What Does Renter’s Insurance Cover?

by Alix Carman | 5 min read   September 19th, 2019

Starting at €10* (essentially the price of a Spotify subscription), you can insure yourself and your belongings in your apartment. But it might seem a little overwhelming when trying to figure out exactly what you are (and aren’t) protected against. So what, exactly, does renters insurance cover? We’re here to help break it down.

What Does Basic Renters Insurance Cover?

The standard level of cover, “The Basics”, starts at just €10 per month*, and will provide cover in the following scenarios for up to the value of your contents insured:

Your policy will cover your possessions if they are damaged, destroyed, or stolen by a burglar who has broken into your home. Your cover includes cover for vandalism or malicious damage to your possessions.

We’ll also cover the cost of replacing stolen door key(s) to the exterior of your home.

Keep in mind: If you have extended holidays coming up, take into consideration that you aren’t covered if your home is unoccupied for over 35 days in a row.**

Your policy will cover your belongings if they are damaged in a fire, flood, storm, or explosion. This includes damage from smoke caused by faulty heaters or cooking appliances. Should the fire brigade be called out, we’ll cover charges up to €2,000.

Or, if your claim involves a fallen tree, we’ll even cover the cost of removing the tree.

Keep in mind: Smoke damage from a fireplace is not covered.

Your possessions aren’t the only thing that’s protected with renter’s insurance; you are too! Your policy will cover your liability should a visitor in your home injure themselves and file a liability claim against you.

Keep in mind: While your visitor is in your home, the belongings they’ve brought with them are also covered for up to €1,300 in respect of any one loss.

Coverage for accidental damage in a basic policy will cover only audio and audio—visual equipment (i.e. TV, sound bar, surround sound stereo system) for up to €1,300.

Keep in mind: Damage caused by pets, a weather-related event, or as a result of fitting, repairing, adjusting, or dismantling the item is not covered.**

Most claims under a basic policy apply a standard excess of €250. This means that you pay the first €250, and we pay the rest up to €20,000. Escape of water and subsidence may have a higher excess.

A More Complete Package

At an average cost of €15.08 per month, you’ll get all of the benefits of basic cover, plus cover for:

As an optional extra, you can get cover all of your possessions for accidental damage, not just your audio and TV equipment, with no limit! Enjoy a glass of red wine on the sofa after a long day, stress-free.

Keep in mind: Brittle items such as pottery or glass are not covered during active use or when being handled.**

As an optional extra, your belongings will be covered for up to €2,000 per item and per claim outside of the home when you’re on the go. This is known as unspecified all risks cover, and includes clothes, sports equipment, and jewellery.

Have some higher value items that you’d like to cover? As another optional extra, you can select up to 6 items to insure for up to €10,000 per item to start. This is known as specified all risks cover. For these items, you must let your insurer know what you’d like to receive coverage for out of the home. If you have products that are over the €10,000 limit, or you’d like to cover more than 6 items, you can contact us by phone after you’ve completed your quote to discuss your options.

Keep in mind: There is a limit of €20,000 on the total value of all items that you’ve selected under your specified all risks cover when you’re getting your quote done. Once your quote is complete, you can call us to discuss extending this limit.

Cover for your bike is a little bit different. It will be covered for up to €500 unless you list as a specified item, in which case the maximum it will be covered for is €5,000.

Technology may be prevalent, but we know cash isn’t dead. We’ll also cover your cash for sums of up to €765 each year – just let us know the amount.

With this benefit, there’s no excess meaning you may pay a little more each month but we’ll cover your claim if it’s is less than €2,000 for an unspecified item or up to €10,000 for a specified item (depending on the value you’ve specified).

Emergency Home Assistance

With any renter’s insurance policy, you’ll automatically get Emergency Home Assistance. This simply means that you’ll be covered in emergency situations like a burst pipe or getting locked out of your apartment for the cost of call-outs, labour, and materials 24/7/365 up to 4 times per year. All you need to do is call 01 448 48 48 for assistance any day, any time.

Limit of €300 per incident. Wear and tear or any loss or liability caused by any act carried out to provide the emergency service is not covered.

Learn more about Allianz Emergency Home Assistance.

Extra Contents Cover for Free

With any of our Renter’s Insurance policies, you’ll automatically get an extra 10% cover for your contents for Christmas during the months of December of January. You’ll also get year-round coverage for up to €400 if an item that you’ve just purchased is damaged between the shop and your home.**

Getting married? Let us know and we’ll increase your contents cover by 10% for one month before and after your wedding day of you or a member of your household.

Home working is becoming more popular. With either policy, we’ll provide cover for up to €4,000 for your computer(s), printer(s), scanner(s), and other home office equipment.

Keep in mind: Theft (or attempted theft) of new purchases from your unattended vehicle is only covered under the circumstances outlined in your policy.

The most important thing to consider when getting your renter’s insurance is the sum of contents insured, or the total value of your possessions, which you will calculate and provide to your insurer. Make sure that this number is as accurate as possible as you will only get cover for the value you provide to your insurer. To help get started, print and fill out our contents checklist to give you an idea of the value of your contents.

And remember, contact your insurer to update the value of your contents when the total value has increased or decreased to make sure that your cover is up to date.

Keep in mind that your landlord’s insurance policy won’t protect your belongings; it’s up to you to provide your own cover. With this knowledge, you can be on your way to making the best choice for a plan that suits your needs to help provide peace of mind.

Learn more about Allianz Renter’s Insurance, starting at just €10 per month*, essentially the same cost of a Spotify subscription

Allianz p.l.c. is regulated by the Central Bank of Ireland. Standard acceptance criteria and policy conditions apply.

Cover as described in this guidance is applicable to valid claims only.

*Minimum premium contents €86.10, all risks €12.60. Based on a couple renting a 2 bed apartment in Dublin 8 with €20,000 contents.

**For a full list of exclusions, please reference the Allianz Home Insurance Policy Document

Alix Carman
Helping to break down Renter's Insurance cover.