Insurance for Tenants
The current financial crisis and its ripple effects in terms as job losses, pay freezes means that buying a house is now beyond many people, primarily those who have not got a foothold on the property ladder. This means that more and more people find themselves having to rent from private landlords. This means renting an unfurnished property from a private individual or corporation not associated with the local authorities.
In terms of home insurance cover, tenants are not liable to buy buildings insurance as this should be covered by the landlord or landlady. However, whatever the landlord/landlady’s cover it will definitely not cover the personal
belongings of the tenant. It is therefore imperative that tenants do get home insurance cover for their own belongings. This is known as home contents insurance. Everything in a rented house that is not directly owned by the landlord should be insured by the tenant. It is very easy to get tenants insurance from all the insurance providers either online, by phone or in person.
What Does Home Contents Insurance Cover?
Basically, anything that you take with you when you move will be covered by home contents insurance. This includes large items such as furniture, curtains and carpets, electrical appliances down to smaller much more personal belongings, for example books. Home contents cover also includes money, clothes and other valuables like jewellery.
When buying contents insurance make sure you know what is being covered. Some insurers will not cover televisions or laptop computers whilst others will. In addition, for a small extra fee it is possible to get accidental cover. This means that if you spill paint on your carpet, or if your child drops and breaks a camera the damage caused will be covered. This can be a very useful addition to home insurance cover dependent, of course, on personal circumstances.
It is normal and necessary when purchasing contents insurance to place a value on your contents. Often cover is new for old but this will depend on the insurer. There are certain conditions that may apply in terms of insurance so, for example, if your home is vacant for long periods, your cover will be affected.
Look Into What You Buy
Always ensure that you give as much accurate information about your contents as you can as this allows the insurer to provide the best cover possible. You may need to find out about the kind of locks you have on your property or whether you are in a neighbourhood watch scheme. Read policies carefully and make sure you are clear on what exactly is covered and what is not.
It is important to have home insurance cover but ensure that you get the deal that best suits you and your particular circumstances.
