You have secured a tenancy and are just waiting for the day you can collect the keys and move in. Utilities, council and TV/Broadband supplier have all been updated or instructed to be ready for the day you move in… so what are the next steps?
The next thing you need to do is secure tenants insurance. As we all know, insurance is not the most exciting of subjects. However, it is an essential part of day to day life and is something you should have whether you own your home or are a tenant. Here are some of the most important things to consider when deciding whether or not to secure insurance for your rental:
1. Despite what you may think, tenants possessions and the contents of their rental are NOT covered by the landlord’s insurance policy.
2. Did you know that if your tenants insurance policy has cover for accidental damage to landlords property, contents, fixtures and fittings, this could be used to save you losing some of your rental deposit. While this is subject to terms and conditions, it could help save you from paying for accidental damage such as a burn to a kitchen worktop or iron burn to a carpet.
3. Do you need to have any personal or occupiers liability cover? What about if you place a rug on a slippery floor and a third party slips and breaks a leg? Again, the landlord’s policy would NOT cover this as they do not own the rug and did not place it within the property. Most standard tenants insurance includes personal/occupiers liability cover.
When deciding if you need tenants insurance, ask yourself this question: can you afford to replace your possessions if they are not insured and you have a fire, flood or theft at the property? Tenants insurance can help alleviate the costs of replacing your possessions should they be damaged or stolen from your flat.
There are many more reasons why you should have insurance for your own possessions and liabilities. The process of obtaining a quotation and cover is simple, simply visit the WeLoveTenants website and select Inspired Bletchley or Inspired Rushden as your letting agent. Next, follow the simple process to obtain a quotation or cover.
Should you require assistance, please don’t hesitate to contact One Broker on 01223 792297.
If you would like to know more on Milton Keynes housing market or receive a copy of our full monthly report, please contact the office on 01908 373580 or pop into the office at 181 Queensway, Bletchley, Milton Keynes, MK2 2DZ.