repairing or replacing (new for old) your lost or damaged contents due to events like storm, rainwater, fire, lightning, theft, malicious damage, escape of liquid, impact, and accidental breakage up to your sum insured
Temporary accommodation for you and your pets if your rental property is unfit to live in due to loss of or damage to the property or your contents up to 10% of your sum insured†,‡
Removal and disposal of damaged contents and storage of your undamaged contents during the time it takes to repair your rental property up to 10% of your sum insured
Loss or theft of credit and other financial transaction cards up to $1,000
Spoilage of perishable food up to $500
Replacement of locks when your keys are stolen up to $500
Legal liability for someone else’s injury or death or for loss or damage to their property following an accident at your insured address up to $20 million
Contents lost or damaged in transit during your move to a new address up to 20% of your sum insured
Guests’ or visitors’ uninsured contents up to $500

* Unless you have specified a replacement value, limits apply to the amounts we’ll pay for certain content items.
We’ll deduct your usual rental expenses from the amount we pay.
We’ll pay this amount in addition to your sum insured.

Upgrade your cover

For a higher premium, you can customise your renter’s insurance cover by adding one or more of the following optional benefits to your policy:

Optional cover add-ons
Personal Effects Covers you for portable items (e.g. jewellery, sunglasses, camera) you take with you away from your home.
Accidental Damage

Standard cover includes accidental breakage of glass, ceramic and sanitary fixtures that you’re responsible for under your lease agreement – this option extends your cover to your belongings.

Motor Burnout In case a power surge burns out a motor in an electrical appliance you own (less than 10 years old); we’ll also pay for related spoilage of perishable food.
Flood Cover Covers you for the cost of damage caused to your contents by flooding rivers, creeks and other bodies of water. Flood Cover may not be available for some addresses.

You can add these optional benefits to your policy when you get a quote or – if you’ve already purchased a policy – by calling one of our team members on 1800 182 310 or logging into your online account.

Find out more

The information on this page is a summary only. For more details about Budget Direct Renters Insurance, including the terms, conditions, limits and exclusions that apply, please read the product disclosure statement, financial services guide and key facts sheet.

How much cover do I need?

It’s up to you to determine how much it would cost to replace your personal possessions if they were totally destroyed, for example, by fire – the ‘sum insured’.

This is the maximum amount we’ll pay, so it’s important the sum insured you nominate is sufficient to replace your belongings at today’s prices.

We have compiled a list of Home & Contents Insurance Calculators which you can use to estimate the costs involved in repairing or replacing your home or possessions in case something happens. These may help you to work out the sum insured value you’ll need to nominate for your insurance policy.

Get a Renters Insurance Quote

Budget Direct won Money Magazine’s Best of the Best 2018 award for Cheapest Home & Contents Insurance, so if you’re looking for low cost renters insurance get a quick online quote today and see what you could save.

Buy a home contents policy online and save 15% or call us on 1800 288 149.

Get a Quote

How to make a Renters Insurance claim

If your belongings are lost, damaged or destroyed and you need to claim, we’re here to help.

Follow these steps:

  1. Take all reasonable steps to prevent or minimise further loss, damage or liability.
  2. Report any theft (or attempted theft) or malicious damage to the police as soon as possible.
  3. Lodge a claim, providing us with the full details of the incident and the relevant supporting documents.


If you make a claim, you’ll be required to pay a Basic excess and any additional excesses that apply (see table below).

Excess Amount
Basic $100 to $5,000 – it’s your choice
Based on perceived risk; may not apply to your policy
Subject to underwriting criteria
Earthquake Same as Basic excess

Your certificate of insurance shows you the amount and types of excess that apply to your cover.

Frequently asked questions

What exactly are ‘home contents’?

Home contents are all the things you own in your home that aren’t permanently attached, or fixed, to your home building, including:

  • furniture and furnishings
  • computers and electrical appliances
  • kitchenware
  • clothing and shoes
  • personal effects like jewellery, sunglasses and cameras (to insure these items when you take them away from your home, you’ll need to add the Personal Effects benefit to your cover)
  • carpets (loose) and rugs.

I’m moving into a place with some housemates – will you insure me?

Yes – provided you’re sharing with two or less unrelated housemates.

Is there a minimum amount of contents cover?

Yes –$20,000.

Am I covered for valuables I take with me away from my home?

Budget Direct home contents insurance automatically covers your portable items (e.g. jewellery, sunglasses, cameras) if they are lost or damaged while inside your home. If you want these items to also be insured when you take them with you away from your home, you’ll need to add the optional Personal Effects benefit to your cover.

Am I required to provide proof of loss or damage?

Allowing us to assess the damage or loss is usually all that’s required to prove your loss.

If an item has been lost or stolen and can’t be assessed, we may ask you to provide proof of ownership and value.

This proof could include:

  • purchase receipts
  • valuations
  • credit card statements
  • serial numbers
  • owner’s manuals
  • guarantee or warranty certificates
  • photos or videos of your item
  • product packaging.

See all home and contents insurance FAQs

*If you cancel the policy within 21 days without making a claim, we’ll give you a full refund.
** Conditions apply. See the Product Disclosure Statement for full details.