As a first time tenant it can be tricky to know what you need to sort yourself and what your landlord will sort for you. In this blog, we’re answering the question, what is contents insurance and do I need it?
It’s important that you take the time to understand your responsibilities as a tenant. Some of these may include the following.
- Bills
- Council tax
- Any insurance policies needed
What is contents insurance?
Contents insurance is for tenants. It helps to protect the contents inside your property. Buildings insurance is different as it organised by landlords. Buildings insurance covers damage to the property itself, such as the roof.
You might be wondering, what does contents insurance cover? Contents insurance can be used in a few different scenarios, such as the following.
- Theft
- Fire
- Flood
- Loss
If you have high value items, you will likely need to pay more for these. You will also need to pay extra for accidental damage cover and issues that occur in different countries.
It’s crucial that you are honest when applying for your contents insurance. You will need to add specific details for high value and other items to ensure that you are covered to the correct amount.
Who needs to organise contents insurance?
Contents insurance should be organised by you, the tenant. When organising your home’s contents insurance, you will be asked questions about the property and its safety. You will also be asked for details regarding your belongings and their value. This information will help the insurance company to determine your policy cost.
Some companies may ask that you pay in one lump sum, whereas others may allow you to pay monthly. It’s important that you organise contents insurance whether you are renting or you own a property.
What happens if I need to make a claim on my contents insurance?
Hopefully, you won’t actually need to use your contents insurance, but there are scenarios where you might need to. If this happens, you will need to get in contact with the company you have taken the policy with.
They will ask you questions about your situation, for example what has caused the claim. This might be fire, theft, flood or something else. They will also ask about which items have been damaged.
At this point, the insurer will assess your claim and decide whether or not your items or furniture will be covered by them. They will then send the money so that you can replace or repair your items.
Be aware that some insurance companies will not pay out for various reasons. It is absolutely vital that you are honest when providing the information for the policy.
Some insurers will also request an excess from you. This is a fee that you pay before you can access the money from the claim. Some insurers may deduct the excess from your claim cost.
What to add to contents insurance policy documents
- Mobile phone
- Games consoles
- Personal belongings
Any items that you add will be covered by contents insurance providing that you added the details correctly.
Common FAQs for home cover
- Does contents insurance cover fire? Yes, providing that you selected this with your policy.
- Does contents insurance cover jewellery? Yes, providing that you added jewellery to the home insurance cover.
- Does contents insurance cover fixtures? No, this will be covered within buildings insurance.
Do I need contents insurance?
While contents insurance is not actually a legal requirement, it is definitely worth having. There are many companies that will offer you great deals on your home contents insurance.
You will not be covered by contents insurance for things such as wear and tear or for valuable items that have not been identified.
We hope this blog has been helpful regarding home contents insurance cover. Are you looking for your next rental property? We can help. Please feel free to contact our friendly team for support finding your next home.
