Renters insurance
| # | Post |
|---|---|
| 1 | If your household belongings are low value and you don’t have contents insurance do you need to have renters insurance - a young neighbour is just moving in and has been told she will need insurance - if for example her dryer caught fire - it’s out in the shed can’t fit in the house - she would be liable for the shed - the landlords insurance company would sue her - is this correct - gerry64 - 2021-07-20 13:02:00 |
| 2 | No the tenants liability is limited for accidental damage to the landlords excess. Although lots of questions as to whether it’s safe to have a dryer in a shed! Edited by sparkychap at 1:22 pm, Tue 20 Jul sparkychap - 2021-07-20 13:22:00 |
| 3 | https://www.tenancy.govt.nz/starting-a-tenancy/new-to-tenanc kitty179 - 2021-07-20 13:44:00 |
| 4 | It is wise to have contents insurance anyway, not just for her own items, but her liability in general. This isn't restricted just to her landlord's property, but any third party's property she might damage (ie. she might ding her shopping trolley into a vehicle in the supermarket). #2 is almost correct, the tenant is liable for the cost of damage up to four weeks’ rent or the insurance excess, whichever is lower. Some Landlords are now applying voluntary/higher excesses on their houses. rhys12 - 2021-07-20 13:45:00 |
| 5 | Thank you all for your help - yes I agree it’s not ideal for the dryer to be in the shed but my other neighbour has vented it for her - the landlord wouldn’t allow the dryer in the house as he claimed it will result in mould forming - the washing machine and tub are in the bathroom gerry64 - 2021-07-20 14:36:00 |
| 6 | For the drier to be put in the bathroom, it would have to be properly vented AND hard wired into a wall outlet and a certain RCD relay/fuse installed on the mains board. ( I guess the washing machine might be like this too, i dunno ) marte - 2021-07-20 18:46:00 |
| 7 | All the years I rented before becoming a home owner, I always had contents insurance. Once my daughter was flatting while at uni, I also made sure she had contents insurance as well. Now she is working she has continued with it. joanie04 - 2021-07-20 20:34:00 |
| 8 | joanie04 wrote: headcat - 2021-07-20 21:20:00 |
| 9 | headcat wrote:
Lol yeah right! I have around $80-90k contents for much, much less than that. If you are paying that much, you are being massively ripped off. rhys12 - 2021-07-20 21:38:00 |
| 10 | joanie04 wrote:
Yes I did too, and now I would probably get Renters' Insurance. If you do the listing (and value) of what you have accurately, it is a relatively small cost in the scheme of things. If you break it down to a weekly cost in the budget preparation you will see this. Most insurance companies allow it to be paid for weekly. fortnightly or monthly. It is a good idea to have a separate account for fixed and important costs to come from like keeping a roof over one's head, rent & insurance etc. shanreagh - 2021-07-21 09:09:00 |
| 11 | rhys12 wrote:
Agree with this. shanreagh - 2021-07-21 09:10:00 |
| 12 | headcat wrote: fromnature - 2021-07-26 09:23:00 |
| 13 | Daughter pays around $7 per week for her contents insurance. I think we upped it to $20,000 cover. $88 per week covers my house, contents, car and risk protection plan. We both put the money aside into a special account to cover the annual premiums. The risk protection is paid monthly. joanie04 - 2021-07-26 20:26:00 |
| 14 | She may think she doesn't have much stuff and it isn't worth much but if something were to happen like a fire or a flood, can she replace it or would she have to join all the other people begging on givealittle because they made bad life choices and chose not to have insurance? annie17111 - 2021-07-27 07:25:00 |
| 15 | annie17111 wrote:
If you are referring to my daughter, she does not own a lot. Just started work two years ago after studying. Will get her to do a "stock take" shortly. joanie04 - 2021-07-27 21:05:00 |
