Home, fire and tenant liability insurance cover different things. Tenant liability is the only one that is mandatory for tenants.
Tenant liability insurance
- Coverage: damage you might cause to the building you rent, including from water, fire, electricity or storms
- Use: This insurance is mandatory for tenants.
2. Home insurance
- Coverage: generally protects both the building and its contents from fire, water damage and storms
- Use: Both homeowners and tenants can have home insurance. Tenants often add content insurance to their policy to protect their personal belongings.
3. Fire insurance
- Coverage: specifically designed to cover damage caused by fire
- Use: similar to home insurance. As a tenant, property owners might require you to have fire + content insurance, especially if it's a furnished property.