Insurance cover for a student moving into a shared house

[eyebrook1961]

Hi - I would appreciate some guidance / advice.

My daughter is going back to uni in September to start her second year. She and her friend have chosen to rent a two-bed terraced house and, since they've not had to do this previously, I'm wondering what she needs to be specifically covered for whilst she is a tenant in the house.

Any advice from anyone in the insurance profession would be appreciated

Thank you

 

[ainsworth74]

Check to see what the tenancy agreement says about insurance but, typically, a tenant would need to have contents insurance to ensure anything of their own would be replaced in the event of fire or whatnot. If it's furnished I would expect the landlord to be responsible for whatever is listed as being part of the furnishings (though if the damage is caused by the tenant they'll likely be on the hook). The building itself is the responsibility of the landlord to insure as, after all, it is their building.

But the starting point is double check the tenancy agreement and then start getting quotes for contents insurance from the usual people like Go Compare and Compare the Market. I believe there are specialist contents insurance products for students but I have a feeling they may be aimed more at students in halls of residence but worth double checking that as well.

 

[eyebrook1961]

Thanks for the reply - broadly what I was thinking but wanted to double check before we went and got something

 

[Gloster]

If you have a proper mortgage broker it might be worthwhile visiting their office and dealing face to face. You might not get the absolute cheapest deal, but you stand a better chance of getting a policy that covers all that you do want and as few as possible of those you don’t. A reputable firm will know what questions to ask and mention things you might not have considered.

Regarding the tenancy agreement: check whether there is joint or individual liability for damage. I knew someone who had to find several hundred pounds due to damage caused by one of the housemates’ friends. Hopefully, the university will have kept an eye on the landlords and warned people off the worst Rachmans. (N.b. My knowledge of student arrangements is thirty-plus years old.)

 

[jmh59]

Check your own house insurance too - ours had a clause whereby students possessions were covered while away at uni up to £10k (iirc). Not all our polices had this though.

 

[takno]

I rented for 30 years and never bothered with insurance at any point. My feeling is that the replacement cost of things I'd actually bother to replace was quite low compared to the policy cost, and even if a policy covered accidental (or deliberate) damage to the landlord's stuff, it would likely be difficult to claim. I mostly lived in places where the landlord's stuff could all be replaced at minimal cost.

My overall impression when reading renters insurance policies was that it would be virtually impossible in a shared house to meet the security requirements, and the landlords property was generally excluded, so it's quite possible that it would prove to be completely worthless in practice.

Even as a homeowner, I have the excess ramped up pretty high, because the hassle of making a fairly small claim seems like something I'd be very unlikely to put myself through.

 

[ABB125]

I'm now in my 5th year of being a student. I've not had any insurance for the duration. The landlord's furnishings should be covered by their insurance (assuming of course they have contents insurance!), as should the house itself. Always read the contract carefully though, to see if there are any sneaky clauses in there which might cause problems.
I've never had anything stolen from the 4 houses I've lived in (each time with different people). As long as (external) doors are kept locked, windows shut when the room is not occupied etc, there shouldn't be any problems from opportunist thieves.
A few people I know have insurance for specific items (eg: high value (approaching 5 figures) instruments), but realistically I think the need for insurance is somewhat over-exaggerated. (Admittedly that may be because our family home has never been insured in any way, and that's never caused any issues!)

 

[Puffing Devil]

Check your own house insurance too - ours had a clause whereby students possessions were covered while away at uni up to £10k (iirc). Not all our polices had this though.

Same here. The offsprings contents are covered by our overly expensive, but exceptional cover and customer service, home policy.

 

[eyebrook1961]

To all who responded - Thank you very much for the replies

 

[Gemz91]

When I was at uni (17 years ago) my mums house insurance covered me. I grew up in a low income family, so I’ve no doubt we had quite basic house insurance at home, so even if you’ve got quite a basic home insurance it may cover them too.

For me it came it handy after our house was broke into via a smashed window at the back.