What is Tenants Content Insurance?

You will only need to consider Tenants Contents Insurance if you are living in a rented property.

Whether the property you are renting is furnished or unfurnished, you will have paid your landlord a deposit against damage to their property and, if furnished, damage to the landlords’ contents.

Landlords are totally responsible for taking out Buildings Insurance on the property they own and many will also take out insurance for any furnishings and contents they own. However, you can insure yourself against any claims for loss or accidental damage to your landlord’s contents and you will also have your own possessions in the property which need insuring. So with this insurance, you will recover the full value of your deposit whether from the landlord or through your insurance.

When working out how much to insure your own things for, remember to include any of your own furniture and household goods, your own TV, DVD, Video, and personal effects. You may also be offered cover for a limited sum of cash and the frozen food in the freezer.

You may also be able to extend your cover to “All Risks”. This then covers any possessions (and sometimes some cash) you may take with you when you leave the property. Check out your proposed policy.

One point to check is whether claims are on a “replacement value” or a “new for old basis”. A “new for old basis” means that no matter how old or what the condition the item before it was damaged or went missing, the insurance company will payout sufficient to enable a brand new item to be purchased of a similar, or same, specification. If the insurance is on a “replacement value” you will receive less as the age and condition of the item will be taken into account in the assessment of any claim.

Tenants Insurance will usually cover you for all the usual standard perils such as fire, theft, flood and accidental damage but please check the details of the proposed policy.

Please specifically check out what your proposed policy includes. Conditions and levels of cover do vary between insurance companies.

Click here for extra special rates for Home and Contents Insurance for Tenants.

• Do I need Home & Contents Insurance?

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