Tenants insurance, commonly known as renters insurance in the UK, covers people who rent a home against loss or damage to property which is kept in the rented residence. In South Africa, however, tenants insurance is irrelevant. Whether you rent a property or own your home, your short-term household contents insurance is your own responsibility. The main difference between insuring your own residence or contents of a rented home is that cover for the physical structure of the building is the owner's responsibility. When deciding on renting a residence, it is wise to consider whether the house has a thatch, is situated in a secure area and has burglar bars. All these factors will influence your monthly premium.