3.6.4 Property Insurance
Home insurance covers the physical building and in many cases the fixtures that form part of a building of your property against loss or damage caused by fire, storms, earthquake, impact damage and more. You only need to purchase home insurance if you are the owner of the property. If you are renting, your owners should consider how they can protect their premises.
Renters or tenants insurance covers you for loss of contents in your home from fire damage or theft. The owner of the property should be fully insured against any damage to the property itself.
Home Contents Insurance
Home contents insurance covers the contents of the home that you own against theft, fire, breakage, and other unforeseen events. It doesn’t however cover items that are regarded as part of the property.
As most policies depend on the type and location of property as well as security features in the property, you will only start shopping around for contents insurance after you have found a home to buy.