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Zurich
Insurance claims that UK Tenants are gambling with their possessions
according to survey
Released
26th March 2008
Summary:
Zurich Insurance have recently carried out a survey on tenants
and found that tenants are gambling on the fact that they
need not take out insurance on their personal possessions.
This is quite a gamble as many tenants could have a least
£10,000 of personal belongings.
According
to Zurich
Insurance UK tenants are gambling nearly £8 billion of
personal possessions by not protecting themselves against
crime or bad weather.
The
survey published in February 2008 reported that almost a million
private tenants representing 37 per cent of those surveyed
confessed that they have no home contents insurance even though
the fact that a third said they estimate their personal possessions
to be worth more than £10,000 in value.
"With
more and more people now renting property this is exceptionally
worrying says" Philip Suter of jml Insurance.com. Apart from
running jml insurance.com,
he is still very much involved in the letting business as
he has been for nearly thirty years.
According
to the Zurich
survey tenants will often not bother to pay for insurance
on their rental property and instead use money for holidays,
clothes, socialising or debt repayments. Some tenants believe
that their Landlord's insurance will cover their personal
possessions and Philip said this does not happen.
Philip
went on to say, "tenants are really leaving themselves exposed
like this. Companies like HomeLet
and Endsleigh
offer very good insurance packages for tenants and premiums
can be even being paid monthly. What happens if a rental property
is broken into and the computer stolen? - The landlord's insurance
won't cover this and so the tenant has to buy another."
The
Zurich survey reported that nearly a quarter of those questioned
said it would take over two years to replace the stolen items
and some thought they would never be able to replace them.
Tenants
do need to realise that they must take out insurance on their
own possessions when they rent. Some of the policies like
those operated by HomeLet are actually
portable, so if a tenant moves the policy can be transferred
to the new address.
Students
who are renting are just as vulnerable, Endsleigh and HomeLet
both offer policies for students and a student of 2008 will
normally own a computer, ipod, hi-fi system, mobile phone,
pedal cycle, dvds, television, dvd player and a fair collection
of clothing. When you look at the replacement costs it soon
adds up and this is something that a student or a parent should
look at in great detail according to Philip Suter.
More
information can be found at the jml insurance website http://www.jml-insurance.co.uk
Ends...
Company
Information
jml
Insurance.co.uk is part of jml
Property Services, the trading name of Jeffrey
Milner Ltd. The company is an UK based company that was
established in 1979. jml insurance acts as an introducer for
insurance companies selling property insurance including landlord
and tenant rental products, pet insurance, wedding insurance,
motor insurance, car hire excess insurance, travel insurance
and non standard insurance products. They also operate jmlvillas.com
an online marketing service for owners of holiday home property
to advertise and are part of the jml
Group that includes jml
Training and Consultancy.
©
jml Property Services March 2008
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Also
Insurance
Industry Press Releases -2008
Insurance
Industry Press Releases 2001 -2007
Independent
insurance Articles
jml
villas.com Press Releases
jml
villas.com / euro-rentavilla.com Media Coverage
jml
Training and Consultancy Press Releases
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