Home insurance guidance for tenants  Home insurance guidance for tenants 

Home insurance guidance for tenants 

If you’re planning to rent soon, you might be focusing on the upcoming move, not tackling paperwork.

No. 1602 from our magazine|2 min read| Published in Magazine on 2 August 2022 by our Marketing Team

The good news is, you won’t have to factor in building insurance – but you should still protect your belongings from theft, damage, and other hazards. 
 
The easiest way to do this is by taking out an insurance policy designed for tenants. It’ll only cost you £57 a year on average* and will usually cover:  
 

Your personal belongings, furnishings, and appliances 
Accidental damage to your TV, computers, and devices 
Changing the locks or fitting an alarm if your keys are lost or stolen 
Money stolen from your home, including cash and cards 

Accommodation if your home is affected by fire or flooding  
Legal fees in case of a disagreement between you and your landlord 

 
High-value items such as bikes and portable equipment may also be covered up to a set value, or you can add these items onto your policy for extra peace of mind. In addition, a tenant’s liability insurance can protect your deposit by paying for damage to the landlord’s property and furnishings.  
 
Although there’s currently no legal requirement for renters to take out insurance, your tenancy agreement may stipulate that you should. Either way, the cost of replacing items often far outweighs the small annual fee, especially in the event of fire or flooding.  
 
Many providers even allow you to pay monthly, and you can always shop around on the comparison sites. By insuring your belongings from the start, you’ll know exactly where you stand in the event of a mishap or disaster – just check the fine print first! 
 
We’re always here to advise tenants. We’re always here to advise tenants. We’ll help you find your perfect home, simply get in touch and let us know your requirements. 
 
*Data from the Money Advice Service 

This article was originally published by BriefYourMarket and is reproduced here with their permission.

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