Found yourself a new house or apartment? All set to move? Now’s the time to arrange your security deposit and property insurance online with KBC Brussels. It couldn’t be easier!
What is a security deposit?
A security deposit protects the owner from costs should the tenant damage the property or not pay the rent as agreed.
The security deposit is not a legal requirement. However, most property owners want one and therefore have a clause to that effect included in the rental contract.
Why take out property insurance as a tenant?
Property insurance is not compulsory by law. However, when you are renting somewhere, we recommend that you take out tenant's liability and home contents insurance in order to avoid having to pay the cost of any damage yourself. Under tenancy laws, tenants are presumed liable for any damage to the home. In most cases, the landlord requires you to take out property insurance by means of a clause in the rental contract.
We also recommend insuring your personal property (including furniture, clothing, computer, etc.) against damage. Suppose you arrive home one day only to find your house flooded because you forgot to turn off one of the taps before leaving. In this case, we will cover both the damaged home contents and your liability for water damage caused to the home.