Chubb Insurance Australia has teamed up with Rent.com.au to distribute Renter Cover, a home-contents insurance product specifically designed for renters, starting this year's first quarter.
Rent CEO Greg Bader said the new product combines Chubb's insurance expertise and Rent's knowledge of renters.
“Renters are a significant group,” Bader said. “According to research conducted by rent.com.au, around 30% of the Australian population use rental accommodation. However, 55% of Australian renters do not have their contents insured – and in the 18-39 age bracket, that number climbs to 73% uninsured.”
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