Tenants fail to insure their personal items due to the cost of living crisis 

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Nearly half of renters did not insure their belongings in a bid to save money in the face of the cost of living crisis.

A total of 48% do not have contents insurance, with 44% taking this approach to save money, according to new research from Compare the Market.

The research has been carried out as many households across Britain feel financial pressure due to significantly rising energy, food and fuel costs.

Leakage of tenants: among those who have not insured their belongings, 44% say it is to save money

Leakage of tenants: among those who have not insured their belongings, 44% say it is to save money

But by reducing insurance, renters potentially face even greater financial pressure if they need to replace or repair stolen, lost or damaged property.

The study also found that 32% of renters say they are less likely to purchase home inventory insurance due to the rising cost of living.

More than half – at 54% – who have had items lost, damaged or stolen say the value of their property impacted is at least £200.

For more than one in five – at 22% – that figure rises to at least £500 worth of items.


A total of 2,003 adults were surveyed between April 19 and April 21 by the comparison website.

Nearly a fifth of renters don't have inventory insurance because they mistakenly believe their landlord's home insurance policy covers their personal belongings

Nearly a fifth of renters don’t have inventory insurance because they mistakenly believe their landlord’s home insurance policy covers their personal belongings

Home inventory insurance differs from homeowner’s home insurance, which covers the building itself, necessary repairs, as well as the owner’s contents.

Nearly a fifth – or 18% – of renters don’t have inventory insurance because they mistakenly believe their landlord’s home insurance policy covers their personal belongings, such as their cell phone, tablet , their wallet and their bike.

Renters are responsible for having their own contents insurance policy for personal effects.

Alex Hasty from Compare the Market said: “The current cost of living crisis is putting a huge strain on the finances of many people.

“As a result, many tenants are having to cut back not only on certain luxuries, such as dining out, but also on essential expenses, such as contents insurance, to help ease the burden of soaring living costs.

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“As household bills and inflation continue to rise, we understand that people will be looking to cut spending during this difficult time.

“However, not having coverage on personal property in your rental property could be costly, should those items be unfortunately misplaced, stolen or damaged.”


Here are some of the ways tenants can save money by not shelling out unnecessary expenses.


If furniture and soft furnishings in the rental property don’t meet certain standards, make sure the landlord pays for replacements that do.

This includes all furniture, which must be fire resistant or treated with flame retardant coatings.

This must be detailed on the manufacturer’s tag, which must legally be attached to the item.

If the tag has been removed or does not indicate that the furniture is fire resistant, the owner is legally required to remove or replace the item.


When renting a property, the landlord must provide you with an inventory of the items included.

It should list all furniture and appliances in the property, with notes on their condition.

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Existing marks and damage to items that were there before the start of the rental may not be listed. If so, it is important that they are added – otherwise you may be charged for them when you move out as there will be no proof that the damage was there before you moved in.

Gas and electricity

It is also important that tenants understand their rights vis-à-vis electricity suppliers.

If a tenant pays for the energy he uses, he has the right to choose the gas or electricity supplier. During this process. tenants can negotiate the best price with suppliers.


Don’t pay for something the tenant is not responsible for fixing.

Generally speaking, a landlord is responsible for repairing most appliances that come with a property, as well as permanent items on the property.

This includes the roof, pipes, windows and doors, as well as fixtures such as gas lines, wiring, boilers, radiators and built-in heaters.

There may be more details about this in the rental agreement.


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