home insurance for renters?

lovelylaura01

i was hoping someone would be able to advise me what kind of cover i need please. do i need contents and buildings or just contents ? and do i just need the basic plan or is it better to pay a little more i wouldnt say if we lost everything in out house it would cost thousands to replace.

thanks

torbrex

Contents insurance should be enough as your landlord will have insurance to cover the building.
It may not be the best advice in the world but my mum was an insurance agent and her advice was to take the value of everything that you own and keep at home, double it and that should be the minimum value of the cover required.
This takes into account anything that you add or replace in your belongings over the course of the year.

If you want to save on premiums then go for less cover, that is what insurance is all about, it is a gamble.

ACG

Contents insurance will be fine. If the building falls down, its not your problem (i know thats a harsh way of looking at it).

Contents insurance should be fine. Depending on what you have in your home even the basic policies will cover enough to ensure you can replace everything (usually anywhere from £25k upwards). Its the other bits that you need to look at - high cost items - jewellery etc, if you have a shed/garage - whether or not this would be covered - generally the things you probably dont think about when looking at insurance.

lovelylaura01

thankyou makes much more sense when someone explains it

HappyMJ

torbrex wrote: »

Contents insurance should be enough as your landlord will have insurance to cover the building.
It may not be the best advice in the world but my mum was an insurance agent and her advice was to take the value of everything that you own and keep at home, double it and that should be the minimum value of the cover required.
This takes into account anything that you add or replace in your belongings over the course of the year.

If you want to save on premiums then go for less cover, that is what insurance is all about, it is a gamble.

Never ever under insure. If you have £50,000 of contents (at full replacement value) and say to yourself well I want it cheaper I'll go for less cover being £25,000 then if you have a small claim such as £2,000 then the insurance company is within their rights to pay out half being £1,000 if anything at all.