An insurer says only seven per cent of private tenants bother to get contents insurance.
GoCompare says approximately one in five UK households currently live in private rented accommodation in the UK– that’s 4.5m households – yet only 315,000 of those take out contents cover.
That contrasts with the owner occupied sector - some 56 per cent of the proportion of GoCompare customers who requested a contents insurance quote were mortgaged homeowners, while 36 per cent of homeowners requiring a quote had already paid off their mortgage.
Company spokesperson Ryan Fulthorpe says: “We know that the private rental market is growing quickly, and more people are choosing to rent rather than buy homes due to the current surge in house prices, but this data is concerning.
“A lot of those in private rental accommodation are leaving themselves open to being majorly out of pocket should they be burgled or have an accident with one of their high value items. Landlords take out insurance to cover the contents of a property, but not a tenant’s property, that is their responsibility.”
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