If you are a tenant and rent a home, or a student and  share with others, there is a growing awareness in the insurance industry to offer suitable products to cover your possessions. Landlords are not required to insure your possessions, or the contents if the property is rented unfurnished, therefore the onus is on the tenant to make their own insurance arrangements.

Gone are the days when the limits to cover an individual's personal possessions were £20,000 and upwards. Subject to the insurers’ eligibility criteria, tenants’ possessions can be insured for a little as £3,000 which is more than sufficient for most rented homes. Tenant insurance policies are much more flexible today which means that garages and outbuildings may be covered and students or friends sharing a rented house can even insure their valuables under one insurance policy subject to conditions.

Statically the greatest risk to rented accommodation is theft, followed by accidental damage and fire. Many rented homes insurance policies offer accidental damage cover to personal contents such as computers, hi-fi and clothing as an optional extra. Some companies will also insure portable items such as laptops away from the house for an additional premium. Look out for rented homes insurance products which offer cover for freezer food and legal expense cover to help with any disputes that may arise.

Most home insurance companies offer a range of discounts if certain home security measures meet with their approval. If you are unsure what type of door and window locks have been fitted, check with your landlord and you maybe entitled to an unexpected insurance security discount.