Home insurance: protect your belongings
As a tenant, it's important to protect yourself and your belongings, even when living in student accommodations. A home insurance policy can provide you with peace of mind in case of unfortunate events such as accidents, fire, or burglary.
What is home insurance?
Home insurance is an umbrella term for various types of insurance policies that protect your home and its contents. The two main components of home insurance are home contents insurance and buildings insurance
Home contents insurance covers damage to your personal belongings, such as furniture, electronics, and clothing, resulting from events like fire, theft, or other incidents. On the other hand, buildings insurance covers damage to the structure of the home itself, including fixed elements like walls, floors, and the roof
In addition to these, there is also liability insurance, which protects you from financial liability for damages to others or their property. Some insurance providers include liability insurance as part of a home insurance policy.
What type of home insurance do you need?
If you live in a rented student room, studio, or apartment, you usually don't need buildings insurance as it is the landlord's responsibility to have that coverage. As a tenant, you only need to consider contents insurance and liability insurance.
Home contents insurance is essential because you have valuable possessions in your student accommodation, such as a laptop, furniture, and other items. In the event of a fire or burglary, contents insurance provides financial compensation to repair the damages or replace your belongings. With 178 burglaries, 608 fire reports, and 2064 accidents per day in the Netherlands, having contents insurance is a wise choice.
Liability insurance is also crucial to check, especially if you share a home with housemates. Accidentally causing damage to their property or common areas can happen. For example, dropping and breaking your housemate's phone. In such cases, liability insurance covers the costs of the damage and prevents financial disputes among housemates.
What are the costs of home insurance?
The cost of home insurance can vary depending on factors such as the value of your contents, the location of your student accommodation, and the type of coverage you choose.
Generally, home insurance policies are reasonably affordable, especially for students. Premiums can range from tens to hundreds of euros per year, depending on your personal circumstances.
How do I get home insurance?
Arranging home insurance is straightforward and can be done online. There are several insurance providers offering home insurance, so it's advisable to compare different insurance companies. When comparing policies, consider the coverage, premiums, and any deductibles or excesses.
To apply for home insurance, you will need to provide basic information, such as your personal details, the value of your contents, and information about your student accommodation. Once you have provided all the necessary information and paid the premium, you will be covered by the home insurance policy.