insurance
make sure you have it!
Home contents insurance
If you are working to a tight budget or have a low income then home insurance may be one of the areas you neglect or do away with to make a saving. Like all insurance it can seem an inconvenient extravagance until you actually need it.
In rented accommodation your landlord is responsible for most repairs within your home. If a tile falls off the roof they will replace it. If your toilet leaks they will mend it. But they are not generally responsible for damage to your decorations, carpets and furnishings caused by fire and flood etc. Everyone is encouraged to take out home contents insurance so that they are covered in the event of any damage.
There are household insurance schemes available which offer benefits to people on low income or living in rented accommodation.
Schemes specifically tailored to social housing tenants can have a number of advantages over other high street insurance schemes.
- No policy excess
- Policy covers accidental damage to glazing which many insurers will only cover at an extra cost
- No minimum security requirements - many insurers ask that window locks are fitted, particularly in some high risk post code areas
- Premiums can be paid weekly, monthly or yearly - these can be paid in cash and so do not exempt our tenants who do not have bank accounts
- Cover can be arranged over the phone with assistants who are used to dealing with people with reading and writing difficulties and elderly people who may be easily confused
- No annual commitment - cover can be cancelled at any time with no penalties (other insurers often have a minimum term of contract - usually one year)
- Preferable charges for over 60's
To find out more about preferential insurance schemes contact the Money Box team on 01892 501652.
