You must maintain your own insurance cover on the building, contents and public liability. If the property is a Strata unit, the Body Corporate / Owners Corporation may insure the building, but you should have contents insurance for the carpets, blinds, curtains, light fittings and any appliances inside the unit. Your Landlords insurance will also have a level of liability cover and some policies offer a loss of rental component. The tenant is responsible for their own personal effects but not for the landlord’s belongings.