Renters insurance vs. contents insurance: What’s the difference?
For anyone currently searching for cover to protect their belongings, the terms renters insurance and contents insurance may seem familiar. Indeed, both will pop up in an online search when looking for insurance for your personal items.
The terms are often used interchangeably and they are very similar. However, there is an important difference you should know about: while both provide insurance for your personal belongings, renters insurance is designed specifically for tenants. That is, it covers renters’ personal belongings and furnishings at a leased out property.
Contents insurance can also be taken out by homeowners. So, a homeowner can take out building insurance to protect the actual doors and windows in their home and contents insurance to protect the belongings inside their home.
Some differences with renters insurance
Broadly speaking, renters insurance and contents insurance offer the same cover. One of the only differences is that some renters insurance will offer cover for accidental damage done to any fixtures or fittings in the place you are renting. An example of this would be if you dented your living room door by accident.
With renters insurance providers will also sometimes offer a lower cost version that protects you solely against fire and theft. Although this may be a more cost-effective option, it is important to remember that this type of cover is more basic. In other words, you want to make sure that you don’t wind up being underinsured.
Besides these and a few other nuances, renters and contents insurance are very similar in what they actually cover.
What does contents insurance cover?
As mentioned above, contents and renters insurance alike provide cover for your personal belongings. This usually includes items such as:
- Furniture
- Whitegoods
- Electronic equipment, e.g. laptops, computers, TVs
- Clothing
- Jewellery
Exactly what items are covered will vary from policy to policy, so make sure you double check what the inclusions and exclusions are before signing on the dotted line. If you have a particularly pricey item to insure, you may have to take out additional cover.
Keen to start getting quotes for your prized possessions? Head to Mozo’s compare contents insurance page to see what policies are on offer right now, or check out the deals below.
Compare contents insurance - rates updated daily
Contents Insurance
- Main events covered
Fire
Theft
Storm
FloodOptional Extra
- Monthly payments
cost extra
- Yes
- Underinsurance protection
- No
- New for old
replacement
- Yes
- General contents
- Yes
- Cash
- Up to $800 in total
- Cd dvd and electronic files
- Up to $3,000 combined with computer software
- Computer software hardware
- Hardware yes, software up to $3,000 combined with CDs/DVDs
- Camera and accessories
- Yes
- Carpets
- Yes
- Antiques and valuables
- Up to $5,000 per item for artwork, up to $12,000 in total, up to $2,000 for collections
- Jewellery
- Up to $1,000 per item or set, up to $5,000 in total
- Replacement of documents
- No
- Tools of trade
- Up to $2,000
- Contents while moving
- Up to 20% of sum insured
- Lock replacement
- Up to $1,000
- Temporary accommodation
- Up to 10% of sum insured, up to 12 months. Combined with temporary accommodation for pets.
- Debris removal
- Up to 10% of sum insured combined with emergency storage
- Demolition cost
- No
- Accidental loss and damage
- Optional Extra
- Accidental breakage of glass
- Yes
- Lightning
- Yes
- Earthquake
- Yes
- Storm surge
- No
- Buildings and structural improvements
- No
- Building materials
- No
- Landscaping
- No
- Gates and fences
- No
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Budget Direct Contents Insurance
Everyday Comprehensive Home and Contents Insurance
- Main events covered
- Fire
- Theft
- Storm
- Flood
- Monthly payments
cost extra - Yes
- Underinsurance protection
- No
- New for old
replacement - Yes
- General contents
- Yes
- Cash
- Up to $500
- Cd dvd and electronic files
- $1,000 per item, up to $5,000 per collection
- Computer software hardware
- $1,000 per item, up to $5,000 per collection
- Camera and accessories
- Yes
- Carpets
- Yes
- Antiques and valuables
- $1,000 per item,. up to $5,000 per collection
- Jewellery
- $1,000 per item,. up to $5,000 per collection
- Replacement of documents
- Up to $1,000
- Tools of trade
- Only Home Office contents, up to $5,000
- Contents while moving
- Yes
- Lock replacement
- Up to $1,500
- Temporary accommodation
- Up to 12 months, up to 10% of sum insured
- Debris removal
- Up to 10% of sum insured combined with demolition cost
- Demolition cost
- Up to 10% of sum insured combined with debris removal cost
- Accidental loss and damage
- Yes
- Accidental breakage of glass
- Yes
- Lightning
- Yes
- Earthquake
- Yes
- Storm surge
- No
- Buildings and structural improvements
- Yes
- Building materials
- Yes
- Landscaping
- Up to $1,500
- Gates and fences
- Yes
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Huddle Everyday Comprehensive Home and Contents Insurance
Contents Insurance
- Main events covered
- Fire
- Theft
- Storm
- Flood
- Monthly payments
cost extra - Yes
- Underinsurance protection
- No
- New for old
replacement - Yes
- General contents
- Yes
- Cash
- No
- Cd dvd and electronic files
- Yes, excludes electronic files
- Computer software hardware
- Yes
- Camera and accessories
- Yes
- Carpets
- Yes
- Antiques and valuables
- Yes
- Jewellery
- Optional Extra, choose $0 to $100,000
- Replacement of documents
- No
- Tools of trade
- Optional Extra, up to $1,000 per item , up to $5,000 in total
- Contents while moving
- Up to 20% of sum insured
- Lock replacement
- Up to $1,000
- Temporary accommodation
- Up to 12 months, up to 12% of sum insured
- Debris removal
- No
- Demolition cost
- No
- Accidental loss and damage
- Optional Extra
- Accidental breakage of glass
- Yes
- Lightning
- Yes
- Earthquake
- Yes
- Storm surge
- No
- Buildings and structural improvements
- No
- Building materials
- No
- Landscaping
- No
- Gates and fences
- No
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Youi Contents Insurance
Home & Contents Insurance
- Main events covered
- Fire
- Theft
- Storm
- FloodOptional Extra
- Monthly payments
cost extra - Yes
- Underinsurance protection
- Optional ExtraUp To 25% Of Sum Insured
- New for old
replacement - Yes
- General contents
- Yes
- Cash
- Up to $800
- Cd dvd and electronic files
- Up to $3,000 combined with computer software
- Computer software hardware
- Up to $3,000 combined with CDs/DVDs
- Camera and accessories
- Yes
- Carpets
- Yes
- Antiques and valuables
- Up to $5,000 per item for artwork, up to $12,000 in total, up to $2,000 for collections
- Jewellery
- Up to $1,000 per item, up to $5,000 in total
- Replacement of documents
- No
- Tools of trade
- Up to $2,000
- Contents while moving
- Up to 20% of sum insured
- Lock replacement
- Up to $1,000
- Temporary accommodation
- Up to 10% of sum insured, up to 12 months. Combined with temporary accommodation for pets.
- Debris removal
- Up to 10% of sum insured combined with demolition cost and emergency storage cost
- Demolition cost
- Up to 10% of sum insured combined with debris removal cost and emergency storage cost
- Accidental loss and damage
- Optional Extra
- Accidental breakage of glass
- Yes
- Lightning
- Yes
- Earthquake
- Yes
- Storm surge
- No
- Buildings and structural improvements
- Yes
- Building materials
- Up to $1,000
- Landscaping
- No
- Gates and fences
- Yes
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Virgin Money Home & Contents Insurance
Comprehensive Cover
- Main events covered
- Fire
- Theft
- Storm
- Flood
- Monthly payments
cost extra - Yes
- Underinsurance protection
- No
- New for old
replacement - Yes
- General contents
- Yes
- Cash
- Up to $500
- Cd dvd and electronic files
- Up to $1,000 per item, up to $5,000 in total
- Computer software hardware
- Yes, hardware. Software, up to $1,000 per item/collection up to $5,000 total.
- Camera and accessories
- Yes
- Carpets
- Yes
- Antiques and valuables
- Up to $1,000 per item or collection, up to $5,000 in total
- Jewellery
- Up to $1,000 per item or collection, up to $5,000 in total
- Replacement of documents
- Up to $1,000
- Tools of trade
- Up to $2,000
- Contents while moving
- Up to 20% of sum insured
- Lock replacement
- Up to $1,000
- Temporary accommodation
- No
- Debris removal
- Up to $15,000
- Demolition cost
- No
- Accidental loss and damage
- Yes
- Accidental breakage of glass
- Yes
- Lightning
- Yes
- Earthquake
- Yes
- Storm surge
- No
- Buildings and structural improvements
- No
- Building materials
- Yes
- Landscaping
- No
- Gates and fences
- No
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Woolworths Comprehensive Cover
*Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
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