IF you are renting a property or room then chances are you will need Tenants Insurance for your own possessions and belongings. The good news is that this insurance is normally very affordable for a year, with prices around £100 or less. This is your guide how to buy Tenants Insurance.
This is a specific insurance product designed to protect your belongings against loss, theft or destruction. It is the same as normal contents insurance but specifically tailored for tenants and the likely risks they will encounter. It does not include any buildings insurance that is normally the lion’s share of cost of home insurance and will be taken care of by the freeholder.
That means anything you own will be insured if the building burns down and all is lost. If a thief breaks in and steals your possessions then they will be replaced. In some cases, if you want, you can opt for cover for items away from home. If you are worried about your laptop being damaged while at university or your camera being stolen when out walking, then you can specify them to be covered away from home.
Adding away from home coverage will add cost to the policy but it is often cheaper than buying standalone cover. It may cost £100 a year to insure your mobile phone on its own policy and half that through your Tenants Insurance.
This will depend on how many and the value of your belongings. Normal policies allow £5000 – £10,000 cover at low prices. But it does not cost much more to get up to £50,000 cover if needed, this is pretty basic numbers and all very reasonable.
You should have receipts or proof of ownership of items if you can. This will help if you ever need to make a claim in the future to show real value and ownership. Select the amount of cover you need, add on any valuable items specifically (say over £1000 ov value per item) and that is what you need Tenants Insurance to cover.
This is the easy bit. You can go to The Home Insurer and get a direct quote and buy. Alternatively you can visit The Property Insurer and have a panel of three specialist brokers compete for your policy so you can compare prices. Either way you will get access to excellent policies and prices.
The Property Insurer