IF you are renting a property, then this is your guide to how to buy the right insurance at the very best price.
Make no mistake; you will need insurance for your own possessions at the very least. Unless of course, you donÂt own anything at all which is very unlikely.
As a renter, you will need what the insurance industry calls tenants contents insurance for sure. This is insurance to cover everything you bring into the property from sofas to mobile phones, computers, TV, cash or anything else you can think of.
Renters insurance is very similar to standard contents insurance and is designed to protect you against theft, damage or loss of your own possessions.
So if a thief breaks in and takes your computer, camera and wallet, then you can claim on your renters insurance to have them replaced. Without insurance, what would you do to replace them Â not many people can afford to spend large sums of money on short notice on items that are stolen.
The average contents insurance in the UK is somewhere between Â£30,000 – Â£50,000. Once you start adding up everything you own, the money soon sky rockets. Renters are subject to exactly the same rules and often have all of their worldly belongings within a rented property.
The price of renters insurance is actually a lot cheaper than you may imagine. In the UK, it is around Â£100 or less on average Â although it can fluctuate dependent on postcode and claims history. If you live in a den of thieves, then chances are insurance will cost more because the area is known for thefts. Similarly, if you have made numerous claims in the past, then you are a higher risk and insurance will cost you more. In both cases, you will still need insurance to protect yourself from loss.
The good news is that in most cases, the landlord will be in charge of the building insurance and you will not need to worry about that unless under a specific contract clause.
This is the easy bit. Simply add up everything you own and make an inventory or list. Add it all up and youÂll know the values you are talking about. Then note anything particularly valuable Â anything over Â£1000 is a reasonable rule of thumb. Pay special attention to jewellery and bicycles.
Then go to www.thepropertyinsurer.co.uk and click on renters insurance. You will fill in a short form and then three specialist UK based insurers will contact you and fight for your business. Once you have more than one price you will be able to compare and know what to expect. For the majority that should be Â£100 or less with a typical Â£50-Â£250 excess agreement.
You will be able to protect items away from home, while in the office or against accidental loss. These services will all cost extra, so donÂt buy them unless you really want or need them.
ThatÂs how you can buy renters insurance at some of the best prices in the UK today.