Many renters could end up significantly out of pocket if they are burgled or have an accident with their possessions due to a lack of insurance, a website is warning.
GoCompare said less than one in 10 (7%) of home insurance quotes are for customers renting homes, despite about 16% of UK households living in private rented accommodation.
Landlords’ insurance tends to cover the building and possibly some contents such as white goods and fixtures and fittings, but this will not generally cover tenants’ belongings, the website said.
A lot of those in private rental accommodation are leaving themselves open to being majorly out of pocketRyan Fulthorpe, GoCompare
Contents insurance covers items that are not fixed down permanently in the property.
It can also include accidental damage cover, as well as specific items such as jewellery or tech.
Ryan Fulthorpe, from GoCompare home insurance, said: “A lot of those in private rental accommodation are leaving themselves open to being majorly out of pocket should they be burgled or have an accident with one of their high-value items.”