Renters urged to take out home contents insurance
Renters should ensure they have home contents insurance or risk suffering significant financial losses, an insurer has said. According to a poll conducted by Zurich Insurance, 33 per cent of tenants keep goods worth £10,000 in their accommodation. However, 37 per cent of respondents confessed that they have no home contents insurance - thus leaving themselves at risk of serious loss. Reasons given in the study included the mistaken perception that their landlords insurance policy would cover them, which was cited by one in eight. Meanwhile, a quarter said that they thought that the risk to which their possessions were exposed does not merit taking out insurance. Steve Gilbert, home underwriting manager for Zurich Insurance, said: "Be it funding other financial priorities, their lifestyles or even perhaps saving to get a foot on the property ladder themselves, [tenants] need to be aware that not having insurance could cost them dearly in the long run - especially if faced with the daunting prospect of replacing all their possessions."
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