Even if you rent – you still need rented accommodation insurance
Recent studies have shown that only one in 20 tenants in the UK have any form of contents insurance at all! Just how many rented rooms, student dorms, flats or entire houses are there on your street that doesn’t have any tenant insurance at all? Are you one of those people on your street that don’t? If you are, more fool you as you should make sure that the thousands of pounds worth of contents that you have spent your hard earned money on are properly insured.
Imagine if you came home one night after a meal with friends and open your door to discover that thieves have raided your flat and taken the TV, DVD player, loads of CD’s, some of your clothes and jewellery. How would you feel knowing that someone had rifled through your personal property? Add to that the feeling that you do not have rented accommodation insurance and you will probably multiply your sense of disgust and loss by 10 times. If you do not have insurance you will have to pay to replace every item that is stolen yourself. If you did have renters insurance the insurance company would pay out to enable you to replace the items when you make a claim.
What types of rented accommodation insurance are available?
| | Contents insurance – you will find that many companies who sell standard contents insurance will accept tenants for their standard policy to cover your contents against fire flood, theft and many other perils that they will list on their policy. However, they normally charge a premium price for renters and do not provide you with cover for damage to the landlord’s contents.
Rented accommodation insurance – otherwise known as insurance for tenants these policies specifically designed with the tenant in mind. These cover your contents, the items that you bring into the property, as well as accidental damage that you may cause to the landlords fixtures, fittings, buildings and contents. Taking out such insurance can help you to protect your deposit! |
Where can you get rented accommodation insurance from?
If you are renting a student dorm or student house you will find that your university can point you in the right direction of a tenant insurance policy or even specialist student insurance. If you have rented a flat or a house share from a letting agent they will either provide tenants insurance in conjunction with an insurance company or they will be able to point you in the direction of a company that can help with insurance for residential tenants. Of course, the one option that will cover you no matter where you rent the property from will be on the internet. Insurers have simple quotation processes that enable you, as a tenant, to get your contents insured quickly and cheaply.
