The first thought that comes to mind when renting a home is that the landlord has it all covered, whether it is the insurance or a shower tap. However, with time or maybe in the event of a fire or flood, you will understand that it might not be the case. Why find out the hard way when by prudence and wisdom, you can learn from the start to protect yourself and your belongings by getting insurance?
Although accidents are unavoidable when renting a home, the subsequent payouts and deductions from your initial rental deposit don’t have to be. By ensuring you have the most adequate and comprehensive insurance, you can make sure you have an economically safe
rental property in London for yourself.
Also, by hiring reputable and renowned estate agents in East London like Barrain Property Advisors, you will be guided through all the complexities that renting a home or property brings with it. Whether you look for a short-term rental or a long-term rental, insurance is a significant part of the process.
What is tenant’s Insurance?
Tenant’s insurance covers all the home contents of your use that are vulnerable to theft or damage. It does not cover anything that is part of the building or belongings of the landlord, but all things that you own that can be damaged by natural events or theft.
How would having an insurance benefit?
There is no law that makes tenant’s insurance mandatory. It is your decision and for your safety. When looking for rental properties in London where you have to spend a portion of your life, any wise person would want to make their stay a safe one. Therefore, if you wish to draw a safety net around your things that are worth a fair amount of money, you need to have a renter’s insurance that will provide you with it. In the event that your landlord may have a building-only policy that does not cover anything except for the walls, roof, or things they own, it would be of no benefit to you.
Does tenant insurance also cover the building?
No. The home insurance for tenants only covers your contents. The building is a landlord’s property who is responsible for its repairs which include the fixtures and the fittings. Things that you cannot move with you are all landlords’ responsibility. Usually, landlords have their own insurance, which again is their choice a not something mandatory. However, some tenancy agreements might require the tenant to pay for the buildings insurance
What are the best tenant insurance policies?
The best policy for a tenant is one that meets the tenant’s needs and circumstances. Also, you have to get a tenant’s insurance quote to determine how much you will have to pay. There are various policies that cover all your personal items with just a few exceptions, giving you a new for old cover.
