Renting students should consider contents insurance

Renting students should consider contents insurance, says Insurance & Savings Ombudsman

A recent burglary in Hamilton highlights the need for students in flats to have contents insurance, says Insurance & Savings Ombudsman Karen Stevens.

A number of students had their laptops and other personal items stolen at the beginning of the academic year.

“As students are settling into new flats, insurance might be the last thing on their minds,” says Karen. “But doing something now could save a lot of stress later.”

“Your landlord’s insurance policy will not protect your personal belongings,” says Karen. “And, what’s more, you could be held liable for any damage that you or their guests cause to the landlord’s property.

“Many tenants are unaware of this risk. For example, if an accidental fire damages the landlord’s kitchen, you could be personally liable to pay up if you don’t have contents insurance.”

“It is wise for all tenants to have contents insurance, not just to protect their own belongings, but also to help protect against the risk of being held liable for damage to your landlord’s property.”

Individual insurance companies will have details on their policies.

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