What insurance do I need if I live in an apartment?

By Melanie May, September 2022


Some 8% of Ireland's population (364,243 persons) live in purpose-built apartments. Some people rent their apartments from a landlord, and some are owner-occupied. 

The type of insurance needed depends on whether you are renting or owner-occupier of the apartment. 


Renters Insurance

It may surprise you, but your landlord's insurance won't cover your items. That's right. Even though you don't own the apartment, you still need to take out your own insurance policy to cover your contents. 

If you are a tenant, Renters Insurance is an affordable way to get peace of mind about protecting your precious possessions from fire, storm, flood, theft and smoke damage. Accidental Damage is also available, at an additional cost, to cover those every day mishaps such as spilling coffee on your sofa. 

If you take out Renters Insurance with Allianz, you can even opt to have your day-to-day personal possessions covered when you take them outside your apartment. 

Allianz Renters Insurance also automatically covers your TV and audio equipment from accidental damage up to €1,300. It includes Emergency Home Assistance - in case you get locked out of your apartment and need to call a locksmith. 


What's the average cost of Renters Insurance in Ireland?

Allianz Renters Insurance starts from €10 a month. That's roughly the same price as buying one cup of coffee a week^. OK, we know you'd much rather spend your money on a caffeine fix, but you'll get a much better return on your investment from your Renters Insurance.

Have a read of all the great benefits and cover provided in our blog post on  Allianz Renters Insurance.

^Based on the average cost of Allianz Renters Insurance cover in Ireland for "The Basics" bundle and "A more complete package" bundle of €9.72 and €15.08, respectively.


Owner-Occupier Insurance

Before taking out an insurance policy for your apartment, it is worth checking if your management company has buildings insurance that automatically covers your apartment. If this is the case, it is likely that it will cover only the buildings, so you will need to arrange cover for your contents yourself.

Allianz content only home insurance cover comes with a range of benefits, including cover for home office equipment, increased cover over the Christmas period, and cover for loss or damage to visitors' property in your apartment. We also have a wide range of optional extras that you can add to your policy for an additional cost.


Do you need Renters , Contents or Home Insurance?

To put it simply, if you are renting your apartment from a landlord, you will need Renters Insurance to protect your possessions. If you own and live in your apartment you will need to take out a contents only insurance policy to protect your possessions, which are not covered by your management company’s building insurance. 


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

Information correct as of date of publishing. This blog will not be updated or edited so the information may become outdated.