Do Apartment Renters Need Home Insurance?

Caeva O'Callaghan | December 1st, 2023

I Rent An Apartment – Do I Need Home Insurance, And What Type Do I Need?

If you rent an apartment, you may be paying a service charge. But does this mean you need to purchase your own home insurance?

Yes, you need home insurance if you rent an apartment. But this only needs to include contents insurance. You do not need your own buildings cover, as you don’t own the building.

However, you’ll find that any service costs you pay will be going towards buildings insurance.

This is because you share the building’s structure with other tenants. The maintenance of the building is the responsibility of the freeholder or management company.

Read on to discover answers to questions such as:

  • Do renters have to buy home insurance?
  • What home insurance do I need if I rent an apartment?
  • Will I need buildings insurance if I rent my apartment?

When you rent an apartment, you won’t have to pay for everything you would otherwise in a standard home. But landlords have to pay for insurance somehow, and often you will be asked to contribute.

Do Apartment Renters Need Buildings Insurance?

If you live in a leasehold apartment, you may find out your building has what is called a “block insurance” policy. This is a type of cover which protects the building and structure from the normal perils such as fire, flood and storm damage. This policy is usually held by the management company, or freehold owner.

Of course, if you buy your flat to rent out, this landlord will be you. You’ll need to look into purchasing specialist landlord insurance to protect your apartment from the extra risks associated with having tenants living in your property.

Renters have rights when it comes to the insurance on where they live. Whoever owns your apartment building needs to provide you with evidence that the property has the proper insurance in place.

If this is the case, you will probably be paying for this buildings insurance as part of the service charge. On the other hand, you might be directly arranging it with your landlord. Check the policy carefully to ensure you’re happy with the terms.

Do Apartment Renters Need Contents Insurance?

If you rent your apartment, you will definitely need your own contents insurance. This is in addition to any buildings insurance your landlord has over the building itself.

But what makes up contents? A good general rule to follow is that if you turned your apartment upside down, contents will include everything that falls out.

Everything permanently fixed in your house has insurance under the buildings cover. This includes sinks, toilets, windows, doors, and walls. But your personal belongings, your furniture and your upholstery are contents.

This means if something goes wrong with the structure of your building, such as a fire or flood, the landlord will need to claim on their insurance. And, if your belongings suffer damage in the incident, you will need to claim on your contents insurance.

It’s important to get your own contents insurance as an apartment owner, because contents cover what you care about most. Your electronics, clothes, sentimental belongings and everything else all fall under contents. If you don’t have contents insurance, you may lose everything and not get a penny towards repair or replacement.

What about Furnished Apartments?

Even if you rent an apartment which includes furnishings, you will need contents insurance. This is to cover everything you bring into the apartment, even if it’s the bare minimum. If you move in with only one bag, a laptop and the shirt on your back, you will still want to insure these items against risks.

If your landlord is renting out the apartment fully or part furnished, this means they should have contents insurance in place. This policy will cover all furniture and items present when you move in. If the furniture is lost or damaged in a fire, for example, you will need to contact your landlord so they can make a claim.

It’s possible that you rent your apartment part furnished because the previous tenant left items there, and the landlord didn’t care to remove them. Or, they may ask you if you want such items left, and you said yes because you didn’t have your own furniture.

Check with your landlord to see if this is the case, because if they pass on these items to you they count as your property and you will need to insure them under your own policy.

Give us a call to get advice on your rental policy, and any questions you need to ask your landlord before you sign. We can help you find contents insurance to fit your needs and budget.

If you are renting an apartment and need insurance call us in for advice

If you are renting an apartment at the moment and have any questions on what the best options are for you when it comes to home insurance, call us any time between 8.30am and 5.30pm each weekday on 0818 224433 or 042 9359051. We can go through all the options that are available to you and help find the right policy for your set of circumstances.

If you want to compare the market with an instant home insurance quote online, use our quote system which compares insurance from 13 different providers. We look forward to helping you today.

All Information in this post is accurate as of the date of publishing.