Unlike what happens with other insurances, such as car insurance, hiring home insurance is not mandatory, but it is highly recommended, since the losses that could occur in our home could have expensive consequences. If we do not have it contracted, it will have to be our own pocket that supports the derived expenses. Now, if it is a rental house, who should pay it: the landlord or the tenant?
To answer this question, it is better to analyze before the basic coverage that any home insurance can offer us:
- Continent: covers all the constructive and structural elements of a building or dwelling or, what is the same, all those materials that are part of the construction of a dwelling: structures, walls, roofs, floors; installations such as water and gas pipes or electrical wiring; or the parquet, the moldings and the painting of the walls. The insurer will pay for the repairs of the damages caused by fire, theft, water, etc.
- Content: covers furniture and household goods, such as appliances, electronic devices, works of art, etc. the insurer will pay for the repair or replacement of the same.
- Civil liability: Covers the reparations and indemnities that the insured has to pay to other people for the damages caused by them. Now with the homeowners insurance for rental property cost the options will be much better.
The owner must insure the continent of the home and, therefore, this insurance will be paid by the landlord. If you want to protect from possible damage all those objects of your property that are inside the house that you have rented, if that is the case, you can also contract a home insurance for the content. The same applies to civil liability, a guarantee that is made vital and ‘obligatory’ importance to possible damages to third parties. Advisable options for you are now.
The Essential Part:
For its part, it is highly advisable for the tenant to secure the contents of his property (clothing, books, computer, furniture, etc.), as well as his own civil liability: the damages that, although accidentally, produce on the property of others. A fire caused by an electrical appliance or a badly closed tap can cause serious damage to the home itself or to neighboring homes. If the tenant is a claimant, the owner’s policy will not cover it and, if the tenant does not take out liability insurance, any compensation made by the owner’s insurer will be claimed later.
As experts that we are in the field of rent, we want to urge home and tenant to meet the needs that correspond to each one. In this way, conflicts between both parties will be avoided, and landlord and tenant will be protected and, above all, calm