Is contents insurance mandatory?

There are some situations where it’s mandatory to have different kinds of insurance cover – for example, mortgage lenders will require you to have home insurance in place – so you might be wondering if it’s compulsory to have contents insurance too. 

In short: no, contents insurance isn’t mandatory. Whether you’re flatting, renting, or living in a home you own, there’s no legal requirement for you to have contents insurance. However, if your stuff currently isn’t insured, you should seriously consider getting contents insurance – you might be surprised at how affordable it is, and at how expensive it could be to repair or replace your things if they were lost, damaged or stolen. 

Do I need contents insurance if I’m flatting or renting? 

It’s totally up to you whether or not you get contents insurance while you’re flatting or renting, but it’s a good idea to at least research how much it costs and how it could benefit you. Even if you think you don’t own much, or your stuff isn’t worth enough money to bother insuring it, contents insurance can also protect you in case of accidental damage to other people’s property. 

Generally speaking, contents insurance covers you against loss, damage or theft to your personal possessions and valuable items. Your insurer will pay to repair them where possible, or replace them. MAS contents insurance has some other benefits that might appeal to flatters, like offering new-for-old replacement, including cyberbullying cover, covering your contents wherever they are in Aotearoa New Zealand, and having no excess on personal health items like glasses and contact lenses.

Is my landlord legally obliged to have insurance?

If you’re renting a house or flat in Aotearoa New Zealand, your landlord is likely to have home insurance for the property. Landlords need to provide insurance information, including what policies are held and what the excesses are, as part of any new tenancy and when insurances change. 

However, your landlord’s insurance won’t cover your belongings as a tenant, so you should consider taking out your own contents insurance to make sure you’re covered if anything happens to your stuff. 

Your landlord’s insurance is also unlikely to cover any damage to the property if it’s caused by you or a guest of yours being careless. In this case, you could need to pay the cost of the damage, up to a limit of four weeks’ rent or your landlord’s insurance excess – whichever is lower. MAS contents insurance includes cover for your legal liability if you cause accidental damage or loss to the property of others (such as the place you’re renting). 

How much contents insurance cover do I need? 

The amount of contents insurance cover you need will depend on the value of your belongings. 

When you get contents insurance, you decide on a total figure you want your belongings to be insured for, and it can be surprising how quickly this adds up. While you’ve probably thought about the cost of replacing your laptop, phone or bike, you might not have considered the total cost of replacing absolutely everything you own in the event of something like a flood or fire – down to things like your bedding, your kitchen equipment, or your makeup. 

Check out our contents value calculator to help you figure out how much your things are worth. If you already have contents insurance, it could be worth working out if the value of your contents have changed since you got it, as that will affect how much you pay too.

Get a MAS contents insurance quote today.