Tenants guide to buying Home Insurance

University Living

Knowing what home insurance you need when renting a property can be somewhat confusing, we’re here to make it easier for you.

I’m renting a house, what insurance do I need?

This is probably the last question on your mind when you are looking to move into your new home, but it’s important! I know, where should the TV go and where should I hang my favourite print is much more interesting, but making sure your possessions are covered if something should go wrong needs to be on your to do list.

Whether you are renting a flat or house by yourself, with your partner or friends, it’s crucial you purchase contents insurance if you want to protect your precious belongings from loss or damage. Whilst this is not a legal requirement when you rent a house, some landlords may insist you have it.

What does contents insurance cover?

If you purchase a Budget Insurance Contents policy, we will cover you for repair or replacement of your belongings if they’re damaged, lost or stolen. Contents cover is available from £15,000 to £99,000. Typically contents insurance policies cover things such as; your clothes, electrical equipment, furniture, jewellery and soft furnishings.

If you want to be extra cautious Budget Insurance have some great extra products that you can purchase such as Keycare. With our Keycare product you have a registered fob, so if you lose your keys and someone finds them, we can get them back to you. We also reward people if they hand in any found keys, after all caring is sharing! If you can’t get into your house, we have a 24 hour helpline and can send locksmiths out to fix the problem, quickly and easily. If it’s your car keys you have lost, we will reimburse you up to £40 per day towards vehicle hire for 3 days whilst you get a new set of keys sorted.

What about buildings insurance?

One of the advantages of renting a property is that you only need to protect your things within it, the actual building itself and any of the landlord’s furniture is the responsibility of the landlord. For example if you have any fire or flood damage you need to get in touch with your landlord.

What about students in house shares?

When living in a house with a few people, it becomes even more important to make sure that your belongings are protected. Accidents happen and the more people you live with, the bigger chance there is of someone accidently leaving the door wide open and your property being stolen. You can either have an individual policy or a group one, however this will need to be amended whenever anyone leaves or enters the property, which is fine if you are on top of your admin, otherwise a single policy is advisable.

Get covered today and purchase your Budget Insurance Contents policy here

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We’re currently experiencing a high volume of calls into our contact centre and whilst we are doing our very best to maintain service levels, we ask that you only call our contact centre if absolutely necessary so we can keep our phone lines available  for vulnerable customers and those who don’t have access to online services.

If you need to check any details or make a change to your policy, please  log in to your Self-Service Centre. It will be much quicker for you to make changes to your policy online at the moment. Once logged in, you can also use our Webchat service which is available Monday- Saturday 8am-6pm and Sunday 10am-4pm to make changes, accept or decline your renewal or if you need to let us know about a claim. To log in, please click here.

We also have some other information that may be useful. Click here to read our FAQ’s, and information on what we are doing to support key workers can be found here.