Home insurance, often called fire insurance, is not taken out the same way depending on whether you are a tenant or an owner. This guide reviews the obligations and best practices for each situation.
Tenants: a legal obligation
In Belgium, a tenant of a dwelling is legally required to insure against fire and water damage for which they could be held liable towards the owner. This obligation is usually stated in the lease, and the owner may request proof of it every year.
A tenant's home insurance policy also covers, depending on the formula, your furniture and personal belongings against theft, water damage or fire, which concretely protects your daily life.
Owner-occupiers
If you own and live in your property, home insurance protects the building structure, fixed installations and, optionally, the contents. It is not legally compulsory, but is systematically required by the bank whenever a mortgage loan is in progress.
Without this cover, a major claim such as a fire can mean a considerable financial loss, with no compensation possible.
Landlords
When you let a property, your liability as an owner remains engaged for the building structure, even if your tenant has their own insurance. It is therefore recommended to keep an owner's policy in addition to your tenant's.
Some policies include a waiver of recourse between owner and tenant, which avoids disputes when liability for a claim is uncertain.
What a home policy really covers
A good home policy covers fire, explosion, storm, water damage, glass breakage and, optionally, theft and vandalism. Private life civil liability is often included, protecting the whole family in everyday life.
Insured amounts, excesses and exclusions vary considerably between companies, which is why it pays to compare rather than automatically renewing the same contract every year.
How LC Credins helps you
Whether you are a tenant, owner-occupier or landlord, LC Credins compares offers from several companies for you based on the type of dwelling, its surface area and the options useful to your situation.
Our digital approach gives you a clear comparison within minutes, with no jargon, a well-founded recommendation and real savings potential.
Find the right cover for your home
Tenant, owner or landlord: request a free quote and compare offers in minutes.