Landlords should insure their rental property against any damage, either accidental or otherwise. Tenants can arrange their own insurance to protect their contents and liability for damage to the landlord’s property. 

Landlords need insurance to cover damage
If you’re a landlord, make sure your insurance covers the property, and that the cover is for a rental property. The Residential Tenancies Act 1986 requires you to pay the premiums charged for that insurance.
Residential Tenancies Act 1986  
Check exactly what your policy covers. Some insurers cover issues to do with tenancy (for example, vacancy periods and damage by the tenant).
Talk to your insurance company about their requirements for making claims. Some insurers need landlords to prove they’ve completed a thorough tenancy selection process before honouring damage claims.
You may also choose to insure any chattels (such as furniture) that are listed in the tenancy agreement. Any damage to them won’t be covered by the tenant’s contents insurance.

Tenants need insurance to cover belongings and damage
If you’re a tenant, you need insurance. Your landlord’s insurance policy doesn’t protect your belongings. 

You’re liable for any damage you or your invited guests cause, intentionally or carelessly. Even if you aren’t named on the tenancy agreement, you should have a:

• contents insurance policy to protect your belongings
• personal liability policy to protect you from any careless damage you or your guests may cause to the property.

If an insurance company pays out a landlord for damage and believes you’re liable for that damage, the company may seek compensation from you. Personal liability insurance may protect you in this situation.

Choose wisely when renting in Christchurch since the quakes
If you’re thinking of renting in parts of Christchurch that were damaged by the 2010–2011 earthquakes, you need to consider a few things before entering into a tenancy agreement. For example, be aware that if an insurance company considers a house uneconomic to repair, the house won’t be insured – and this could affect your contents insurance.

为什么房东与房客都需要保险？
 
房东需要保险，主要原因是确保出租房在任何情况下（包括意外或者其他形式）都将损失最小化。同时，租客也是需要保险的，因为租客需要它来保障租客的利益以及尽量避免房屋损坏后的赔偿责任。
 
房东需要保险去赔偿损失
如果你是房东，请确保你的购买的保险中包含了房屋险，并且有明确指出该房屋为出租房。 Residential Tenancies Act 1986（1986年住宅租赁法）提供了相关保险条款。在签订保险时，一定要完全了解保险的内容以及具体的索赔要求。 因为每个保险公司的政策略有不用，有些保险公司是包含了租赁问题（例如空置期或房客损害），有些没有。另外在申请租赁索赔时，有些保险公司是需要房东来证明他们已经进行了房客筛选。
您也可以选择在保险中列出动产，这些动产是在签在租赁合同上的，声明任何遭受动产的损失将不包括在租客的财产保险中。
房东保护险对于房东来说是最佳选择。什么是房东保险？房东保险主要保护的是出租房。举个例子来说，如果出租房被恶意破坏或租客偷窃，导致房屋需要维修或者损失的，保险公司可以赔偿额最高可为$32500.
 
租客需要保险去降低赔偿责任以及保护自身利益
如果你是租客，同样是需要保险的。因为房东的保险不包括租客的个人财产。
身为租客的你，无论是故意的还是不小心的，即使你没有签署租赁协议，你都需要对出租房承担赔偿的责任。因此你应该在至少有一个保险：
1.      财产保险，去保护自身财产
2.      个人责任保险，以保护你或者你的客人在任何不小心的情况下造成的财产损失。
什么是个人责任保险？举例来说，如果保险公司支付了房东的伤失，并有理由的相信这些损失是由你造成的，那么保险公司可能会找你寻求赔偿。个人责任保险可以在这种情况下保护你。