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There are two key types of home insurance: building and contents.
If you rent your home, your landlord will usually have building insurance and coverage for any items they own in the property (ie furniture), but this won’t cover your possessions.
To insure your belongings, you need renters insurance (also called tenants insurance). This will cover your possessions, such as clothes, electrical appliances, gadgets, furniture and sports equipment, from a range of risks, including fires, floods and burglary.
Tenants contents insurance is a type of insurance that you should buy if you rent your home, whether you rent from a private landlord, housing association or local authority or are a lodger in someone else’s home.
Rented house insurance just covers the possessions a tenant keeps in the property rather than the building itself. Home insurance for tenants will include everything you own and keep in the property, such as gadgets, cash, clothes, furniture and even the food in your freezer.
Renters insurance can cover the whole household if you rent as a couple or family or just your personal belongings if you rent a room in a shared house or house of multiple occupation. Tenants or renters insurance is bought as an annual policy, and it’s normally similar in cost to other home contents insurance policies.
Insurance for renters is not a legal requirement in the UK, but it’s a good idea to buy it. For a relatively small cost, you can protect your possessions for tens of thousands of pounds. Burglaries are a common crime, and thieves can quickly steal your belongings, but break-ins aren’t the only thing insurance will protect you from. Your possessions might also be damaged by leaks, floods or fires.
Hopefully, none of these things will ever affect your home, but tenants insurance can give you peace of mind. Some policies will also protect your stuff while it’s out of the home, which is handy if you lose your mobile or your bike is stolen.
A comprehensive tenants contents insurance policy will normally cover the following:
| As standard | Optional extras |
|---|---|
| Clothes | Accidental damage |
| Furniture | Possessions taken out of the home |
| Gadgets | Bikes |
| Jewellery | Specified items above a certain value |
| Sports equipment | Legal expenses cover |
| Electrical appliances | Items in a shed or garden |
| Food in the freezer | |
| Cash | |
| Musical instruments |
Your belongings will be covered against damage, loss or theft from events such as the following:
Most policies include tenants liability insurance, which covers renters if they accidentally damage the rental property or the landlord’s contents within it (eg furniture).
All insurance policies have things that aren’t covered, which are known as exclusions. Common exclusions from tenants insurance include the following:
| Cars and other vehicles | Should be covered by motor insurance |
|---|---|
| Wear and tear | Involves damage from regular use |
| Items lost accidentally | Should be covered by gadget insurance |
| Negligence | Includes theft by a guest or as a result of an open door or window |
| Items over a specified limit | Must be listed separately on the policy |
| Homes left unoccupied | Normally for 30 or 60 days |
| Business contents | Covered by business insurance |
| Sports/camping equipment while in use | Should be covered by the owner |
| Electrical item breakdown | Covered by warranties/extended warranties |
| Items owned by the landlord | The landlord’s responsibility |
| Items left unattended in public | If you leave your phone in a pub, for example |
There are several optional extras you can buy with renters insurance, including the following:
According to MoneySuperMarket, renters insurance can cost as little as £5 a month. However, premiums will vary depending on factors such as the following:
Tenants liability insurance protects renters if they – or their guests – damage the rental property. This includes the building itself and its fixtures and fittings. It’s normally included as standard on renters insurance, but be sure to check.
Yes, contents insurance is the same as renters insurance. When you buy a policy, the insurer or price comparison site will ask if you’re the homeowner or renter. Some homeowners – such as leaseholders in a block of flats – will only need contents insurance, while others might buy building and contents insurance as a combined policy.
Renters insurance will come with a single-item limit. If you own any item worth more than this, you’ll need to list it separately on the policy for it to be covered.
Students can buy renters insurance or student insurance for the contents of their rooms. Some student possessions might be covered by their parents’ home insurance policy.
