Tenant Contents & Tenancy Liability Insurance provided by HomeLet
What is Tenants Insurance?
Tenants Insurance, often called Renters Insurance is an insurance designed for tenants who are renting a property. There are two main types of Tenants Insurance; Tenants Liability and Tenants Contents. You can buy these individually or take out a policy to cover both. Liability covers accidental damage to your landlord's contents whereas Contents covers your personal possessions.
Tenants Contents Insurance from HomeLet
No matter how careful you are, there’s always the possibility that something could go wrong. By taking out Tenants Contents Insurance, you can ensure that if your belongings are stolen or damaged while you’re letting a property, you won’t have to worry about paying for replacements.
So, if there’s a fire in the house or flat you live in, the property’s flooded, or someone breaks in and steals your things, this type of contents insurance for renters is there to provide protection.
How does Tenants Contents Insurance from HomeLet work?
HomeLet have been providing specialist cover for tenants for over 25 years, so they’re able to offer comprehensive insurance for a range of needs.
When you take out Tenants Contents Insurance with HomeLet, you will be covered for up to £50,000 as standard. This will cover you if you need to put in a claim for certain insured events, such as theft, flood, Escape of Water and fire.
HomeLet’s contents cover protects you, your partner, your children and any other person who permanently lives with you, including up to two sharers but not lodgers or any other paying guests, in the event of things such as fire, theft or flood. You’re also covered if there’s accidental damage to your TV, audio, video, DVD and personal computer equipment.
It also includes:
- Money (up to £500 per claim) and credit cards (up to £200 per claim)
- Pedal cycles within the boundaries of your home (up to £500)
- Contents in your garage, shed or outbuildings (up to £2,500)
- Locks changed following theft of keys (up to £1,000)
- The items covered will depend on the policy you choose and there are certain add-ons and upgrades that you can opt for, depending on your circumstances.
What's it worth?
When choosing the right policy for you, it’s important to know what will automatically be covered and any extensions you might need. Generally, gadgets, appliances and clothes fall under a typical policy, however there are some restrictions in place.
For example, your bicycle is covered under this renters’ contents insurance, but this only applies to pedal cycles and not motorbikes. Also, the standard cover only applies if your bike’s worth up to £500. You can insure more expensive bikes, you’ll have to advise HomeLet of this and it may increase your premium. Do you have more than one pedal bike? You’ll get up to £500 per bike.
Overall, the following items are covered:
- Clothes and jewellery*
- Ornaments, antiques and heirlooms*
- Soft furnishings, i.e., bedding and cushions
- Electrical equipment, i.e., TVs, Blu-ray players, games consoles, speakers, stereos
- Mobile phones – as standard our contents cover provides up to £300 per claim for mobile phones (excluding accidental damage – however this is included if you take out the Accidental Damage extension)
- Any personal furnishings in the property, i.e. furniture
- Your bicycle (as above)
Double-check with their team of insurance experts to find out what your policy will cover.
*Where items are classed as valuable the most HomeLet will pay for any one item is £2,500 and the most HomeLet pay for any one claim is £10,000. The definition of valuable is; articles made from gold, silver or other precious metals, clocks, watches, furs, photographic equipment, binoculars, telescopes, musical instruments, collectors’ items, pictures and other works of art, rare and unusual figurines and ornaments, curios, guns, collections of stamps, coins or metals.
As with any type of insurance, it’s important to make sure you have enough cover. To find you don’t have enough to replace some of your more expensive items can place significant financial strain on you.
Tenancy Liability Insurance
The Tenants Contents Insurance policy incorporates HomeLet’s Tenancy Liability Cover as standard. If you accidentally damage your landlord’s property, this will cover you for repairing or replacing their broken fixtures, fittings and furniture up to £10,000.
Protect against deposit deductions
Tenancy Liability Insurance can reduce the risk of 'end of tenancy' deductions as it covers the cost of fixing accidental damage.
How is this different from my security deposit?
Tenancy Liability Insurance is not a replacement for your security deposit. The cover is designed to reduce the risk of deductions from your deposit. It pays out for some of the most common reasons a landlord might keep your money at the end of your tenancy. It's worth noting that you shouldn't leave it until you move out to make a claim. Most insurance providers give a maximum of 30 days after the incident for you to make one. It won't protect you for deductions from your deposit where you haven't paid all your rent or utility bills or don't leave the place sufficiently clean.
Find out more about Tenancy Liability Insurance and how it works as a standalone type of cover here.
Sky & Virgin Media
When moving home we know tenants want to be connected to the internet as soon as possible! As well as Tenant Contents & Liability Insurance HomeLet have access to special offers with Sky and Virgin Media that you might not be able to get directly. Contact us now to find out how to benefit from these offers!