There is a lot of focus on helping landlords better protect themselves and their property from potential claims from tenants, but many renters are often left taking major risks when it comes to their own belongings.
A number of landlords possess comprehensive landlords insurance that covers them against damage to the property, but this often does not cover tenants.
In the event of a fire, for example, the landlord’s property would be insured and he or she would get money for the loss of the building, but the tenant’s contents may not be covered, meaning that a tenant could lose all of their belongings and get nothing back.
However, many people who rent their homes do not possess contents insurance, research shows, meaning that they are taking a risk with their personal items if their property is broken into or damaged.
Students, in particular, are taking a big gamble with their personal items by having no contents insurance and are leaving themselves unprotected by having nothing in place, which is a concern ahead of a return to university next month.
Research by UNIDAYS and insurance company Urban Jungle has found that just over half - 51% - of students currently renting, or planning to do so over the next few months, have never thought about getting contents insurance.
The poll of 1,680 students revealed that less than a fifth - 18% - have contents insurance, while 17% felt they did not need it.
Jimmy Williams, CEO of Urban Jungle, commented: “Students often have some very valuable items such as laptops, tablets and bicycles, which could be very expensive to replace. They are moving to new areas [when attending university], which might not be as secure as where they lived previously.
"Also, accidents do happen, drinks being spilled on computers and phones being dropped in toilets is very common.
"Everyone wants to have a happy and carefree first few months at university and the last thing you need is to be shelling out hundreds of pounds to replace essential items."