HomeLet - Demand for insurance product for Tenant's contents insurance Doubles

Thursday, October 29, 2009

Thanks to the launch of its new Tenants Contents Insurance + product and increased demand, HomeLet has managed to double the number of policies sold in just six months.

What's more, since 2006 HomeLet has referenced over 1 million tenants, proving it is still the market-leading provider of specialist insurance products and services to the UK lettings industry.

In September 2009 HomeLet sold over double the amount of tenants contents insurance policies when compared to January 2009, with an increase of 121 per cent.

This increase indicates that tenants, who have tended to overlook buying tenants contents insurance in the past, are seeing renting as a more long-term commitment rather than a temporary stop gap.

Since the onset of the recession and the resulting increase in the cost of living and rise in unemployment, the number of burglaries has also gone up. Tenants, who are feeling the pinch along with everyone else, have become more aware of the value of their possessions and the cost of replacing them.

In June HomeLet launched Tenants Contents Insurance + which is designed specifically to protect tenants against the potential risks of renting a property.

As well as being competitively priced, the new product still provides specialist cover that protects the tenant's deposit by providing cover for accidental damage to the landlord's contents, building, fixtures and fittings up to the value of £2,500.

Tenants Contents Insurance + also covers the policyholder and two additional tenants who are named on the tenancy agreement, as long as they're employed, self employed or retired. This means that one policy can cover three tenants saving money and making it ideal for sharers.

HomeLet's Managing Director John Boyle said: "HomeLet has been providing tenants contents insurance for over a decade and we're constantly improving the products that we provide to our customers to ensure that we stay ahead of the market. .

"We are delighted to have achieved a 121 per cent increase between January and September 2009 and this is testament to our commitment to providing comprehensive cover at competitive prices."

Source: www.homeletuk.com

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