Insurance- One size does not fit all

Household Insurance used to be just about Building and Contents Insurance, nowadays people lead such varied lives that many specialist insurances are available and it’s well worth spending a bit of time exploring the options. Here we focus on three examples where specialist insurance will really pay dividends in the event of a claim: Landlord Insurance, Student Insurance and Specialist Items.

Landlord Insurance

Britain used to be referred to as a nation of shopkeepers and landlords and there has certainly been a big boom in the number of people renting out a property as an investment. Even if you don't think of yourself as a landlord, having tenants in a property requires levels of cover not provided by ordinary home insurance. It’s very important for private landlords to have tailored insurance and there are a range of providers with specialist products such as More Than and Directline. These can insure the rent itself or cover accidental damage, very important if you are renting out a furnished property.

James Davis, CEO of Upad.co.uk; the UK’s largest online letting agency comments:

‘In the UK today, nearly half of all landlords self–manage - approximately 1million landlords. It’s important landlords communicate on a regular basis with their tenants, so should there be a change of circumstance, you are able to manage the situation. That said, and especially in the current economic climate, I  recommend landlords take out rent guarantee insurance; a product most insurance firms now offer – for that complete piece of mind’,

On Campus, On Show

With more and more young people now going to University, it is also important that their possessions are adequately insured when they are away from home. Many items may be at more risk in such a crowded community.  Many household policies cover this but often there are restrictions.  It’s really important to ensure that all valuable items such as computers televisions and cameras are fully insured.  For example, students who still reside at home and whose parents are insured by More Than Insurance will have general cover and they provide a range of options for extending cover.

Specialist Items

Often, general policies can fall short when it comes to specialist items. It really pays to think long and hard about those items you have that add that little bit extra to your life. These can range from Garden Sheds, Laptops, Cameras, Bikes and Gym Equipment. The range of options available is huge and it pays to compare providers and quotes using the comparison sites such as moneysupermarket.com or moneysavingexpert.com.  Also innovative providers such as More Than and Direct Line are good websites to visit, providing good advice and knowledge as well as a quote facility.

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