Renting for longer does not reduce the value of the belongings inside a home. Furniture, clothing, appliances, electronics and home-office equipment can take years to build up and may be expensive to replace after theft, fire or another insured event. A landlord usually protects the building; a tenant generally needs separate cover for possessions they own.
Renting for longer does not reduce the value of the belongings inside a home. Furniture, clothing, appliances, electronics and home-office equipment can take years to build up and may be expensive to replace after theft, fire or another insured event. A landlord usually protects the building; a tenant generally needs separate cover for possessions they own.
For South Africans saving towards homeownership, an uninsured contents loss can redirect savings into replacement costs or debt. Protecting current assets is therefore part of the same financial plan as working towards a future deposit.
FNB analysed Statistics South Africa's 2025 General Household Survey and found that the share of renting households increased from 21.9% in 2019 to 25.8% in 2025 - about 1.4 million additional renter households. Mortgage-linked ownership declined from 7.5% to 6.3%, while fully paid ownership fell from 57% to 53%.
These figures describe a wider shift in housing tenure. They do not mean every renter has the same finances, but they show why tenant-focused insurance information is increasingly important.
A renter should consider cover for personal belongings kept at the rented home and for valuable items carried elsewhere. Home contents insurance generally covers eligible possessions at the insured address against specified events. Moveables cover may be needed for items such as a laptop, cellphone or camera when they leave the home. Exact protection depends on the coversheet and policy wording.
Usually not. Building insurance generally protects the structure and permanent fixtures owned by the property owner, such as walls, the roof and fitted installations. It should not be assumed to cover a tenant's furniture, clothes, appliances or electronics.
The lease can allocate responsibilities for glass, damage, maintenance or liability, but a lease obligation is not the same as insurance cover. Tenants should read the lease, ask what the landlord has insured and confirm their own protection separately.
Miway home contents insurance is designed for eligible possessions kept at the insured home. Depending on the selected cover, policy terms and cause of loss, this can include items such as furniture, clothing, appliances and electronics after specified events.
Cover is not automatic for every incident. Security requirements, excesses, limits, exclusions and claim evidence can affect an outcome. Power-surge, accidental-damage or weather-related protection should be confirmed from the current coversheet and policy wording rather than assumed.
Standard contents cover is centred on the insured address. Portable possessions may need Miway moveables cover or another specified option when they are used away from home. Ask whether individual items must be listed, what value applies and whether territorial, security or unattended-vehicle conditions apply.
Use the total current replacement cost of all eligible contents, not the amount originally paid and not only the value of obvious high-ticket purchases. A room-by-room inventory should include clothing, linen, kitchenware, furniture, televisions, computers, tools, sporting equipment and smaller items that add up.
If the total sum insured is lower than the full replacement value, proportional underinsurance may reduce a qualifying claim. Use Miway's home asset audit checklist and review the amount after major purchases, gifts, a move or a change in household composition.
· Assuming the landlord insures the tenant's possessions.
· Insuring only expensive electronics and forgetting everyday household items.
· Using old purchase prices instead of current replacement costs.
· Failing to specify portable valuables used away from the home.
· Not updating the address, security details or occupancy information after moving.
· Keeping too little proof of ownership for a future claim.
Photograph each room and keep receipts, serial numbers, valuations and warranties in secure cloud storage. After an incident, prioritise safety, report crime to the police where required, prevent further loss when safe and notify the insurer promptly. Do not dispose of damaged property or authorise major work before receiving instructions unless an emergency makes action necessary.
Review Miway's household insurance claims FAQs and claims process before an emergency so that contact details and evidence requirements are easy to find.
· Ask the landlord what the building policy covers and read the lease responsibilities.
· Complete a room-by-room contents inventory at current replacement value.
· Identify portable items that regularly leave the home.
· Confirm security requirements, excesses, limits and exclusions.
· Update the insurer before or immediately after a move, as required by the policy.
· Keep photographs and ownership records away from the insured premises.
Renting changes ownership of the building, not ownership of the tenant's belongings. The right question is not whether the home is rented; it is how much the contents would cost to replace and which policy sections protect them at home and elsewhere.
A clear inventory, accurate replacement value and suitable contents and moveables cover can help protect current financial progress while a renter continues working towards longer-term goals. Terms, conditions, limits and exclusions apply.
Renters do not insure a building they do not own, but they should consider home contents insurance for personal belongings and moveables cover for eligible items used away from home.
Usually not. A landlord's building policy generally protects the structure and permanent fixtures, while a tenant normally arranges separate cover for furniture, clothing, appliances, electronics and other possessions.
It may cover eligible household possessions against specified events such as theft, fire or certain weather damage, depending on the selected cover, policy wording, security requirements, limits, excesses and exclusions.
Moveables cover protects eligible portable possessions when they are taken away from the insured home. Items may need to be specified individually, and territorial, security and unattended-item conditions can apply.
Create a room-by-room inventory and use the current cost of replacing eligible items with new equivalents. Include clothing, kitchenware, furniture, electronics and smaller possessions, not only major purchases.
Underinsurance occurs when the total sum insured is below the full replacement value of the contents. Depending on the policy, a qualifying claim may then be reduced proportionally.
Personal and employer-owned equipment may be treated differently. Confirm ownership, business use and the applicable policy section with the employer and insurer instead of assuming ordinary contents cover applies.
Keep room photographs, receipts, serial numbers, warranties and professional valuations where relevant. Store copies securely away from the home so they remain available after theft, fire or severe damage.
Review cover after moving, buying or receiving valuable items, changing security, adding a home office or when replacement costs rise. Tell the insurer about material changes as required by the policy.
Prioritise safety, report crime where required, limit further loss when safe, record the damage and notify the insurer promptly. Follow the claims instructions and keep damaged items until the insurer advises otherwise.
