If you live in rented accommodation, there is a good chance that your landlord will have insurance in place. This insurance, usually Building and Contents Insurance, will cover serious damage to the property and to any furnishing or appliances that your landlord has provided. One thing this insurance doesn’t cover is your stuff – that’s why you need tenant’s insurance.
Why should I get tenant’s insurance?
Whilst tenant’s insurance is not a legal requirement, it does offer peace of mind and will help protect the tenant should the worst happen. Tenant’s insurance will also cover any damage sustained to the landlord’s belongings caused by either the tenant themselves or visiting guests.
What does tenant’s insurance cover?
Tenant’s insurance – or tenant’s contents insurance – covers the majority of your belongings in the event of theft, flood, fire or accidental damage. Most policies include:
- All furnishing and appliances that belong to the tenant
- The loss or theft of keys to the property and the cost of having an alarm system fitted and locks changed
- Any cash or credit cards stolen from the property
- A set amount to cover any spoiled frozen food as a result of an incident, such as a power cut
- Accidental damage to electrical items, such as TVs, tablets and phones
- Alternative accommodation in the event that an incident, such as a flood or fire, causes a tenant to move out for a period of time
Deposit protection and legal cover
Most tenants’ contents insurance policies help protect the tenant’s deposit by covering any damage to the property and the landlord’s belongings within that property. This type of cover is also known as tenant’s liability insurance.
The majority of policies will also provide legal cover. This will be useful should a dispute arise between the tenant and the landlord, or if the tenant is injured as a result of a fault within the property which was the landlord’s responsibility and the tenant wishes to put in a claim for compensation.
Student tenant’s insurance
As a student, it is possible to take out a policy even when you rent just a single room in shared accommodation or in halls of residence.
Student insurance enables the individual to insure just one valuable item or a whole host of personal belongings such as cameras, laptops, tablets, TVs, phones and even their bicycle.
The student insurance will also provide cover for accidental damage and vandalism as well as a set amount for the misuse of credit cards in the event that they are stolen.
Your landlord’s responsibility
As the owner of the building, your landlord is responsible for insuring the property. If your home is partly or fully furnished, they are also responsible for insuring the contents they have provided you.
Your landlord can encourage you to purchase tenant’s insurance to protect your own possessions – however, you are not legally required to have this cover in place.
To find out more about you and your landlord’s responsibilities, download a copy of the government How to Rent guide and our free Landlord Checklist.