The Home Insurance Q&A for Renters in Spending
Insurance is always a good idea should the worst happen, but if you’re renting a place, what insurance do you need to make sure yourself and your stuff is safe?
Q: Do I need Building Insurance?
A: No. Building insurance is nearly always your landlord’s responsibility, as they own the building. If you’re unsure, ask. It’s better to find these things out, as Building Insurance covers things like central heating and water.
Q: Can I get Home Contents Insurance?
A: Yes. It’s a good idea to get home contents, as this can cover you should something like a fire or a flood happen in your place. It means that your stuff can be replaced after the damage. But, make sure to check the policy and see what it covers first. You don’t want to be out of pocket because you thought your contents insurance covered it!
Q: What is Accidental Damage Insurance?
A: This is insurance that means you don’t need to shell out lots of money if you accidentally damage something in the property – like spag boll stains on the carpet, or a broken window. This can help make sure you get your deposit back at the end of your renting period too.
Q: Could I not just get all this kind of stuff under one policy?
A: Yes! There are tenants insurance policies that will cover you for a number of these things. It can also offer different policies if you live in a shared house or flat and can cover things like alternative accommodation in case there is a fire or flood at your place.
Q: I’m a student sharing with a bunch of other people in the flat – can I just sort myself out if other people don’t want to get joint insurance?
A: Yes. This is a good option if you’re still studying. It can cover things like textbooks, laptops and bikes, and also cover you if stuff inside your room is stolen. The main thing you need to ensure is that your belongings are safe and secure – which can range from getting a lock on your bedroom door (if your landlord agrees!) to marking your bike on a national database – all of which can reduce the cost of your insurance.