Although it's Your Landlord's Responsibility to Protect the Building, it's Yours to Protect Your Belongings. Contents Insurance Provides the Cover You Need to Protect the Things that You Love...
If you have ever been burgled and had the most expensive item in your home stolen, or, had your freezer stop working straight after your weekly shop, you will understand exactly why Contents Insurance is needed. It may not be a legal requirement or even seem like a sound decision when you have so many other monthly outgoings to pay for, however, like any type of insurance policy, it seems a burden until something happens and suddenly it's a blessing.
When it comes to truly understanding the importance of Contents Insurance, imagine yourself being faced with the worst circumstance such as a fire in your rental home and losing all your belongings. Without Contents Insurance, you are facing the stark reality of having to pay put your own pocket to replace every single item. With Contents Insurance, you don't need to worry because you're covered.
TVG Lettings' Mortgage & Insurance Partner, Right Click Finance, can help to ensure that you are protected if the worst were to happen. They search over 80 Lenders to find the best protection policy for your circumstances. If you are interested in speaking to a member of their team, call them on 0151 734 6777 or ask us for more information.
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In the insurance industry, they often tell you to imagine contents insurance as the protection for things that would fall if someone was to turn your house upside down. This cover provides protection in the event that your possessions are lost, damaged or stolen, depending on the policy chosen and items in question. Most Contents Insurance policies cover:
Furniture - Sofas, Tables, Chairs, Beds...
Electrical Items - Televisions, Laptops, IPads, Mobile Phones...
If your rental home was partially or fully furnished, it is likely that your Landlord has insured the items that they own.
How Does Contents Insurance Work?
When you take out a Contents Insurance policy, you will be prompted to choose from a few options of cover.
New-for-Old-Cover: This means that your insurance provider will pay for a brand new version of the item that has been damaged, lost or stolen. The cost of the item will be equivalent to the price that you paid. This is why it is important not to under-insure yourself. Premiums tend to be higher with this type of policy.
Indemnity Cover: This type of policy tends to be cheaper than the New-for-Old-Cover because this cover takes wear and tear into consideration, based on how long you have had your item for. With wear and tear, the value of the payout you receive may be a lot less than you originally paid for it.
TVG Property Management t/a TVG Lettings introduces to Home Legal Services Liverpool LLP t/a Right Click Finance for the provision of mortgage and non-investment insurance advice. Home Legal Services Liverpool LLP t/a Right Click Finance is an appointed representative of Primis Mortgage Network. Primis Mortgage Network is a trading name of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let Mortgage.
The guidance and/or advice contained within this web page is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.