Who pays home insurance when renting?

Whether you are the landlord, or the tenant renting a property, knowing your responsibilities when it comes to home insurance is key to avoiding any problems should issue arise further down the line.

All properties should have insurance to ensure you’re covered in the event something goes wrong or disaster strikes. But what insurance do you need if you’re renting a property?

Your landlord has the responsibility of ensuring they have buildings insurance cover, as a tenant this is not something you need to be concerned about, or pay for. Buildings insurance will cover the building for structural damage, damage to the exterior of the building, fixtures and fittings, the heating system, and the water system. These are under the landlord’s responsibilities, and therefore it is up to them to have the appropriate cover.

However, as a tenant, it would be sensible to ensure you have contents insurance . This allows you to cover your personal possessions within the rented property. Personal possessions will cover things like your clothes, your electronics, furniture and more. With a wide range of policies available, some insurers will also cover items which you take out of the house.

With each policy, features will or will not be included and you should get the best cover to suit your needs. Don’t need to be insured outside of the home? Make sure it isn’t included and it could save you money. Also, ensure that your contents cover accurately covers the value of your belongings. If it’s lower than you need, you may not be able to claim for all your possessions, higher and you’ll be wasting money on your premiums.

Finally, it’s worth checking whether your policy covers accidental damage to the property. Remember if you damage the property, the landlord doesn’t have to cover it, it’s your responsibility. This could be anything from damaging a carpet, to breaking a wall. If you’re not covered, you’ll need to pay up. It could even come out of your deposit when the time comes to move out.

If you need some help finding the right home insurance for you, whether buildings insurance, contents insurance or both, give our team at Call Wiser a call today and they’ll help you find the policy to fit your needs, and at the best price. Call us on 0333 003 3270.

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