Do I Need Home Insurance for a Rented Property?
Caeva O'Callaghan | March 16th, 2020
If you rent your home, you’ll still need home insurance to cover you in the event of burglary, fire or flood. Protecting your belongings is your responsibility, so read on to find out how.
If you don’t own the home you live in, this doesn’t mean you don’t need home insurance. There’s more to home insurance than the structure of your house. So, it’s important to make sure your belongings and furniture are covered as well.
In this article, we’ll answer questions like:
- Do I need home insurance if I rent my home?
- What does home insurance cover?
- Will my landlord’s insurance cover damage?
Your landlord’s insurance should cover most things that can go seriously wrong with your property, but you also need to have insurance of your own.
What you’ll need to cover
As a tenant, you’ll only need contents cover. Buildings insurance is a requirement of your landlord, as they own the property and things like fixtures and fittings.
Simply put, anything you move in with is your responsibility to insure. Anything that’s already there – such as the walls, doors, taps or certain appliances – is your landlord’s.
A standard contents only home insurance policy will cover things like furniture, clothes, jewellery, electronics and other belongings. If you lose them in an unforeseeable event, your insurance will help pay for replacement or repair.
You always need to be upfront with your insurance provider about what you own. There’s no use trying to pull the wool over their eyes and convince them you own a Picasso.
Unless you do… in which case, you probably need specialist insurance. Anything very precious or which holds a great amount of sentimental value, or otherwise irreplaceable, should be insured separately for peace of mind.
On the other hand, under-insuring will give you a huge headache if something happens. If your laptop is damaged by fire and you haven’t told your insurance provider you own it, and you haven’t kept the receipt, there’s nothing to say it ever existed. This means you’ll have to pay for a new one yourself.
What’s covered by your landlord
If your house or flat was furnished when you moved in, your landlord’s insurance will cover it. But insurance does not cover everyday wear and tear. Insurance will cover damage due to an adverse event, however. This is important to consider if your landlord is trying to contest the cause of the damage with you.
Standard home insurance doesn’t cover pet damage. Your landlord would have to take out extra cover to insure against this kind of mess. If your property is pet-friendly, they should expect more than usual wear and tear. However, it is up to you to keep your pet controlled.
If your dog has a habit of chewing the door frames or your cat likes to scratch up the carpet, you need to fix it. Prevention is better than cure, so get rid of bad habits before they cost you.
In the case of fire or flood
Floods, fire and subsidence can spell disaster for houses and flats. Cleanup may take a while, and sorting out insurance needs to be one of your first priorities.
In short, damage to the building, fixtures and structure is the responsibility of your landlord. Your landlord needs to organise repairs as soon as possible if the property is not safe. Their home insurance provider may be able to provide alternative accommodation.
Broken windows and doors, smoke damage to walls and ceilings, and ruined plumbing or electrics should have nothing to do with you. On one hand, you’re free to let your landlord sort things out. On the other hand, be wary that you might need to keep the pressure on if they’re arguing who’s at fault or making a fuss.
Bear in mind, your landlord’s insurance won’t cover any of your belongings. This is why it’s important to get contents cover for your possessions. You may lose furniture, sentimental items, appliances and electronics.
Your insurance provider should pay to repair or replace what belongs to you, after they send out a loss adjuster to make sure everything’s in order.
If you have any questions regarding Tenants Home Insurance talk to us in QuoteMe.ie
If you have questions regarding tenants home insurance, why not pick up the phone and talk to our trained insurance professionals. We have been providing advice in Ireland for over 30 years. We have seen all possible scenarios and we know all the angles for different home insurance policies. We can guide you and answer all your queries. We are available for calls between 8.30am and 5.30pm each weekday on 0818 224433 or 042 9359051.