Tenant Insurance

As a property tenant, tenant insurance is something that you could consider to ensure that you are protected in the event of an incident occurring.

If the property is burgled or damaged by flooding or a fire, having tenant insurance in place can provide reassurance that your personal possessions are covered.

If you are wondering what type of insurance could meet your needs as a tenant, find out how HISL Brokers Limited can help you find tenant insurance to ensure you are protected in the event that the unexpected happens.

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What is tenant insurance?

Even if you don’t own the property, it is important to ensure that you are covered if things go wrong. In a similar way to home insurance, renters insurance provides cover while you are living in the property, in terms of your personal contents (in regards to theft or damage). In addition, you will also be covered for personal liabilities in the event of accidental damage occurring to the property or a third party injuring themselves.

What does tenant insurance cover?

There are various different types of tenant insurance policies that you could consider. These include:

  • Contents: The contents of your rental property and your personal belongings (such as clothes, jewellery, cash, gadgets and furniture) will be covered against losses such as fire, theft, or water damage, and claims will be settled based on the replacement cost of the item.
  • Personal Liability: If you are found to be responsible for causing damage to the rental property (for example, if you accidentally started a fire in the kitchen) or causing injury to a third party, this type of cover will pay for your legal expenses and compensation that you are found to be liable for.
  • Alternative accommodation cover: If your rental property is made uninhabitable due to an insured event (such as a fire, storm or flood), this will cover the reasonable costs for emergency accommodation if you have to move out while repairs are made. If you are required to stay in a hotel, this would also cover the costs for any meals that are incurred.

These are just examples of some of the types of tenant insurance policies that we look after at HISL Brokers Limited. As we know that no two tenants are the same, speak to us today to find out which policies will best meet your needs.

Do I need tenant insurance?

As the tenant of a rental property, it is important that you are covered in the event of an accident, theft, or if damage occurs to the property and you are found to be responsible. Without private tenant insurance in place, would you be able to foot the cost of any compensation claims that you are liable for or be able to replace your belongings?

How much does tenant insurance cost?

The cost of home contents insurance for tenants depends on the level of cover that you need and any optional extras that you choose to add to your policy.

Factors which could affect the premium you pay include:

  • The security measures that you have in place.
  • Your claims history.
  • The location of your property.

Optional extras that you may choose to add to your tenant insurance policy could include:

  • Legal expenses.
  • Accidental damage.
  • Away from home cover.
  • Bicycle cover.
  • Belongings that are located in outbuildings, a detached garage or shed.

At HISL Brokers Limited we understand that cost is important to you, but it is crucial to ensure that you are properly protected. With that in mind, we will take the time to understand your specific needs and recommend the amount of cover that is best suited to you.

What information do I need to provide for a tenant insurance quote?

When getting a quote for tenant insurance, you will need to provide your insurer with the following information:

  • The date that your tenancy agreement started/is due to start.
  • The total value of your personal belongings.
  • The duration of your tenancy agreement.

What else do I need to know about tenant insurance?

As a tenant, it is important to note that you do not need to take out home buildings insurance for your rental property (which will insure the structure of the building) as this is something that your landlord is normally responsible for.

It is likely that your tenant insurance policy will have some exclusions, including wear and tear, accidentally misplacing or losing items and acts of terrorism, which is something you need to be aware of.

When considering the amount of cover that you need for the contents of your rental property, it’s important to think about the total cost to reinstate or replace your contents on an equal basis in the event of any potential loss. Remember, if the worst were to happen and you have under-insured, you could be left out of pocket.

H2: How can I get tenant insurance?

HISL Brokers Limited have a team of specialist advisers ready to help you get the right protection in place.

We will take the time to understand your specific needs and are committed to delivering a personalised service, ensuring that you have the best possible cover at the best possible price.

To find out how much peace of mind costs, contact [broker_director} by calling: (0)20 7220 9020.