While the owner is responsible for insuring the actual house,unit or apartment a renter lives in,any possessions inside a property should be insured by the tenant themselves. So,whilerenters don exactly need house insurancewhen renting,they do need coverage for their stuff via contents insurance,also sometimes called renters?insurance.
People also ask
Do I need insurance when renting a property?
While it not a legal requirement to take out any form of insurance when renting a property, it often a wise idea. Landlords will have cover in place to protect their property (buildings insurance) but this won cover your belongings and personal items. As a tenant, it likely you檒l need many layers of protection for your home.
Does renters insurance cover theft and damage to rental property?
However, landlord and homeowners insurance policies typically only cover the rental property building and not a tenant personal property if stolen or damaged. Requiring tenants to carry renters insurance can be a huge relief for them in the event of theft, damage or an accident.
Who is responsible for insurance when renting a house?
Whatever type of renter you are, your policy will insure against theft, vandalism, or damage by fire or water. If you檙e renting the whole home, whether solo, with your partner or as a family, your landlord will be responsible for insuring the physical building.
What does a renters insurance policy cover?
A renters insurance policy typically includes three types of coverage: Personal property coverage. This generally covers the cost of repairing or replacing a tenant belongings in the event of theft or damage. Liability coverage. This will cover a tenant if they are found liable for injury to another person or damage to another person property.