Although we don’t offer a specialist policy for renting, here at AXA we recommend contents insurance for all renters. Contents insurance is the perfect policy for those renting a property, protecting your possessions against theft and damage due to fire, flood or storm damage. Tenants should focus on protecting their contents, with the landlord ideally covering any damage which may happen to the property.
Why do renters only need contents insurance?
Although it is not required by law, it is essential for renters to have contents insurance as the landlord will not cover your personal belongings, or furnishings which you have added, under their buildings insurance policy. When you are renting your apartment or home, the building itself is the responsibility of your landlord. What you need to be worried about as a tenant is protecting your personal belongings in the case of an emergency.
What will contents insurance cover?
Contents insurance can help provide peace of mind in knowing that your belongings will be covered if the unexpected happens. You can claim on your insurance to recover the cost of replacements of household goods including fixtures, fittings and decorations inside the property which you have placed. Personal belongings, including clothing and items such as TVs, radios and sports equipment will also be covered. Your jewellery, watches and other valuables will also be protected under your contents insurance policy.