Thieves don’t care if you own or rent your home – it’s all the same to them as they sift through your possessions looking for items to steal.
That’s why many renters look to tenant insurance to protect their belongings from fire, flood and theft.
While the landlord is responsible for insuring the building, it’s down to the tenant to ensure their belongings are protected.
Here’s how tenant contents insurance works for new renters and those that didn’t realise their possessions were uninsured unless they take out cover.
What Is Tenant Contents Insurance?
Tenant contents insurance does what the title implies – insures a renter’s belongings against fire, theft and flood.
Although a landlord may insure the furniture and other items in a rented home, the cover does not extend to the renter’s possessions.
So, if the worst were to happen – like a fire destroying the property – the landlord’s buildings and contents cover would pay for their losses. However, the renter would have to pay for their ruined possessions from their pockets unless they had tenant contents insurance.
What Does Tenant Insurance Cover?
The items covered by tenant contents insurance depend on the terms set out in the policy.
Some products offer basic cover, while others come with many bells and whistles that push the cost of cover up.
Renters should expect the policy to cover their belongings like::
- Cash – including travel tickets, gift vouchers and phone cards
- Technology – like TVs, computers, tablets, smartphones and other gadgets
- Clothes
- Furniture
- Food in a freezer
- Garden furniture, tools and toys
Don’t forget to add personal possessions, like jewellery and everything that makes a home, like cutlery, coffee mugs and cushions on the sofa.
Most policies include bikes – providing they are chained to something immovable in the garden or garage.
What’s not covered by tenant content insurance
Although accidental damage is covered by most policies, replacing something that is lost or misplaced is not.
Cars, motorbikes and other vehicles parked on the drive or in a garage should have their own insurance.
Other exceptions include the cost of repairing a damaged item, wear-and-tear and damage caused by pets chewing, scratching, fouling or tearing.
Adding tenant liability insurance
Tenant liability insurance is an add-on that can give renters extra peace of mind.
The policy covers accidental damage to the landlord’s property or possessions.
Who Can Take Out Tenant Content Insurance?
Anyone who rents a home can take out tenant content insurance – including students, although many providers offer special policies for them.
How Much Does Tenant Content And Liability Cover Cost?
The cost of tenant content and liability cover varies between providers and the level of cover. Renters can expect to pay six or seven pounds a month for comprehensive cover.
Zero-Deposit Insurance
Zero-deposit cover is becoming popular among tenants who rent privately.
The policy is stand-alone and replaces the need to pay a security deposit. The cover is offered by specialist providers and is not usually packaged with tenant contents or liability insurance.
The insurance covers any claim from the landlord to repay rent arrears or repairing or replacing damaged items after a tenant has left the property.
If the insurance pays out, the provider may call on the tenant to cover the cost of the claim.
Tenant Pet Insurance
Most tenant liability insurance covers damage by pets at a rented home. Standalone cover is available, but landlords arrange and pay for the policy as the charge is not allowed under the tenants fee ban.
Tenant Or Renter Insurance Explained FAQ
When should tenant insurance be taken out?
The insurance is available to new and existing tenants. Renters can either set up a policy to start from the day of moving into a rented home or consider a policy once settled in.
Do I need new renter insurance if I move?
Most renter insurance is portable, like motor policies. Tell the provider about the move because they may want to change the price or review the terms of the policy. IF you don’t, you may be left uninsured.
What is renter liability insurance?
Tenant liability insurance can come bundled with contents cover or as a standalone policy. Liability insurance typically protects the tenant from the cost of a legal claim if a third party comes to the property and suffers an injury or illness for some reason.
Some liability packages have extras, like accidental cover for items in the house belonging to the landlord.
Who pays for tenant insurance?
The tenant is responsible for arranging and paying for contents or liability insurance that covers their own possessions.
Is student cover different from tenant insurance?
Student insurance covers belongings left in shared accommodation, while tenant contents insurance relates to an entire property. Both policies have different features, although many are similar.
Do tenants need permission to keep pets?
Renters are not obliged to tell their landlord that they have a pet, but some tenancy agreements may require them to do so.
Related Information
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