We recommend all tenants have insurance, policies are generally for 12 months, here are a few frequently asked questions from people as found on our partner insurers website.
1. Why do I need insurance?
To cover the cost of replacing your contents and to avoid losing your deposit in the event of an insured incident the policy includes £4,000 accidental damage to landlords contents, fixtures and fittings as standard. It may be a condition of your tenancy agreement to have insurance in place for accidental damage to your landlord’s contents, fixtures and fittings.
2. My tenancy is for 6 months why is this policy for 12 months?
To reduce the cost of administering the policy and therefore the cost of insurance. If the policy is not used (no claim made) it can be cancelled with a pro rata refund given subject to a £10 administration fee and a minimum refund amount of £10. Remember – if you move to another rented property, we will not charge you administration fees for amending the address.
3. I am living in a shared house do we each need a policy?
You do not need a policy if you have a joint tenancy agreement, although you may prefer to. If you have separate tenancy agreements you will need to take out individual policies.
4. What is accidental damage and why do I need it?
The policy includes accidental damage to landlords contents, fixtures and fittings automatically but not accidental damage to your own contents unless you add your own contents to the policy. Opt for the Premier or Premier Plus packages to include your own contents. Accidental damage would be an incident such as spilling paint over a carpet or knocking a vase off a table.
5. What is meant by valuables with a limit of £1,000?
All items of this type are insured to a maximum value of £1,000 unless you have told us about them and they appear on your schedule, these are any of the following - television, radio, recording and audio equipment, jewellery, gold, silver and articles of precious metal, personal computers, clocks, watches, cameras, furs, pictures, works of art and curios, stamp, coin and other collections.
6. What is meant by Personal Possessions?
These are items that are kept on or about the person and taken outside the home, items such as - valuables, personal effects (jewellery, gold, silver and articles of precious metal, watches, cameras, furs, mobile phones, tablets, laptops, cameras, etc.) and clothing. They have a £1,000 single article limit unless specified on your schedule.