How does our contents insurance work?

If you’re reading this article, you’ve probably been looking at our contents insurance. Great! Ever since we found out that 81% of ‘Generation Rent’ doesn’t have contents insurance*, and 13% don’t even know what it is**, we’ve been on a mission to make a change. We had a think about why understanding is so low, and we designed a policy to make it easier to understand, buy, and manage.

How it works

In short, our policy:

  • Is pay as you go
  • Starts from £5 a month
  • Has accidental damage included as standard
  • Has tenants liability included as standard
  • Is easy to customise – select the add-ons you need
  • Takes less than 5 minutes to buy

It’s simple – you just need to give us some details about yourself (i.e. your name, your address, who you’re living with), decide how much cover you want, and then you can buy!

How is this different from other insurance policies?

It isn’t every day that you come across a policy like this, in fact – we think we’re the first to do it. First of all, this policy is genuinely monthly – you don’t pay in monthly instalments, you pay for a month, and then renew to keep it going. This means that you don’t pay any interest (a lot of monthly payments mean you pay extra, not with us!) and it’s as short or long term as you like.

Secondly, our prices are fixed and fully transparent. It makes for far fairer insurance, because everyone’s given the same price. No matter how old you are, what kind of property you live in, or what your marital status is, you’ll pay the same price for the same cover. We can’t cover everyone, for instance people who live in flood zones, but we cover as many people as possible.

Thirdly, one feature that we’re really happy to have is tenants liability and accidental damage cover included as standard. Accidental damage is one of the biggest reasons for making a claim in the UK, but normally comes as a (rather pricey) extra. The same goes for tenants liability insurance – it can be really helpful to have as a renter, as it can protect your deposit if you accidentally damage your landlord’s fixtures, fittings or furniture. We sell tenants liability insurance as a standalone product, but we recommend getting it included with your contents (when there’s only a few £ different, why wouldn’t you cover your stuff too?)

Another reason to love our policy is that it’s easy and free to customise – this means that you can change it to suit you. If you buy a new phone or expensive item, then you can update your policy immediately and it will be covered. You won’t have to worry about ringing us up or being charged to make changes, you can do it in moments online.

Finally, it’s rare to find a policy that takes as little time to buy as ours. We say it takes 5 minutes to buy, but in reality it can be much faster. Your average insurer will ask you dozens of questions, a lot of which you might not know the answers to, and a lot of which aren’t actually that important. We’ve boiled it down to the essential questions, such as who you are, where you live, and what sort of cover you want.

The chances are that this policy isn’t like any you’ve seen or bought before, so we completely get it if you want to ask us any questions. You can contact us by clicking the ‘chat’ button on our homepage, or you can send us a message here.

If you don’t think that contents insurance is for you, then we offer standalone tenants liability from £40 a year (although, when you could be getting contents from £60 a year, it’s hardly worth getting the standalone), and we also offer gadget insurance for £75 for £1,000 cover on your gadgets.

*81% of ‘generation rent’ doesn’t have contents insurance: The Financial Inclusion Commission, p.18

**13% of renters don’t know what contents insurance is: independent research by Dalia on behalf of Urban Jungle

Read other posts

Sign up to our newsletter

To find out about all of our latest developments, and benefit from any special offers we’re running, sign up to our email list below.