What tenants should know about contents insurance

There are a lot of things that you should be informed about if you are a tenant renting a home, there are many things to think about, such as your rights and responsibilities and the legal details of your relationship with your landlord. One of the most important things for tenants' to think about is protecting their possessions with tenant content’s insurance. If you are unsure where to start, here's what you need to know:

What is Tenant’s Insurance? 

This type of insurance is a policy that offers protection for your personal items that are not fixed to your home. It will only cover you for your possessions and not for the structure of the property or the fittings and fixtures. In order to cover those fittings and fixtures you will need buildings insurance, but this will usually be covered by your landlord.

 Who Requires Tenant’s Insurance? 

How do you know whether you are in need of tenant’s insurance? Usually this type of insurance is recommended if you live in a rented property such as a shared flat or a house. It is not necessarily appropriate for full-time students, who might require a different type of dedicated policy. Sometimes when you live in a shared house it can make things complicated because insurers might refuse to offer you cover for shared accommodation if your bedroom doesn’t have its own lock. However there will still be options out there for tenant’s insurance that will suit your needs, it is important to shop around on Discount Insurance and look at your options. The important thing is to always be honest about the living arrangements you are in – if you need to make a claim and you have provided the incorrect information your policy will be invalid!

Why Do You Need Insurance? 

If you are renting an unfurnished property then having tenant’s insurance will allow you to protect your furnishings, electronics and other possessions against risks such as fire, theft and flood. This is because the landlord’s cover will not protect your personal belongings in such a disaster, you need to make arrangements for your own possessions to be covered. These personal belongings could include electrical appliances, clothing, furniture, electronics, computers, bicycles, jewellery and other valuable items. Having these items stolen or damaged will be upsetting and stressful, but if you have the right insurance you can make a claim and be compensated for their worth.

How Much Cover Will I Need? 

In order to determine how much cover you will need, you will usually be asked by the insurer to supply a “sum insured.” This is an amount that details the maximum value of all of your contents. To figure out this number, you will need to add up the value of everything in your home. If you have items of a very high value you might need to list them separately – such as a computer or a television. The right insurance policy will protect your possessions from a number of risks, including storm damage, theft, flooding and fire. Take your time to choose the right insurance policy for your particular needs so that you can enjoy peace of mind.

Visit www.dicountinsurance.co.uk for the best available market rates on your tenant contents insurance.