What Type Of Home Insurance Do I Need If I Am Renting?

Caeva O'Callaghan | August 12th, 2020

Renters need different insurance policies than their landlords. If you rent your home, you only need contents cover when it comes to home insurance. This is because your landlord owns the building.

This means your landlord needs buildings cover for the home. That will cover the structure of the house and any permanent fixtures. As you do not own these, all you need to worry about is the contents.

In this article, we’ll cover questions like:

  • What is contents cover?
  • Do I need contents cover if I rent my home?
  • What home insurance do I need if I’m a renter?

A good rule of thumb is that if you turn your home upside down, your contents will include anything that falls out. If you rent, your contents are anything which you bring with you.

Include everything you own in your contents policy

When shopping around for a contents policy, it may be tempting to try and save money by not including certain items. Don’t forget that your insurance is there to help pay for repairs or replacements should you lose these items. If you try and save money by not accurately declaring what you have, you won’t be able to replace or repair it in the event of a claim.

The first step is to go through your house and make a list of the close approximate value of everything you own. If you have a very small apartment you may be able to do this off the top of your head. However, it’s always worth doing a physical walkthrough just to be safe.

You may be surprised. Often, your contents policy will cover a larger amount than you were expecting. This is fine. Do not try to lower the cost of your insurance by leaving your laptop or works of art off the contents policy. If there’s a fire or flood, you will not have the money to repair or replace them.

What does a contents policy cover?

If you rent your home, your contents policy will cover anything you bring with you. Contents does not include the structure of your home, its fixtures or fittings. This is fine, as that falls under your landlord’s responsibility to insure.

If you moved into a furnished home, your landlord should have a contents policy which includes those items which aren’t yours. If you have to give them back at the end of your tenancy, they fall under your landlord’s remit. But if they included furniture which they no longer want, and you are now the owner of those items, you need to include it under your contents policy.

A typical contents list may include the following:

  • Household goods – e.g. appliances such as televisions, cookers, fridge freezers and vacuum cleaners
  • Electronics – e.g. laptops, phones, games consoles and hairdryers
  • Furniture – e.g. beds, sofas, tables and shelves
  • Furnishings – e.g. curtains, carpets, rugs, lampshades and cushions
  • Valuables – e.g. jewellery, watches, works of art and signed memorabilia
  • Personal belongings – e.g. shoes, clothes, accessories and toiletries
  • Money – e.g. cash, cheques, premium bonds and travel tickets

Contents risks

Whereas risks to buildings include subsidence, flood and storm damage, contents can be damaged and lost by many more means. Theft, fire, flood and accidental damage are all insurable risks, so it’s good to know what’s included.

Check your contents policy carefully, so you know exactly what kind of risks your belongings are protected against. This could include:

  • Damage to or theft of belongings in the home (up to the insured sum noted in your schedule)
  • Theft or damage to conten in outbuildings (up to €5,000)
  • Fire Brigade charges (up to €2,000)
  • Smoke damage
  • Escape of water

Do you have a cleaner, nanny or other domestic employee? Or do you often have members of the public visiting your rented home for work purposes? Your contents only policy should cover you for public and employer’s liability.

This means if anything should happen to a member of the public or a domestic employee while in your rented home, you’ll have cover.

As always, it pays to check your individual policy. Get in touch with us today and we’ll be able to find the perfect policy for you.

If you are renting, and have any queries regarding your home insurance talk to us in QuoteMe.ie

If you are looking for home insurance policy as a renter, feel free to pick up the phone and call and talk to our home insurance experts. We can help you understand what is covered under policies for renters. We are available by phone between 8.30am and 5.30pm each weekday on 0818 224433 or 042 9359051.

If you would like an instant home insurance quote online, input your details into our online quote system. We compare home insurance in Ireland from 12 insurance companies to get you the right cover for your situation.  We look forward to helping you.

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