No, property insurance is not compulsory by law. However, if you are a tenant, we recommend that you take out tenant’s liability and home contents insurance, to avoid having to cover these costs yourself. If you decide to take out property insurance, the insurer is required by law to cover a minimum number of risks, including, fire, storm, hail and natural disasters.
When you take out property insurance, you often have a number of optional forms of cover to choose from, so it is important that you state which types of cover you require. If, for example, you require legal assistance in disputes with your landlord, you can extend your cover to include ‘Legal assistance insurance for tenants’.