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When you decide to rent a property with us in Ripley, East or West Horsley, Bookham, Cobham, Cranleigh, Dorking, Effingham, Esher, Ockham, Merrow, Peaslake, Send, Send Marsh, Shere Village, West Clandon, Woking or any of the properties let or managed by Wills & Smerdon we will always advise you to take out a tenants insurance policy.  This is not because we are just trying to sell you something, it is because we know that so many tenants end up living in their rental homes without insurance and are then surprised if something happens, that the landlords insurance does NOT cover their own possessions.  Landlords can only insure items in which they have an "insurable interest" so the tenant needs to insure their own goods.  It is so commonplace, especially in apartment buildings, where leaks can occur from the flat above, or older houses, which can suffer from burst pipes or all sorts of 'old-age-related' issues, for tenants to have items damaged over the course of their tenancy, and be shocked to realise that there is no cover in place to help replace the damaged or lost items.

So, when you have passed your referencing process, you will be asked if you want to take out an insurance policy.  This is not mandated (meaning you can easily say no) but please give it the consideration it deserves!  Here are some of the main reasons to consider a tenants insurance policy when you rent a property:
  • Tenant's insurance can provide financial protection for your personal belongings, such as furniture, electronics, and clothing, in the event of theft, fire, or damage caused by incidents such as flooding. Without insurance, you could be left with a significant financial burden to replace these items. 
  • You can include 'accidental damage' in your policy, and this cover can be particularly useful to protect against unintentional damage to the rental property, such as spilling red wine on a carpet or accidentally putting a hole in a wall. If you are found responsible for damage to the property, your landlord may hold you liable for the cost of repairs, which could be expensive and may mean that you lose a chunk of your security deposit.  Having tenant's insurance with accidental damage cover can help to meet this requirement and give you peace of mind that you are meeting your contractual obligations.
  • Some landlords may require tenants to have insurance as part of their rental agreement - for instance if they have a pet in the property.  This is likely to become more important when the Renters Reform Act comes into force, and more landlords will be required to consider allowing pets in their property.
  • Your tenant's insurance policy can also cover personal belongings that are away from the rental property. This is known as "personal possessions cover" or "personal property cover" and it can provide protection for items such as laptops, smartphones, and jewelry that you take with you when you leave your home. The extent of the coverage for personal belongings away from home can vary depending on the policy you choose.
  • If you have outside space at your rental property, and intend to have garden furniture, a shed, or barbecue, then it is very wise to take out a policy which also covers outside items, if they are damaged or stolen.
Some policies may offer full coverage for loss or damage to your belongings, regardless of where they are, while others may have limitations on the amount of coverage or specific circumstances in which the coverage applies. It's important to check the details of your tenant's insurance policy carefully to understand what is covered and what is excluded. If you have valuable items that you frequently take outside of your home, you may want to consider adding additional coverage or "specified items" cover to your policy to ensure that these items are fully protected.
We are confident that the tenants insurance policy provided by our recommended insurer "Lettings Hub" will be competitively priced, but we are happy if you choose any policy, so long as we know that you are covered for any eventuality, or that you totally understand the consequences, should something happen at your rental property, and you are not insured.