What You Need to Know About Home Insurance for Tenants

If you are among the 20% of Irish people renting a house or apartment in Dublin, there are a few things you need to know about protecting yourself and your property. But you’re just renting, you say?

Yes, home insurance is not just for homeowners, it covers renters and their property as well. It is known as contents insurance and can protect you in the event of fire or catastrophe. If you think it will cost too much then you should search best Ireland insurance provider online to compare home insurance quotes and find the one which suits your budget.

Your landlord has insurance, but it doesn’t cover your belongings.

Your landlord has insurance on the property if something ever happens. That is good, right? Yes. But the insurance covers the property buildings and structures but it does not cover the contents, meaning your personal belongings.

If the unit is destroyed by a fire, the landlord will be compensated and the tenants may be given temporary housing but there is no compensation for the loss of your family treasures, photos, laptops, TVs, photography equipment and things that have taken you years to acquire. So you can understand how important it is to insure your house.

What qualifies as ‘Contents’?

Basically, contents are everything you own and the stuff you would take with you if you moved. That includes your bed, bedding, clothing, dishes, and etc.

What kinds of things does renters insurance cover?

Renters insurance normally covers damage from fire, storms, flooding, and burglary. So if a thief breaks in and steals your TV or computer you can be reimbursed for those items under the renter’s insurance. If the building catches on fire and your unit is destroyed, the landlord will be covered by his property insurance and your renter’s insurance will cover your personal property losses so both parties receive compensation.

What are accidental damages?

This is a nice little added bonus. Accidental damages are when your property is accidentally damaged by someone, even if it was you. You accidentally spill wine on your brand new imported rug, it will cover you. Or you get paint on your brand new couch, you’re also covered. The amount you receive will depend on how much insurance you have and the value of the item. These are the most common reasons for home insurance claims in Ireland.

How much coverage do I need?

Just as an estimate, make a list of everything you own. That new camera you bought last year, jewelry, electronics like your laptop, TV, gaming system…everything. Then figure out how much that stuff would cost if you bought it today. Remember that some things will depreciate, so just an average of what the cost would be.

Is Renters’ Insurance expensive?

Prices vary based on your individual needs and having that peace of mind is important for any renter. The nice thing is that it covers things that you might not even have thought of like the food in your fridge or freezer or the contents of your shed or garden tools. To figure out your individual cost, get a home insurance for calgarians quote from the website.

Interested in contents insurance?

If you live in Dublin, Cork or Galway and don’t currently have home insurance for tenants you definitely need to get it. Peace of mind comes from the knowledge that if a fire broke out or your house was robbed, your personal belongings could be replaced because you were covered by insurance.