12:52 06 December 2012
Do you rent your house? Whether you’re a tenant renting your house from a landlord or a student at university paying for your term-time accommodation, it’s advisable to have house insurance in place to cover your contents.
However, unlike your landlords you won’t need to worry about buildings insurance - which can cover the actual structure of a house in case of floods or fires. Instead, a tenant needs only to take out a contents insurance policy.
It is best to consider tenant house insurance for the contents of your home as the value of your belongings can mount up.
House insurance policies can vary, but it would be ideal to be covered against theft rather than not have any cover in place.
Some rented properties may be more prone to theft, and the area of your home is something that house insurance companies take into consideration when they devise your house insurance premium.
Rented properties with a shared entrance may also be more vulnerable to theft.
It is also wise to extend your tenant insurance policy to include accidental damage. This extra premium is popular with many people, as it will mean, for example, that if you are to spill something on a carpet you will be covered.
It is worth noting however, that if your TV becomes damaged and it is fifteen year olds, some tenant insurance companies may only pay out for its current value and not the original amount paid. This relates to new for old cover or indemnity policies.
Not all companies that cover tenant’s for contents house insurance will consider rented accommodation that is shared or is furnished.
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