If you’re a tenant in a rental property, even if you don’t own the building you live in, do you still need insurance?

As a tenant, there are two forms of insurance that you should consider:

• Contents Insurance
• Tenants’ Liability Insurance

Let’s look at each of those in turn.

Do Tenants Need Contents Insurance?

You might not own the property you live in. But you probably own a lot of stuff within that property. As a tenant, you don’t need building insurance. If your house or flat is robbed, or if there’s a fire or a flood, then your landlord’s insurance should take care of any repairs or renovations that the building might need.

But you’ll still need contents insurance to cover you for any loss or damage to your own property.

How does Contents Insurance for Tenants Work?

A contents insurance policy for tenants can give you a cash settlement for your personal property. Some insurers might also offer to replace your property on a like-for-like basis.  

Some policies will offer additional cover for personal possessions you can take out of your home. So if you leave your phone on the bus, for example, your contents insurance policy could cover you for a replacement.

There is another major benefit of tenants’ contents insurance. Did you know that if your rental property is damaged by fire, flood, or theft, then your landlord is under no obligation to find you a place to stay? But contents insurance can also cover the cost of alternative accommodation while you wait for the damage to get repaired.

Does Content Insurance Cover Accidental Damage?

Your contents policy can also offer cover for accidental damage that goes beyond manufacturer guarantees. For example, very few product guarantees will cover you if you accidentally spill a glass of water on your mobile phone or laptop. But in this case, your contents insurance can cover you for any accidental damage, so long as it happened in your home.

What is Tenants’ Liability Insurance?

If you cause any damage to your rental property, then your landlord will most likely expect you to pay for any repairs. Tenants’ liability insurance can cover you for the cost of repairs to your landlord’s property. Leaving your rental property in good condition is essential if you want to get your deposit back.

So as well as saving you money on costly repairs and replacements, tenants’ liability insurance can help you ensure you don’t lose out when you vacate the property too.

Your tenancy agreement should outline the parts of the rental property for which your landlord considers you liable. This might include fixtures, fittings, carpets, soft furnishings, white goods, appliances and, if you live in furnished accommodation, furniture. Your tenants’ liability insurance will cover you for accidental damage to any part of the property for which you’re liable.

Is it a Legal Requirement to Have Tenants Liability Insurance?

It’s not a legal requirement to get tenants’ liability insurance. However, some landlords may refuse to sign a contract with you unless you get this sort of cover. The good news is that it’s never too late to take out a tenants’ liability insurance policy.

Even if you’ve been renting the property for months, or even years, then you should still be able to get cover.

Please note, though, that tenants’ liability insurance policies will only cover accidental damage. They don’t cover for general wear and tear, and they don’t cover for intentional or malicious damage.

So What Insurance Do You Need as a Tenant?

To sum up, if you’re renting, you shouldn’t need buildings insurance. Your landlord’s insurance should take care of any damages to the building itself. However, you should get tenants insurance to cover everything inside the building – both your own property, and your landlord’s property.

To cover your own property, you’ll need contents insurance. To cover your landlord’s property, you’ll need tenants’ liability insurance.

At Hazelton Mountford, we offer tenants’ liability insurance cover as part of a contents cover policy.  We’ll also provide you with alternative accommodation, to ensure that you’ll always have a roof over your head, no matter what happens.

Our tenants home contents insurance policies start at as little as £9 per month. Get in touch to get a free quote online in minutes.