Contents insurance for renters can come in a number of different forms:
- Indemnity policies will take details like age, depreciation and wear and tear of the item into account when paying a claim for the repair or replacement of a damaged or stolen item.
- New for old policies will provide the policyholder with the full cost of repair or replacement of the item, ensuring that lost items are replaced with new ones.
- A bedroom rated policy will estimate the amount of cover a renter will need from the number of bedrooms the property contains.
- A sum insured policy will allow the renter to set the level of cover based on their own valuation of their possessions.
It may also be useful to add accidental damage cover to your contents insurance. Renters will be held responsible for any damage caused to furnishings and fixtures so covering yourself against accidents can be a smart move.
A renter may want to extend their contents insurance to protect their possessions when they are outside the property. This can be especially useful for people who need to take their laptop to work with them.
Getting a number of different quotes based on the various policy types and extras listed above is the best way to get a great deal on contents insurance for renters. The easiest way to do this is to use price comparison websites, or check out our list of the latest deals.