Tenants are not covered by their landlord’s insurance policies and some insurers offer products designed for renters.
Landlords are responsible for damage and loss to the property and fittings but tenants are responsible for their own possessions.
When disaster strikes, tenants are often the ones to lose the most and miss out on compensation..
Some rental insurance policies protect against:
- Financial Loss: Fire, burglary, accidental loss or damage
- Accidental damage: Fixtures and fittings of the property
- Legal Liability: Financial cover when damage is a tenant’s fault
Renters insurance can be quite limited in its’ cover so it is important for renters to compare policies, to make sure that they are not underinsured.
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