You’ve seen countless adverts for home insurance, and they’re not something you really pay much attention to. You’re aware of the gist of what home insurance is and why it’s used, but it has little use to someone that lives with their parents and doesn’t own a home. Then, when you move out and find your own place, you start to realize that home insurance is a pretty big thing.
Naturally, if you own a property, you should insure it. However, where do the rules lie when you’re renting? Most of us rent before we buy, but do you need to purchase a home insurance policy?
Yes…and no.
Yes, you should have some form of home insurance to keep you protected when renting. No, you don’t legally need to purchase any insurance, and the level of cover you need is different from what you’d get if you owned a home.
If this is confusing to you, this short guide will make everything simpler to understand:

What is home insurance?
Home insurance covers a range of insurance products related to your property. The focal point of this insurance is to offer financial protection in the event of emergencies or unforeseen events. Typically, you get two types of home insurance:
- Buildings cover
- Contents cover
Buildings cover will protect against things like accidental damage to the building itself. This includes broken windows, a damaged roof, etc. You can make an insurance claim against these things to get money to help you pay for repairs or replacements.
Contents cover is all about your personal belongings. If they get lost, damaged, or stolen, you can claim compensation to replace them. As you can imagine, when owning a house, you can see how beneficial it is to have both types of coverage.
What about home insurance for renters?
You don’t own the place you’re living in, so…why do you need to insure it? Well, you don’t. You don’t have to get traditional home insurance with buildings cover as it is the responsibility of the landlord to care for this. If the actual structure of the property is damaged, you call them up and they deal with it.
However, you should get insurance to protect your personal belongings inside your flat or rented home. The landlord won’t cover you if your items are stolen or damaged by things like bad weather. This is where the idea of renters insurance comes into play.
Talk to a renters insurance company, and they will explain that this is basically just home insurance without the building’s cover. Your belongings become protected, so you don’t have to worry if they are stolen or damaged. Some landlords make it a requirement that you get insurance for your items, while others are more lenient.
To sum it all up, you don’t technically need home insurance when you rent, but it will be extremely beneficial and is highly recommended. If you want to protect your personal items, it’s definitely a good idea to get home insurance with the right level of coverage for them.