Tenants' Content Insurance
A Tenant Content Insurance policy is a great way to cover the replacement of your possessions, in the event of theft, fire or flooding - you can even extend it to include accidential damage.
Our partners at Urban Jungle are a new type of online-only insurance business, focused on using tech to speed things up and saving you money as a result.
What is Contents Insurance?
Contents insurance covers all of your possessions, from your electrical appliances to your clothes. Contents insurance also includes any freestanding fridges, bathroom cabinets, etc. Everything physically fixed to the building like flooring or the built-in-oven is part of buildings insurance. When considering Contents Insurance there are some things which you can choose whether or not to cover, such as gadgets, high-value items and bikes.
However, it is worth noting things which aren’t typically covered by your contents insurance include anything which is owned by your landlord.
Do I really need contents insurance?
Contents insurance provides cover for your possessions against theft, fire, water damage, and, if you choose, accidental damage.
In 2017, 2% of UK households were victims of burglaries, rising to 3.5% in London. You can check what the burglary stats are like in your area on the police website. There were approximately 30,000 fires in people’s homes in the UK over 2016/2017.
However, in 2015 the Association of British Insurers recorded that claims for water damage were equal to thefts and fires combined, as was the case for accidental damage. This means that the biggest area of risk in your home will be the plumbing.
Just think, if your house burnt down would you be able to buy everything new again? Would you be able to afford alternative accommodation while you wait for everything to be sorted out?
How much does it typically cost?
According to Mintel, the average price of a contents policy in 2016 was around £120, but it will vary a lot depending on where you live, what your house is made out of, your home security, and your claims history. For example, if you live in an area prone to flooding then your premium will be higher.
Our partners at Urban Jungle, have fixed prices for their standard policy. This means that prices start at just £5 a month for someone living alone, regardless of age or location.
Where can I buy?
If you're already completing a reference through Veri-Check its quite likely your agent has already opted in. If your agent is part of the scheme then as part of the online application process you'll be given the option to get a quote at the end of your application.
Alternatively, get in touch and we can point you in the right direction.