When people rent a property, they don’t always realise that they should take out home insurance. Granted they don’t have responsibility for the insurance of the building and it’s generally right to assume that this is something that the landlord will do, but that doesn’t mean that their belongings inside the property will be covered.
In fact, it’s safest to assume that a renter’s belongings are not covered at all by the landlord’s insurance on the property. So it’s down to each individual tenant to decide whether or not to take out home contents insurance. Some people may think they don’t own enough stuff to justify the annual cost of insurance premiums, but if that sounds like you, just have a quick calculation of what you own. Then imagine how you’d feel if it had all gone up in a fire, and you had to replace it all out of your own pocket. Suddenly an insurance policy doesn’t sound like such a bad idea.
The great thing about finding the best deal on insurance today is that it’s so easy. Just one search through a price comparison website like igo4 and you’ll have a range of different insurance products to choose from in minutes.
If the first quotes you get seem too expensive, there are a couple of ways of getting the premiums down in price. For example, you could agree to pay a higher voluntary excess before a claim. This indicates to an insurer that you will be unlikely to file small or petty claims, and therefore makes you seem like less of a risk in insurance terms. Another way to reduce the cost of contents cover is to lower the value of cover offered. You don’t want to pay for more cover than you actually need.
If you do your research and find some decent quotes but don’t actually want to switch from your current insurer (if you have one) you could always ask them if they are willing to match the quote to keep your business. If they are, great, if not, you still have a cheaper alternative that you could switch to.
The important thing to do is to make sure your possessions are covered, unless you’re willing to risk having to replace them all yourself.