Fire insurance is as important to a tenant for an owner, it allows everyone to protect its interests.
Why take out fire insurance as a tenant?
1 / Protect your tenant liability
The tenant must cover his tenant liability. Indeed, as a tenant you are obliged to return the dwelling in the condition in which you received it, even if there was a disaster.
In case of damages, the responsibility of the tenant is automatically engaged. So you've got to take out fire insurance !
Although fire insurance is not mandatory, most leases require tenants to purchase this insurance. The owner and the certainty that if damage is caused to his property, they will be covered by the tenant's fire insurance.
2 / Protect your property as a tenant (content)
You want to certainly protect your furniture and other belongings in case of fire, water damage, natural disasters, etc.
Fire insurance protects your contents against damage and / or loss. You can also take out additional insurance in theft of your fire insurance.
3 / Cover your responsibility to third parties
A citizen is responsible for the damage it causes to third. Fire insurance allows you to insure your vis-à-vis third parties, such as neighbors. You are as responsible tenant automatically if for example there is a fire in you unless you can prove otherwise.
For example: If a fire occurs in your home, all those who have suffered damage (neighbors, motorists parked near you ...) can turn against you. Your fire insurance will compensate all those people but also to pay you in order to do the necessary work.
What is the value to be offered by fire insurance for the tenant?
Most insurers use for the building, the same evaluation form for the owner. The only difference is that the insured value will be 20-30% lower. As a tenant, you must insure the actual home value (replacement value less obsolescence).
If you are not the only tenant of the house (renting an apartment in a large building), insurers use a simplified version and provide an amount equal to 20 times the annual rent (including charges). This rule prevents the risk of underinsurance.
What about the fire insurance for the owner?
The owner can also take a « waiver insurance » against the tenant.
Looking fire insurance as a tenant?
Fill the fire quiz listed under the button "free quote". We will offer you a fire insurance that best suits your personal situation.