What types of insurance do you need as a tenant?

Mandatory insurance

Until recently, tenants were often not legally required to purchase fire or property damage insurance for their rental home. Nevertheless, most lease agreements included a standard provision requiring tenants to purchase fire insurance.

With the introduction of the Flemish Residential Lease Decree, the situation has changed, and both tenants and landlords are now required to take out insurance covering fire and water damage. This means that if you entered into a residential lease agreement in Flanders after December 31, 2018, both you as the tenant and the landlord will now be required to take out such insurance.

Useful insurance policies

In addition to purchasing mandatory insurance that covers fire and water damage, it is also recommended that tenants consider other types of insurance.

HOME CONTENTS INSURANCE

Home contents insurance is insurance that covers potential damage to your household belongings. Household belongings refer to all movable property in your home. In other words, this includes everything in your home that isn’t permanently attached.

As a tenant, you can declare the value of your personal belongings and have them insured.

Generally, home contents insurance covers damage caused by fire, vandalism, or water damage.

THEFT INSURANCE

Theft coverage is often an option included with fire insurance. Theft coverage can certainly be useful. It covers the value of items stolen from your home, as well as damage to the home and its contents caused by a break-in or vandalism.

FAMILY INSURANCE

Liability insurance, also known as homeowners' insurance, is a type of insurance that covers damage you cause to your home or to third parties.

Imagine you’re visiting friends and accidentally knock over an expensive vase, which also leaves a deep scratch in the hardwood floor. In the event of such an accident involving a third party, you’re no longer left holding the bag and can avoid a financial headache.

Family liability insurance covers damage caused by you, a family member, or your pet to third parties (any person who is not a member of your family). Under the Civil Code, you are legally obligated to compensate victims in the event of bodily injury and/or property damage. Family liability insurance provides coverage for this.

LEGAL ASSISTANCE

Legal assistance is an option you can add to another insurance policy. Just as many people have added legal assistance to their auto insurance, it’s not a bad idea to do the same for your home insurance. After an accident, disputes can always arise. It can even go so far that the at-fault party refuses to reimburse your expenses following the incident. At that point, you’ll need to take further action. In the event of legal costs, the policy covers the fees of a lawyer.