Is content insurance worth it?

Is contents insurance worth it in Australia, yes for most renters and homeowners it is worth it because it protects personal belongings worth $30K to $150K against theft, fire, storm, flood and accidental damage for relatively low cost $300 to $800 per year. For example, average 3-bedroom house contents value is $80K to $120K including furniture $20K, electronics $15K, clothing $15K, appliances $10K and jewellery $5K, without contents insurance you bear full loss if fire destroys house, which can cost $80K to replace, while contents insurance costing $400 per year covers replacement new for old up to sum insured. For renters, landlord building insurance does not cover tenant contents, so renters insurance $300 to $500 per year covers $30K to $50K contents plus $10M to $20M public liability if you damage rental property like kitchen fire $10K to $50K. Contents insurance also covers portable items like laptop and phone away from home if portable cover added, and theft from car. Without contents insurance, average theft claim $5K to $10K and fire claim $50K. For low income, $30 per month is affordable for $50K cover. Many Australians underinsure, with average underinsurance 30%. So contents insurance worth it for protection of belongings and liability for $25 to $50 per month, especially for renters, unit owners and anyone with valuables, as replacement cost high and risk of theft 200K burglaries per year in Australia.