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Tenants cover is a type of home insurance that can protect your possessions against risks like flood, fire and theft.
It’s very similar to contents cover, which is one of the two main types of home insurance available. Yet tenants insurance also protects against risks that are unique to renters, such as any damage you cause to your landlord’s fixtures and fittings.
Still unsure if tenants insurance is for you? Here are a few situations where you would take out this type of cover:
In general tenants insurance will cover you for the same things as a standard contents insurance policy. For instance:
Yet this type of policy will also cover you for tenants liability, which means it will pay for any accidental damage you cause to any furniture, furnishings or other possessions that belong to your landlord.
Should you accidentally spill a glass of red wine on the landlord’s carpet or burn a hole in their sofa with a cigarette, tenants liability cover can help.
Items in your home and in your garden will be protected against certain risks as standard with tenants insurance policy – theft for example. Yet you’ll have to pay more for certain additional levels of cover:
Like with all other types of insurance there are reasons the insurer will refuse to pay out. A provider typically won’t help to repair or replace your possessions in the following circumstances:
You and any flatmates who want to take out a policy will have to work out the cost of all your contents. Here are the steps you need to take:
In 2018 the average cost of home contents insurance was £127 a year, so the typical price of a tenants insurance policy shouldn’t be too far off this.
However, this is a general rule of thumb and several factors might mean you pay much less or far more than this:
Let’s face it, we’d all much rather spend our money on the things we enjoy instead of insurance. So here are some tips for cutting your tenants cover premiums:
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