When renting a property, insurance may not be the first thing on your mind. Many tenants assume responsibility lies solely with the landlord. However, statistics reveal a different story: in Europe, around 30% of housing claims involve rental properties, while 40% of tenants who suffered losses from fire or flooding had no insurance cover. In Cyprus, extreme weather events such as storms, floods, and earthquakes have increased by about 20% over the past decade, making tenant’s insurance not a luxury but a vital safeguard.
What Is Tenant’s Home Insurance?
Tenant’s home insurance protects your personal belongings and provides liability cover in case of damage or loss while living in a property that you do not own.
It is generally divided into two categories:
- Landlord’s insurance: Protects the building structure.
- Tenant’s insurance: Covers personal items, losses, and liability for damage you may cause to the property or third parties.
Why Is It Important For Tenants?
- Protecting Your Belongings: The total value of personal possessions in a typical household (appliances, furniture, clothes, electronics) often exceeds €20,000–30,000. These are not covered by the landlord’s policy, but only by tenant’s insurance.
- Liability Protection: If you accidentally cause damage, such as a washing machine leak flooding the flat below, repair costs may run into thousands. Across Europe, water damage makes up 35% of household insurance claims.
- Cover For Natural Disasters: With climate change, natural hazards are on the rise. In Cyprus alone, damage caused by heavy rainfall and flooding in 2021 exceeded €5 million, according to insurance reports.
- Temporary Accommodation: If your home becomes uninhabitable after fire or flooding, many insurance plans cover the cost of alternative accommodation, sparing you unnecessary stress and expense.
Trust Insurance “Home Shield” – A Complete Solution
The “Home Shield” Insurance plan from Trust Insurance is one of the most comprehensive property insurance programmes in Cyprus.
Key Features Include:
- All-Risk Cover: Protects both the building and its contents (furniture, appliances, valuables, even cash), in Cyprus and abroad.
- Optional Accidental Damage: Additional cover for unforeseen mishaps.
- Flexible Packages: Options to insure the building, contents, or both.
- Protection Against Natural Hazards: Fire, earthquake, flood, storm, lightning, leaks, and fuel spills.
- 24-Hour Emergency Technical Assistance: Plumbing and electrical faults, locks, broken glass and more.
Key Points To Check In Tenant’s Insurance
- Don’t rely on the landlord’s cover: It only protects the structure.
- Ensure disaster protection: Flood, earthquake, and fire cover is essential.
- Shared responsibility in apartment blocks: Damage to communal areas may also fall on tenants.
- Combine insurance with security/protection systems (detectors, alarms) for possible discounts or better terms.
FAQs
- Is tenant’s insurance mandatory?
No, but it is strongly recommended for protecting your assets and responsibilities. - Does it cover water leaks?
Yes – leaks and water damage are typically included in Home Shield cover. - What about natural disasters such as earthquakes or floods?
The Home Shield plan provides cover for earthquake, flood, storm and more.
Conclusion
Tenant’s insurance is not just optional – it is essential protection. With the Home Shield plan from Trust Insurance, tenants in Cyprus can access one of the most comprehensive insurance solutions available, covering not only theft and damage but also natural disasters, leaks, and 24-hour technical support. Whether renting temporarily or long-term, tenant’s cover gives you peace of mind, security, and financial protection.
Sources:
- Insurance Europe – Household Insurance Claims Reports
- European Environment Agency (EEA) – Climate Risk Data for Southern Europe
- Insurance Association of Cyprus – Housing Damage Statistics
- Eurostat – Housing And Household Statistics
