Why you may need contents or landlords insurance

When you live in a strata or community corporation, the common/shared areas are already covered by your body corporate’s residential strata insurance. This is mandatory insurance that covers the building and common property of strata title properties.

However, your personal property & liability within a your own unit are not covered by your strata insurance, so resident owners and investor owners must take out their own insurance to cover these risks. If you are a resident owner you need separate contents insurance, and if you are an investor owner you need separate landlords insurance.

As the name suggests, contents insurance covers the contents of your home. It protects you against the damage or loss of your personal possessions in a range of circumstances, including theft, malicious damage, fire, flood, storm, earthquake, lightning, riot and explosion. Legal Liability cover is also included for $30,000,000, which is designed to provide cover for your public liability. Household items are usually automatically covered, but you will need to itemise and value any expensive items such as jewellery or art works.

Download CHU Contents Insurance PDS here to ensure this cover is right for you.

A comprehensive contents insurance policy will often also include:

Contents

  • Furniture and furnishings
  • Carpets, floor rugs, lino
  • Blinds and curtains (internal)
  • Household goods and electrical items
  • Relocatable light fixtures
  • White goods
  • Clothing and personal items
  • Children’s toys
  • Above-ground spas and swimming pools (and accessories)
  • Items used in a home office or surgery
  • Permanent fixtures not forming part of the Strata building

Landlords insurance covers property owners who are renting their property to tenants. It covers the property and contents from damage caused by events such as fire, flood or storms. It also protects you against a number of risks that normal home and contents policies do not cover, including theft by tenants, malicious damage of your property, loss of income if tenants default on their rent, and legal expenses if you need to take action against a tenant. Legal Liability cover is also included for $30,000,000, which is designed to provide cover for your personal liability as the owner of the unit.

Download CHU Landlords Insurance PDS here to ensure this cover is right for you.

A comprehensive landlords insurance policy may include:

Contents

Cover for accidental loss or damage to your contents that occurs during the period of insurance.

Building damage

This covers damage or loss to the windows, doors, floors, walls, ceilings and fixtures of your property, as a result of: vandalism or malicious acts; theft (including damage caused by theft) which has been caused by your tenants (if such damage is not covered by any insurance policy effected by the Body Corporate on the building containing your property).

Loss of rentable value

Covers loss of rentable value if the property cannot be occupied due to loss or damage caused by a covered event.

Your Excess Waived

If you & your Body Corporate both make an admitted claim for the same event and they have a CHU Residential Strata Policy

Speedy repairs

If your property incurs damage in conjunction with building damage, it will be repaired quicker with initial building repairs

Online 24/7

CHU Contents Insurance and Landlords Insurance can both be purchased quickly and easily, online 24/7

Easy Claims with Fix It

The CHUniverse app and Fix It allows you to submit a claim in a few taps of your finger. Available for download from the App Store & Google play

Get a competitive quote from CHU

CHU is a market leading insurance provider (acting on behalf of QBE). Strata Data has partnered with CHU to bring you competitive policies to give you peace of mind for your property. CHU is the largest insurer of strata/community managed buildings in Australia.

CHU contents insurance covers the cost of repairing or replacing your household and personal possessions in the event of loss or damage, and CHU landlords insurance covers damage to the contents of your property and includes carpets, light fixtures, built-in robes and cupboards. Gain peace of mind that your property will be looked after if the unexpected occurs, and get a quote from CHU today.