Renting a property? Don’t leave this off your To Do list.
A recent survey has shown that more than half of tenants across the UK forget to do one simple but essential thing to protect themselves.
According to insurance company Paymentshield, which commissioned a YouGov poll last month, 54% of renters do not have contents insurance.
It’s a pretty easy mistake to make amid all the things that need doing during a property move. Thankfully, there is a simple solution that we’ll share below.
We advise all our landlords to take out comprehensive insurance to cover damage to their property.
This means they are protected and would receive money in the event of a successful claim, should the property they own be damaged.
But this type of insurance only covers the landlord and NOT the contents that the tenants own.
According to the survey, 16% of tenants who were asked said they had suffered a fire, theft, burst water pipe, flood, lost keys or damage to their or their landlord’s belongings within the last 12 months.
A simple, safe solution
It’s advisable that people moving into a rental property put getting contents insurance at the top of their to-do list.
Tenants who don’t have cover are running the risk of losing out if their items are stolen or damaged.
The good news is there are plenty of different policies available to tenants.
A quick Google search using the term ‘Contents Cover for Tenants’ gives you an array of options and our lettings team can help too.
Before taking out any insurance, be clear you fully understand what it covers. And always be upfront and honest with insurance companies when getting a quote.
For any property-related questions you have, get in get in contact with us today.