Home insurance for renters

Rental insurance, also known as tenant insurance, is an insurance policy that can guarantee some of the benefits associated with home insurance and is specifically designed for those who rent a home. Specifically, it provides liability insurance for the tenant's personal property, covering the risks of theft and vandalism, and against fire, flood, storm, subsidence, accidents, and explosions that may in any way damage the tenant's property. It also pays the bills in the event the home becomes uninhabitable (some policies pay for alternative accommodations during repairs). Since this type of insurance primarily aims to protect the tenant from damage and loss to their personal property by providing liability coverage that excludes the dwelling, this policy is significantly cheaper than a policy for the building's owners, who are not responsible for the tenant's personal belongings.

To better understand the coverage offered by home insurance, it's important to understand the different components and the guarantees and protections they offer. If you rent a home, it's not your property: if a wall or part of the structure collapses, the owner will have to repair it. As a renter, you'll only have to ensure the protection of your personal belongings.
The main types of home insurance cover different residential and non-residential areas: buildings, their contents, or specific combinations of both. A policy dedicated exclusively to buildings protects the structure of the home, including permanent fixtures, bathrooms, and modular kitchens, as well as other types of buildings, such as storage rooms, sheds, and garages. Contents insurance covers all property included in the home: the items most often protected are appliances, furniture, clothing, jewelry and watches, televisions, and various electronic devices. Combined property and furniture insurance combines both in a single policy.

Of course, depending on the different contractual options offered by each insurance policy, there can be many combinations of coverage, as well as a number of add-ons that you can obtain as extras. But let's focus more on the basic coverages offered, after which we can expand the discussion to additional coverages.

What protections does renters insurance include?

Theft : In the event of theft and removal of personal property from the home, it is always possible to request a refund of its value.
Fire : In the event of a fire and damage to your home, you can recover the costs of its replacement.
Pipe Burst and Water Leaks : If you suffer water damage due to a pipe burst or other leak, you can claim the cost of your property.
Storms : In the event of damage caused by storms and other weather events, the costs of damaged contents may be recovered.
Floods : Insurance covers the value of your belongings in the event of flood damage.
Ground subsidence : If damage occurs to the building's foundations, affecting the property inside, the value of the insured items is covered.