Tenants 'should have home insurance'

By Marianne Straker, Fri 27 Aug 2010 - Published in Home Insurance

Home insurance is something that no tenant should be without, a sector expert has advised.

MyFinances.co.uk pointed out that many renters make the mistake of not covering any of their possessions, which puts them at severe risk in the case of a burglary.

While many landlords will have some form of insurance, the source noted that tenants should at least have contents insurance to protect their possessions.

"You may only choose to insure a select number of items within the property you rent or cover everything. The value of the contents you wish to cover is ultimately up to you and the amount you pay for it will reflect this," the website explained.

It added that there are various other things which can influence the level and price of your content insurance policy, including the location of the property and what, if any, security measures have been taken.

Recently, Maggie Craig, acting director general of the Association of British Insurers, said that consumers need to understand what they require out of their cover before making any commitments, which can be achieved by analysing the fine points of policies.

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