Tenants bypass contents insurance
23 November 2007 16:16:12
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| Survey shows over two thirds of renters don't take out contents insurance |
Only 32% of renters take out contents insurance on their home, while half do not sign a tenancy agreement with their landlord before they move in, a survey shows.
The research from AA Legal Services showed people renting in the UK often neglect to take out vital insurances on their property while as little as 15% carry out safety checks on their new home.
Four out of ten of those surveyed also admitted that they were more worried about the size of the rooms in the property than they were about what was in it.
A further seven out of ten failed to check the inventory of the property, and more than half did not take electricity or water readings when they moved in.
James Molloy, head of AA Legal Services, said: "These findings demonstrate how poorly people protect themselves when moving into a rented home.
"It is vital that you sign your tenancy agreement and check everything, including inventory and utility meter readings, before you accept the keys to your rented home.
"Yet thousands of people are putting themselves and their home at risk."
Copyright © PA Business 2007
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