If you’re renting a property, you’ll need to protect your belongings with the right cover. Here’s a guide to home insurance for tenants.
It’s a type of home contents insurance that’s designed for tenants who are renting a property. It covers your possessions and can protect them from theft and damage caused by fire and flood.
It covers everything from your clothes and jewellery, to electrical items, furniture and cash.
You don’t need tenant insurance legally, but it will protect you financially if your belongings are stolen or accidentally damaged.
Your landlord is responsible for getting landlord insurance which covers the property itself and any furnishings that come with it, but your personal belongings aren’t covered on their policy.
There are a few things that can affect the price of your insurance policy including the:
If you have any individual items worth over the maximum single item limit e.g. €1,000 you’ll need to declare them.
This is where you get rewarded with a discount if you don’t make a claim for a consecutive number of years. The amount of discount you get goes up each year that’s claim free, until you reach the maximum level - around 50%.
You can pay extra to protect the no claims bonus that you’ve built up, so if you then had to claim, you’d still keep your discount.
You shouldn’t scrimp on the level of cover you need but here are some ways you can save on your policy:
If you live in shared accommodation, you need to tell the insurer who else you’re living with, to avoid any future claim not paying out.
For more tips on making your cover cheaper, here are 7 ways to save on your home insurance.
You need to make sure that the cover you get matches your needs. For example, if you want any items to be insured away from the property, make sure you add this.
Don’t guess the value of your possessions because if you over value them, you’ll only get back what they’re actually worth, or a new replacement in a claim.
Check the details and then check again. You have 14 days to change your mind if you aren’t happy with the terms of the cover you’ve bought.
For more help on choosing the cover you need, read our guide on: How to get the right home insurance cover.
It only takes a few minutes to find a cheaper deal and start saving.