Home owners and Tenants
This is insurance to protect private homes. It combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
It requires that at least one of the named insureds occupies the home.
It is a multiple-line insurance, meaning that it includes both property and liability coverage, with an indivisible premium i.e. a single premium is paid for all risks.
The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional riders—additional items to be insured—are attached to the policy.
If the purchase of the private residence has been financed, this insurance could very well be required as a pre-condition of financing by the lending institution.
As a tenant, you aren’t covered by your landlord’s contents insurance policy or home insurance policy. This means that in the event of a fire, flood, theft or household damage, you as a tenant are expected to pay for repairs from your deposit, and suffer the loss of your own belongings.
This is why rented accommodation insurance is essential; it protects your possessions against the unexpected.
What’s more, as standard, we also provide you with tenants liability cover for accidental damage as well as public liability for your guests or visitors to the property you rent in the case of accident, injury or damage to their personal possessions.