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Tenant liability covers your insured liability in relation to the home you rent.
Contents insurance protects your personal belongings against the insured risks listed in your policy.
Private liability insurance covers certain damage that you accidentally cause to other people in your private life.
These three forms of protection are different and can complement each other.
You rent an apartment.
A fire occurs and damages the kitchen.
If your liability as a tenant is established, the first question is who will pay for the damage to the property belonging to your landlord.
This is where tenant liability insurance may respond, subject to the terms and conditions of the policy.
You accidentally leave a pan on the stove.
A fire starts and damages the kitchen.
The main insurance question is:
who covers the damage caused to the rented property?
That is primarily a tenant liability issue.
Now take the same fire.
Your own belongings are also damaged:
Tenant liability does not automatically compensate you for these items.
For that, you need to check whether your contents are insured.
SWINZ currently combines Tenant Liability and Contents cover within its main package, subject to the policy limits and exclusions.
Now imagine a completely different situation.
You are visiting friends and accidentally damage something that belongs to them.
Or your child accidentally causes damage to another person.
This is no longer a risk connected with the rented property.
Private liability insurance may respond to this type of event, depending on the applicable policy conditions.
The SWINZ package includes Private Liability cover.
If insured damage affects the apartment or house you rent and your liability as a tenant is engaged, Tenant Liability is the cover to check.
If your furniture, clothes, electronics or other personal belongings are damaged by an insured event, Contents insurance is the relevant cover.
If you accidentally cause damage to another person in your private life, Private Liability is the cover to check.
If a water leak from your apartment damages another property, several covers may be involved depending on the circumstances, including liability towards third parties and the relevant home insurance cover.
Theft is not automatically included in contents insurance. You need to check whether Theft cover is included or available as an option.
What about theft?
Contents insurance does not automatically mean that theft is covered.
Theft is a specific insured risk and may require separate cover.
With SWINZ, theft is not part of the basic Tenant Liability & Contents cover and is available through separate optional Theft cover.
This is a good example of why you should always look at both: what is covered and what is not covered.
Instead of asking:
“Do I have home insurance?”
ask:
Check your tenant liability.
Check the contents section.
Check private liability.
Check exclusions, limits, deductibles and optional covers.
A water pipe bursts in your apartment.
It damages:
One incident may therefore involve:
This is why the name of an insurance product tells you less than the actual scope of its cover.
Tenant liability, contents and private liability do not protect the same things.
A good insurance assessment looks at them separately and then considers how they work together.
Discover the different covers and check which ones are relevant to your situation.
