Is renters insurance a thing in Australia?

Yes, renters insurance is a thing in Australia, called renters contents insurance or tenants insurance, and it is recommended for anyone renting house, unit or apartment, covering contents and liability. Renters insurance in Australia covers your personal belongings like furniture, electronics, clothing, jewellery against theft, fire, storm, flood and accidental damage, with sum insured $20K to $80K typically, costing $300 to $600 per year or $25 to $50 per month, from insurers like NRMA, Allianz, Budget Direct, AAMI, Youi and Bupa. It also includes public liability $10M to $20M if you accidentally damage rental property like kitchen fire or flood bathroom, which landlord can claim against you for repair costs $5K to $50K, and personal liability if visitor injured in your rental. It does not cover building, which is landlord's building insurance. Many landlords and real estate agents require tenants to have renters insurance or at least liability cover as condition of lease, especially for high-end properties. Renters insurance is especially important because landlord's building insurance does not cover tenant's contents. For example, if fire destroys rental unit, landlord's insurance covers building, but your $30K furniture and laptop not covered without renters insurance. Some policies include portable contents cover for items away from home like laptop and phone. So yes, renters insurance exists in Australia, is affordable $300 to $600 per year, and is wise for renters to protect belongings and liability.