It is very easy to underestimate the cost of replacing all your possessions in the event of an extreme occurance such as a fire or flood. We recommend that all our tenants take out a contents insurance policy to cover their own belongings and there are instances where our landlord’s require the tenant take out a policy that covers them against accidental damage to the landlord’s possession. In our opinion, the relatively minimal cost of this type of insurance represents incredibly good value. In effect, you are insuring your deposit against accidental damage.
We have extensively researched the market and can recommend HomeLet and Endsleigh who offer a policy that covers both contents insurance and tenant’s accidental damage at a very competitive price. They also have an extremely good record with regards to claims and settlement.