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Does tenant liability insurance replace a security deposit?

Does tenant liability insurance replace a security deposit?

Tenant liability insurance is an additional form of protection but does not replace a security deposit. Tenant liability insurance can cover the costs of damage and repairs in the apartment but not all expenses. In Poland, it is customary for the role of a security deposit to be broader, covering all other obligations (unpaid utility bills, rent arrears, interest on these obligations, repair costs, intentional damages, etc.). Therefore, Tenant liability insurance can serve as excellent protection but will not completely replace the security deposit.

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Simpl Ltd. with its registered office in Kraków, Piwna Street 25/20, 30-527 Kraków, registered by the District Court for Kraków Śródmieście, XI Commercial Division of the National Court Register, KRS: 0000809392, share capital: PLN 23,550.00, Tax Identification Number (NIP): 6793191362.