4 March 2019

Sharing a home ... What kind of insurance do I need?

What a step forward! You are moving into your first home. And you’ve chosen the fun and comfort of a shared home. Will you need insurance? It’s not a requirement... but strongly recommended!

As a joint tenant, you are not required to take out home insurance or fire insurance. Landlords generally include that cost in the rental contract. But if you feel that is limiting your freedom, a home insurance offers you a lot of peace of mind. In the case of a shared home, a single home insurance contract needs to be taken out to insure the shared home, and it covers all the joint tenants

Did you know?

You may have heard of home insurance and fire insurance. In fact, these two terms refer to and cover the same thing.

Insurance against what?

The basic principle is simple. As a joint tenant, you must leave the rental property in the same condition as when you moved in. Did you cause any damage during the period of the lease? A frying pan left on the stove, a tap left running, a broken window, a door that slammed... These things can happen easily! Either you pay for the repairs yourselves, or you make a claim on your home insurance. 


To determine your insurance needs, you can do a check-up on our site.

Home insurance: what kind of coverage?

Home insurance covers a certain minimum number of risks, established by law. Think for example of fire, natural disasters or explosions. “Standard” risks, such as water damage and broken windows, are also covered by most home insurance policies.

This does not mean, however, that your insurance covers absolutely everything. So take a close look at the coverage offered by your insurance. If necessary, you can choose additional coverage.

Material damage

Building: Yes

Contents: None

Damage to your belongings

Building: None

Contents: Yes

Legal assistance in case of damage

Building: Yes

Contents: Yes

What extra insurance is available?

Insurance against theft

Building: None

Contents: Yes

Personal liability insurance

Building: Yes

Contents: Yes

How to calculate the value of items to be insured?

As a joint tenant, your home insurance covers your tenant’s liability, that is to say, any damage you may cause to the rental property (fire, water damage, etc.). It also covers damage that may affect your contents, that is, your furniture, personal effects, your clothing, etc.

The home insurance premium you pay is calculated using various formulas, specific to each insurer. The best formula is the one that calculates the value based on the exact number of square metres to be insured.  

And as for the contents? Our inventory (in French) can help you: on it you can list the estimated value of your personal effects. This gives you an excellent overview of the contents of your home. This list will also help you avoid problems in case of damage. Be sure to keep all your invoices and other proof of purchase in a safe place. That way, you can prove at any time what objects belong to you!

Do you have a piece of design furniture or work by a young artist? You can choose to insure it at fair value!

Please note:

Be aware that your landlord has his or her own home insurance for the building. For your part, you and your fellow tenants are free to choose your own insurer. That means your landlord cannot compel you to take out your home insurance from his or her insurer. 

Want to know more?

Are you looking for the home insurance policy that best fits your needs? Take a look at ING Home Insurance for tenants. It offers you customised coverage: the premium is calculated based on the number of square metres to be insured, and you can apply online. You will be covered immediately and can use a 24/7 helpline in the event of damage!