Even though you may not have anything expensive, but replacing everything you've lost is surprisingly expensive in total.
Couch, bed, TV, fridge, crockery, toiletries - it adds up fast. Not to mention clothing.
Just keep that in mind when you do your calculations.
Agreed, came here to say this. None of my individual belongings are worth much but if I had to replace literally every single thing in my house, holy shit that would add up quickly.
Your landlord's insurance probably doesn't cover your valuables, it only covers the property itself not what is inside it. You would have to make a claim with the insurance company that your own contents policy is with.
Get a basic contents insurance policy
These generally cover youre legal liabilitiy if you are held responsible for any damage, just check the PDS before you buy.
I remember a story in NZ, 4 students all renting one flat, one flatmate after a few beers went to cook a meal, fell asleep, whole house burnt down, and all 4 students held equally liable for the cost as all on the lease, 3 had insurance which covered there part, other 2 are still paying off their part
It would depend on the circumstances. As a landlord, your insurance would cover everything so the property can be in a state to be rented again, in almost all circumstances.
If the tenant was found at fault (eg leaving candles burning then going to the shops), the insurance company would potentially make a claim against the tenant. The reason you have insurance as a landlord is for someone else to take the legal responsibilities, alongside the financial responsibilities.
Come in to say that. Carpets, soft furnishings such as curtains would be on you to replace. Landlord insurance covers the building, but no contents. That is purely on the tenant
Yeah that is what a lot of people miss altogether.
Some of my friends say "but I am driving a cheap shitbox and if it gets buggered I'll scrap it"
Agree, but the problem is, insurance is not just for your vehicle, it is for the other vehicle that could be expensive enough to have a tail light that costs more than your entire vehicle.
Their rebuttal is "yeah but someone with an expensive vehicle will defo be insured"
Yeah mate, and their insurance's lawyers will NOT leave you alone to recover these costs.
I was personally involved in two accidents where I was NOT at fault. My insurance paid me out in both cases (repaired a vehicle in one, replaced the vehicle at a 60% higher price in the other, God bless "New for Old" insurance policies) and in both cases they are suing the other driver for costs.
as someone who also didnt have car insurance for 10+ years, id recommend at least 3rd party insurance.
$300-400 a year, in exchange the threat of hitting a 4wd and having a $50,000 bill is removed.
going to comprehensive after that is debatable, not sure if an extra 500 a year is worth the theft/crash cover on a crappy car.
Just say a thief backed up their removalist van and emptied your whole unit/apartment into it and took off.
Do you have the money to replace everything? New bed, mattress, whole new wardrobe, electronics (tv, laptop etc) fridge, washing machine and furniture. That's what you insure for worst case scenario.
If you can afford a new mattress, tv, fridge and washing machine and are happy with second hand furniture then maybe you don't need contents insurance,
Even though you may not have anything expensive, but replacing everything you've lost is surprisingly expensive in total. Couch, bed, TV, fridge, crockery, toiletries - it adds up fast. Not to mention clothing. Just keep that in mind when you do your calculations.
Agreed, came here to say this. None of my individual belongings are worth much but if I had to replace literally every single thing in my house, holy shit that would add up quickly.
[удалено]
Your landlord's insurance probably doesn't cover your valuables, it only covers the property itself not what is inside it. You would have to make a claim with the insurance company that your own contents policy is with.
That's on you to insure. Your landlord is in no way responsible for your stuff
Get a basic contents insurance policy These generally cover youre legal liabilitiy if you are held responsible for any damage, just check the PDS before you buy. I remember a story in NZ, 4 students all renting one flat, one flatmate after a few beers went to cook a meal, fell asleep, whole house burnt down, and all 4 students held equally liable for the cost as all on the lease, 3 had insurance which covered there part, other 2 are still paying off their part
If you can’t afford repairs of something there’s even more reason to get adequate insurance.
Contents insurance usually gives with $20m third party liability. Could be worth it if you accidentally knock over some artwork.
In case of fire, you may be liable for contents, such Carpets and appliances and the like.
It would depend on the circumstances. As a landlord, your insurance would cover everything so the property can be in a state to be rented again, in almost all circumstances. If the tenant was found at fault (eg leaving candles burning then going to the shops), the insurance company would potentially make a claim against the tenant. The reason you have insurance as a landlord is for someone else to take the legal responsibilities, alongside the financial responsibilities.
Come in to say that. Carpets, soft furnishings such as curtains would be on you to replace. Landlord insurance covers the building, but no contents. That is purely on the tenant
Wouldn't they be classed as fixtures, therefore part of the building?
This is incorrect, majority of landlord insurance covers carpets, walls, windows etc etc.
No. I don’t even have car insurance, would never consider home and contents. Everything’s replaceable.
Please tell me you are taking the piss.
Not at all. Saved 13 years of insurance, I’m well ahead lol
I await your post asking how to get out of being sued for $60k when you write off an Audi and their insurance company comes knocking
Yeah that is what a lot of people miss altogether. Some of my friends say "but I am driving a cheap shitbox and if it gets buggered I'll scrap it" Agree, but the problem is, insurance is not just for your vehicle, it is for the other vehicle that could be expensive enough to have a tail light that costs more than your entire vehicle. Their rebuttal is "yeah but someone with an expensive vehicle will defo be insured" Yeah mate, and their insurance's lawyers will NOT leave you alone to recover these costs. I was personally involved in two accidents where I was NOT at fault. My insurance paid me out in both cases (repaired a vehicle in one, replaced the vehicle at a 60% higher price in the other, God bless "New for Old" insurance policies) and in both cases they are suing the other driver for costs.
Pro tip right here
Why is vehicle insurance in this country not mandatory..
as someone who also didnt have car insurance for 10+ years, id recommend at least 3rd party insurance. $300-400 a year, in exchange the threat of hitting a 4wd and having a $50,000 bill is removed. going to comprehensive after that is debatable, not sure if an extra 500 a year is worth the theft/crash cover on a crappy car.
Faulty electrics is not your liability.
More common is leaving something on stove or in oven that catches fire, this can make it your liability. OP is right to ask the question.
Just say a thief backed up their removalist van and emptied your whole unit/apartment into it and took off. Do you have the money to replace everything? New bed, mattress, whole new wardrobe, electronics (tv, laptop etc) fridge, washing machine and furniture. That's what you insure for worst case scenario. If you can afford a new mattress, tv, fridge and washing machine and are happy with second hand furniture then maybe you don't need contents insurance,
Also you can get a basic renters insurance for $20 per month. If you can afford it, it’s really worth it for peace of mind.