Tenant's contents insurance - a real must have
Posted on 18th September 2012
There is a common misconception amongst a lot of tenants that their contents & valuables are automatically insured by the Landlord and that in the event of something like a fire, a theft or accidental damage they are able to claim for damaged contents under the Landlord policy
This could not be further from the truth and this type of insurance is vital, covering valuables, essentials, legal documents etc all of which would be financially challenging to replace.
It is probably another misconception that separate insurance for contents is expensive.
We encourage our tenants to take out proper contents insurance as it can prevent some disputes over damage to contents which could result in deductions to the tenant's deposit or bond. Taking out tenants insurance enables repairs to be done, it keeps both parties (landlord & tenant) happy and enables the full deposit to be returned at the end of the tenancy.
Tenants contents insurance typically covers possessions against loss or damage by fire, smoke, lightning, theft, flood and escape of water and oil. Cover can be extended to include personal possessions when away from home, for example mobile phone, camera, iPad, cycles and other sports equipment. Our recommended insurers will also agree to insure the tenants contents against accidental damage so for example a paint spill on the landlord’s carpet, this should enable the tenant to retain the deposit = everyone happy!
On a final note, check your policy. Some contents insurance policies offer very little protection and high excesses. We work alongside an affordable and creditable insurance Compnay and good substantially cover can be had for as little as £10 per month. Contact the lettings team or your property manager and we will arrange a quote for you. Easy as that. Peace of mind.