The majority of landlords in the UK are aware of the importance of insurance and get themselves covered with a comprehensive policy. However, whilst landlords stay protected most tenants do not do the same, with very few investing in tenants insurance.

Although they do not own the property and are not responsibly for the actual bricks and mortar, the property does still contain all of their stuff and so insurance should be considered.

Don’t Bank on Landlords Insurance

The main reason tenants insurance should be considered is because it is highly unlikely that any of your belongings will be covered by the landlords insurance. The landlord will most likely have cover to protect the building, his own contents and the rent but not the contents of the tenants.

In the case of a fire, for example, the landlord would receive compensation on his property but without insurance the tenants would be left with nothing.

Protect your Deposit

Another good reason for tenants insurance is to protect yourself against accidental damage. When you move into a property, as a tenant, you will have to pay a deposit and in the event of damage caused, the landlord will take the deposit as compensation.

However, there are of course situations where the damage has not been the tenants fault and there can be disputes over the deposit. With tenants insurance you may be able to avoid this by claiming for the damage in the first place, getting the repairs done and then keep your full deposit at the end of your tenancy.

Room Mates

Finally, you don’t want to be accountable for a flat mates mistakes and if you leave for a weekend and they damage your belongings or the property, you want to make sure that you are covered against it and don’t need to fight them for the money.

Not many tenants realise the importance of insurance but if you want to make sure your belongings are protected against fire, damage or just idiotic flat mates then tenants insurance is a must!

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