IF you are a tenant or a student tenant then you will need cover for all your contents and this is your guide how to get your renters insurance at the lowest price possible.
The first thing you do is find out how much your contents are worth. This is important and is one of the most contributing factors to the cost of your insurance. So, have a quick look round your property and make a list of what you own and what it would cost to replace it all.
Get everything, don’t forget the sofas, beds, clothes and jewellery. It shouldn’t take long to do this and at the end you’ll have a fairly good idea how much cover you need should you suffer a total loss in the event of a fire or claim. Electronics, computers and mobile phones should all be counted and these can really bump up the contents value. I’d expect you will end up very easily with values above Â£5000 and most likely over Â£10,000. Don’t be concerned at these values as they are very normal, up to Â£50,000 is pretty normal but don’t make the mistake of over insuring for what you don’t own, it will cost you more.
Next go to the Internet and do a search for renters insurance and go to any of the providers noted on the first page. These brokers and insurers are all likely to be pretty good and give you a decent price.
Regardless of what you read, there is no real price comparison for tenants insurance available at the moment so the best you will get will be a broker privately comparing insurers it has on its own panel. That does not mean you’ll get the lowest price either, because if the broker is earning more commission from another they will try to maximise their profits.
Once you’ve got the first price then go to The Property Insurer and click on the renters insurance button. It will then take you around one minute to complete the online quote form and you will have a price from a leading UK specialist to compare with the first one you received.
Now it is simple, buy the policy that is cheapest but make sure they both offer the same cover and require the same excess in the event of a claim. As long as these are the same then the lowest price wins and you have just sorted your renters insurance.
The Property Insurer