1 min read
26th November 2018

Do I need Contents Insurance?

Contents insurance can also be known as:

Even though you don't have to, necessarily, insure the buildings because that is your landlords responsibility, you will still need to protect your own personal possessions. 

Contents insurance policies will cover your:

  • Furniture.
  • Jewellery.
  • Gadgets (laptops, tablets and smart devices (i.e. echo or google home)).

if they are stolen or damaged. We estimated that around a third of renters do not have any contents insurance in place, leaving them at risk. 

As the Millennials generation are now more likely to be renters for longer periods of time, before they can own there own home, than previous generations, a good contents insurance policy can reassure tenants should they fall victim to burglary and offer essential protection for their valuables.

With all insurance polices you should check the cover to make sure it covers you in the way you would expect. You should pay particular note of the policy excess (which is the amount of any loss that you will have to pay yourself before the insurer will step in) as some insurers increase the excess to give a lower premium.

From speaking to our claims teams the most common reasons why claims fail are:

  • The claim is below the excess
  • The level of cover is wrong (note that if you have valuable items such as bike, laptops, mobile phones , musical instruments that they may have there own separate section and to be covered would need this section selected)
  • Failure to provide proof of ownership (we would always you to keep receipts and/or valuations for expensive items).
  • Under insurance - the easiest way to avoid this is by insuring your items up to the cost of replacing all the items as new.  A good way to do this is make a list of everything you own and the cost of replacing each item. You will be surprised how much you do own


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