IT is critical to have Renters Insurance in place in the downturn as people struggle to make ends meet and any sort of loss, theft or disaster could end up financially ruining tenants or landlords alike.
Renters Insurance is designed to meet the precise needs of tenants or landlords alike. For tenants it gives peace of mind that their contents and possessions are covered against theft and damage whilst for landlords it ensures their asset of a building is covered against major loss.
With the full impact of the recession now biting countrywide it can be no surprise to see tenants struggling to meet their rent commitments and landlords are of course equally affected unless they have the correct insurances in place such as – rent guarantee insurance – which is widely available when you buy landlords insurance at a premium of around £75-£120 and offering rent coverage up to £2500 per month typically.
Whilst there are no readily available stats to map the trend in purchasing of renters insurance, typically insurances are one of the first sacrifices to the family budget in times of hardship.
Our message is that this is vital cover and discard renters insurance at your peril; it provides vital protection to the valuable items and possessions in the home. A good example being home entertainment, at a time when we are all going out less TV’s, computers and games consoles become increasingly important to most families and to replace these would be expensive if they were stolen. You can even get cover now for accidental damage in the home which is good news for everyone.
If you have existing insurance think very carefully before discarding the cover, it is a false economy. If you haven’t considered Renters Insurance before you will be surprised how cheap cover can be for that extra peace of mind.