Why you need them and how they help you
Bond is money that a landlord can ask tenants to pay as security when they move into a property. The Bond is held by Tenancy Services and can be used to cover unpaid rent, damage to the property or any claim relating to the tenancy. If you’re a tenant and you properly look after your property, and pay your rent in full, you should get your bond refunded after you move out.
Why You Need Contents Insurance
Just because you are renting and it is not your own home …
You need insurance to cover your household contents. A household contents policy will also cover any damage done to the carpets. It is also strongly recommended that you have insurance that will cover you for any damage done to the property.
The landlord will only insure the property (e.g. the physical buildings and the section)
Warning for tenants: contents insurance an absolute must
NZ Herald Article