IF you are a tenant renting a property from a landlord and own possessions that are worth anything at all, then you will need Tenants Contents Insurance. If you don’t have Tenants Contents Insurance then if you suffer a fire, theft or loss of any kind, you will be forced to replace everything out of your own pocket.
Not many people can afford to replace everything they own out of their own pockets. All you have to do is add up the values and it gets very expensive. Have a thought if you own a decent flat screen TV – £500+, a computer- £500+, a sofa £500+, a wardrobe of clothes – £1000, a nice watch and some jewellery – £2000, a decent digital camera – £200, phones, cooking utensils and a table – £1000. And if you own a bed and mattress that’s easily another £1000.
If you have a games console and some games to go with it then £500 is a low figure. How about a laptop for work at another £500? Normally with computers you’ll have printers – that’s another £200. Clock radios can be £100. And if you have any credit cards or cash, they could be worth a few hundred pounds more.
I am sure there are lots of things I’ve forgotten about when it comes to calculating how much it would cost to replace everything you own. Books, ornaments, cutlery and dishes, a BBQ, bicycles, gym equipment, mobile phones, set top boxes, lamps, coffee tables, kids toys and loads more could be added to the above. And it all adds up quickly.
Tenants normally have around £2500 – £10,000 worth of contents. They can have a lot more and there is no limit to the amount that can be covered. The good news is that Tenants Contents Insurance can cover it.
The more coverage you need the more the tenants contents insurance will cost, this is a natural progression because the benefit is much higher if you ever use it. But the costs are not massive here. A typical tenants contents insurance policy for £2500-£10,000 will cost £50-£100 per year, so it’s low cost and high benefit if you ever need it.
If you decide you want accidental cover in case something happens, then that will cost more. Also, if you want to include cover for items away from the property, then that will add cost as well but is very popular, especially with students taking expensive Mac Book Pro computers to college.
To get the best tenants contents insurance policy possible at the best price, use The Property Insurer, we have some of the lowest rates in the UK matched to the most comprehensive policies.