Tenant Insurance

notrich

Is it mandatory to take out contents insurance when you rent unfurnished? Quotes are coming back quite high, yet the only thing of any value is the laptop, and I thought it might be easier to just insure that!

lee636

I thought only buildings insurance was necessary (which is covered by the block/landlord), could be wrong. Its your possesions afterall, if you loose them it makes no difference to your LL.

G_M

Entirely up to you. Forget buildings insurance - it's not your building!

Possessions - your choice. if you're worried about losing them in a fire/whatever, then insure. If not, don't.

Gwhiz

notrich wrote: »

Is it mandatory to take out contents insurance when you rent unfurnished? Quotes are coming back quite high, yet the only thing of any value is the laptop, and I thought it might be easier to just insure that!

What's "quite high"? Roughly £9 a month for me.

sharpee

We pay around £14 per month for our conents insurance and we've added on expensive bikes, snowboards, golf clubs, 3 computers etc.

Personally I wouldn't take the risk of having no insurnace cos if anything happened and we had to replace all our belongings, furniture, sports equipment etc we'd be looking at at least £30k.


Why take this risk?

00ec25

no it is not mandatory - they are your possessions and it is your risk

mrcol1000

Property we are in now was semi-furnished. Dining table, some bedroom furniture, two sofas and the former letting agent said we couldn't rent without seeing proof of contents insurance. So we got basic contents insurance (making a profit through cashback) and the letting agent didn't even ask to see proof so we cancelled it.

Colincbayley

Are you aware that some contents policies for tenants, will still cover accidential damage to the LL's goods, including fixed glass and tenant liability.

00ec25

mrcol1000 wrote: »

Property we are in now was semi-furnished. Dining table, some bedroom furniture, two sofas and the former letting agent said we couldn't rent without seeing proof of contents insurance. So we got basic contents insurance (making a profit through cashback) and the letting agent didn't even ask to see proof so we cancelled it.

unkless you got a tenats policy which expressly covered LL property then a "basic" policy would have been null and void since you were trying to insure property which you did not own and therefore a basic poilicy would not have paid out

congrats on use of cashback though!

the182guy

Ours was required. We went with the quote the LA gave us which is £13.21 per month for £20k cover.

notrich

Thanks for replies, agent is saying that we either have to have our own or theirs. It's DD's first since student days and she only has a few basic ebay items, except for the laptop.

Also, I can't answer some of the questions, and neither can the agent (:eek:) therefore it would be void if we were wrong and claimed.

Interesting point about cover for tenant liability, but don't fixtures come under buildings?