What is tenants contents insurance?

There are lots of home contents insurance products available to purchase.  However, standard cover isn’t always suitable for your needs as a tenant.  That’s why many landlords offer simple, straightforward and inexpensive home contents insurance policies, specially designed for their tenants – called tenants contents insurance.
 
There are a number of different tenants contents insurance schemes available.  Landlords can choose the scheme most suited to their tenants’ needs.  The detail of the schemes differ, but there are a number of common elements:
 
Low premiums – often from as low as £1 per week

No excess to pay on claims
 
You can choose the most convenient way to pay your premiums -  weekly, fortnightly, monthly or annually
 
There’s no need for you to have a bank account

There’s little paperwork since almost everything can be done over the phone.  

What does it cover?  

Tenants contents insurance schemes will cover most of the same things as a standard home contents policy.  In the event of a burglary, fire or flood, your insurance will cover the cost of replacing your personal belongings, including: 

Televisions
Furniture and furnishings
Personal effects
Clothes
Computer equipment
Money
DVDs and CDs
Valuables  

Some policies will also cover accidental damage, theft of keys and damage to freezer contents.  

Contents are covered on a ‘new for old’ basis; this means you will normally get brand new replacement items. The only exceptions are clothes and household linen which cannot be repaired, where an allowance is made for wear and tear.  

What does a policy cost?  

Policies start from as little as £1 per week.  

How do I pay the premiums?  

You can choose to make payments weekly, fortnightly, monthly or annually, depending on your individual circumstances.  

The payment method is also flexible and premiums can be paid in cash so you don’t even need a bank account, although you can pay by Direct Debit or use a debit/credit card if you choose.  

How do I find out if my landlord offers a tenants contents insurance scheme?  

While many landlords do offer tenant contents insurance policies, not all of them do at the moment.  The easiest way to find out is to contact your landlord directly.