Cannot find Tenant Insurance

T

Therma

i am stressing out and very confused. and in my search for answer have finally stumbled here.

called multiple insurance companies including combank, and not getting a definite reply,

since i am a tenant everyone is offering me content insurance (or maximum fire/storm insurance)

but i want to be insured against any property damage. why ? because i recently bought a good sized 6by2by2 feet aquarium, and am very worried.

what if it bursts, or its sheer weight damages the wood floor ?

i would really appreciate if i know whom to insure from and what type ? want to be a responsible tennant :(
 
It's strange to see a tenant so concerned about a landlords property.

I guess you won't find a market for what I understand you want insurance for (damage to the landlords property if your property damages the landlords building) as nearly no one is concerned about this.

The way I look at it, if the acquirm damages the property (can't see how besides the carpet) then the landlord will be able to claim from his/her insurance.

I wouldn't be too worried about it. The only way I see an acqrium damaging a landlords building is with the carpet (a long shot). If you are really concerned about the carpet, put the acqiurm in a tiled area like the kitchen (if the property has carpeted kitchen, then that is bound to be ruined one day from cooking).
 
HI,

Maybe you could try an insurance broker? Not sure if it would be any good but maybe an insurance broker may have access to a number of insurance companies.

Just a thought.
 
If you are not breaking the terms of the lease agreement, and took reasonable steps to ensure no damage occurred (Ie, don't slide heavy items on polished timber, causing gouging and then pled ignorance...) then, any accidental damage would normally be covered by the owners building insurance.

There is of course, a risk of any out of pocket expenses being deducted from your bond, if necessary.

if you are really concerned, then get permission (in writing) from your PM to have said fish tank, so that in the event of some random catastrophic fishtank failure, you have a fallback position and grounds for the PM to request the landlord claim against their building insurance.
 
Therma, you might find this thread useful. In summary, in this case it came down to the tenant being covered under the landlord insurance, although landlord was not happy about that. It was also discussed that tenant should have contents and liability insurance just in case landlord then decides to sue you in which case apparently your liability insurance would cover that. Confirm all this for yourself, but that's a summary of what was discussed.

http://www.somersoft.com/forums/showthread.php?t=66312
 
Therma said:
but i want to be insured against any property damage. why ? because i recently bought a good sized 6by2by2 feet aquarium, and am very worried.

what if it bursts, or its sheer weight damages the wood floor ?
Click to expand...
As Biggles has pointed out, a contents insurance policy usually includes a public liability portion, which should cover you in the unlikely event that the landlord's insurer decided to pursue you for damage resulting from an aquarium disaster.

Simply ask your contents insurer whether the policy covers you for damage to your building caused by malfunction of your contents. And be aware that "insurance isn't insurance", which is why the recommendation to use a broker may well be wise in this instance, if you have any doubts as to whether you're covered.
 
these are the suggestions

- get conent insurance with public liability part in it. [i can find content insurance everywhere but not of liability part for residential ?? maybe i am missing it ??] [edit: found liability part as well, in the pds, still researching]


- seek insurance broker. [Didn't knew of them. Searching google brings up many many. What exactly should i ask them ? are they overly expensive ? which would you recommend ? ]


- do nothing as it will be covered by landlord policy. [but the above mentioned thread by Biggles do point to events where the landlords insurance company may attempt to intimidate the tenant, and so it is still somewhat bothersome ?]

thankyou so much everyone, but still confused. i laid these out, so that anyone with such concerns can easily find the info. just finished work. i will attempt to call and ask regarding Perp's question, what happens if my insured content cause a loss.

@Mark, aquarium = fish tank :eek:
 
Last edited:
Therma said:
i am stressing out and very confused. and in my search for answer have finally stumbled here.

called multiple insurance companies including combank, and not getting a definite reply,

since i am a tenant everyone is offering me content insurance (or maximum fire/storm insurance)

but i want to be insured against any property damage. why ? because i recently bought a good sized 6by2by2 feet aquarium, and am very worried.

what if it bursts, or its sheer weight damages the wood floor ?

i would really appreciate if i know whom to insure from and what type ? want to be a responsible tennant :(
Click to expand...

pfff really you dont sound like a tenant, let the landlord worry about it, he should have insurance, the worst that it will cost you is loss of the bond and you will end up moving :)

but seriously make sure the floor is strong enough to support that tank, a landlord would be reluctant to let you install a 650 litre tank on a wood floor, it can be done but you should probably get the floor checked and reinforced if required

when i was renting i was always worried about what if i get given notice, and have to relocate my large reef tank within a few weeks without any losses.
 
wally said:
pfff really you dont sound like a tenant, let the landlord worry about it, he should have insurance, the worst that it will cost you is loss of the bond and you will end up moving :)
Click to expand...

Nice attitidue. And what if as in Kathryn's example the landlord's insurance company comes after the tenant due to negligence? I think Therma is doing the right thing, if not for the landlord, for herself.
 
I don't know why you are still confused. You are a renter. You don't have to insure the building you are living in, just your own stuff.

Figure out the value of what stuff you have.

Call 2-3 insurance companies for a quote on renter's contents and public liability insurance. Mine is from Suncorp and it's called Home & Contents Insurance and the public liability automatically covered in the policy is $20 million.

You need to know details like how old the house is, the construction materials, whether there are deadlocks on the doors, and window accessibility.

You also need to decide whether to take out any optional extras - some insurance companies offer accidental damage (like if you dropped coffee all over your computer), injury to pet options etc.

Then you will be given an option of how much excess to pay. E.g. if you pay the first $250 of a claim you pay more in premiums that if you pay for the first $500.

If you are a member of some club, like an auto club, then you may get discount, so you need to ask how you get a discount.

Choose 1.

Buy it.
 
I think you should have discussed this with the landlord prior to obtaining the tank, or atleast installing it, seeing as though you are concerned about the damage it may do
 
Original Poster, are you sure you are allowed pets in the house? I'm wondering if this is why you are so concerned about any damage they may cause?

You will not find insurance to cover this damage on your behalf as only the owner of the property (building) is allowed to insure it by law.

Is the home on a concrete slab or suspended floorboards?
 
There's tenant specific insurance around, I don't think it's offered through an of the big insurance companies though.

There was one company I've stumbled across but I can't think of the name.
I'm pretty sure they mentioned property damage on their pamphlet. I'll see if I can get the name for you tomorrow.
 
i am confused and worried, becuase

1. i like to be responsible
2. i rather be safe than sorry


yup the landlord knows about my previous 4 foot fish tank, now bit bigger 6feet reef

actually i was not concerned till i ended up hearing a story where the poor bloke cracked his 450Litre tank. now that gives me shivers :\ and this one is a bit big so i got concerned, only after i had the tank up and running.

i had someone look under floor, a carpenter, and he said it should be ok, since there are atleast 4 joists perpendicularly under it, and since it is right next to wall and on a weight spreaded structure, it should be ok.

Amadio, Public liability does not always cover, as i just found out. So after reading some pds, (reading as many as i can, considering time constraints), for example, westpac is not right for me, since their pds states that if something bursts due to pressure, i.e floor gets damaged due to weight, they wont cover public liability, aami does not have that clause, and i was thinking of getting aami. If any one has any thoughts on this please do let me know

btw how can i determine the age of the building ?

Anyone Else In Similar Situation: "Make sure you read atleast the PDS". i hope i am not missing anything, and also that nothing bad happens :)
 
You must log in or register to reply here.

Similar threads

K
Urgent! Tenants vacating - Water damaged floor board
Replies
12
Views
2K
Scott No Mates
Scott No Mates
ComIP4Me
Tenant Insurance Vs Building Insurance
Replies
4
Views
1K
Paul@PFI
Paul@PFI
J
Tenant possibly using my BCC property as a residential service, correct precaution?
Replies
8
Views
2K
Scott No Mates
Scott No Mates
I
20 year strategy (another one)
Replies
8
Views
3K
impermanence
I
S
Journey so far - $75k salary (average), 5 years, 10 properties
2 3 4
Replies
66
Views
24K
Simon L
S
Back
Top