More than half of Australian property renters are foregoing contents insurance, research has indicated.
Those renting Australian property are filling the homes with valuable items, but over half are not insuring them against fire, flood, damage or theft, research has indicated.
A survey from Newspoll for the insurer GIO, up to 52 per cent of renters are not protecting valuable items such as iPods and LCD televisions.
The most common reason cited for not gaining insurance was the cost, with 56 per cent of renters without cover claiming they cannot afford to protect their contents.
In addition, 14 per cent of renters said the value of their possessions was not worth insuring.
GIO executive manager of distribution Shaun Feely commented: "Australian renters are finding the cash to furnish their homes with the latest technology and comforts, but there is not the same enthusiasm to invest in protecting these assets."
Home rents are likely to increase by four per cent in 2010, the Australian Property Monitors' Quarterly Rental Report revealed earlier this year.
Those renting Australian property are filling the homes with valuable items, but over half are not insuring them against fire, flood, damage or theft, research has indicated.
A survey from Newspoll for the insurer GIO, up to 52 per cent of renters are not protecting valuable items such as iPods and LCD televisions.
The most common reason cited for not gaining insurance was the cost, with 56 per cent of renters without cover claiming they cannot afford to protect their contents.
In addition, 14 per cent of renters said the value of their possessions was not worth insuring.
GIO executive manager of distribution Shaun Feely commented: "Australian renters are finding the cash to furnish their homes with the latest technology and comforts, but there is not the same enthusiasm to invest in protecting these assets."
Home rents are likely to increase by four per cent in 2010, the Australian Property Monitors' Quarterly Rental Report revealed earlier this year.
