photo credit: Wonderlane
Tenants often don’t need the same type of contents insurance as people who are buying their own homes. A tenant doesn’t need to protect the building that they live in as that is the responsibility of the landlord who owns the property. Landlords should have their own Landlord Insurance cover.
Buildings Insurance shouldn’t be a concern but it is always a good idea to have contents insurance for tenants. This protects any belongings that a tenant owns in the property or doesn’t want to lose.
It’s important to look carefully at the contents insurance policy wording to check if you are covered for the items that you actually need to be covered for. Some policies don’t cover expensive items as standard, this can be items over £2000 very often. You will then need to buy additional cover for valuable items should you have expensive jewellery, electronic equipment, or anything else.
Alongside your contents insurance you could also be offered cover for accidental damage. This will generally be an extra too. It covers your possessions should you accidentally damage something, for example by spilling something on a piece of electronic equipment.
Landlords do not need to provide contents insurance for their tenants, it is the tenants responsibility to find their own insurance, so tenants need to be aware of this if they are renting for the first time. This is particularly true in the case of students who might not think about taking out contents insurance cover.
There are a number of ways to make sure you don’t pay too much for your contents insurance. One of the best ways is to shop around online to find the best deal. There are numerous places you can compare quotes online, so you can look at different quotes side by side and judge which is best value for you.
Recent Comments