From memories to must haves: why residents should consider home contents insurance

As residents get older, their homes often fill with a lifetime of memories - from favourite armchairs and family photos to treasured ornaments and everyday essentials. Yet many still assume their landlord’s buildings insurance will cover their belongings if something goes wrong.

When we think of home insurance, we generally think of two types of cover: buildings insurance and contents insurance.

It’s important for residents to understand the difference and which type might apply to them.

Buildings insurance vs contents insurance?

If there’s a major problem, such as a fire or flood, the landlord is usually responsible for repairing the structure of the building, including things like ceilings, walls and floors. However, personal belongings, such as furniture, carpets, electrical items, clothing and valuables, are not normally covered by the landlord. Meaning residents would need to replace these items.

That’s where home contents insurance comes in. It’s designed to help protect the things that make a house a home. If the worst happens, home contents insurance could help residents replace their possessions, rather than having to find the money all at once.

In simple terms:

• Buildings insurance - covers the structure of the home and permanent fixtures.
• Contents insurance - helps protect personal belongings, such as furniture, electronics, clothing, decorative items, and more.

Do residents need home contents insurance if they rent?

Buildings insurance is the responsibility of the landlord or housing association. Whether or not residents take out home contents insurance is their decision, and there is no legal requirement for them to have it.

However, there are clear benefits. Home contents insurance is designed to help protect the contents of the home against loss or damage caused by specific events such as fire, theft or escape of water. When you start to add up the cost of replacing furniture, carpets, curtains, electrical items, clothing and personal belongings, the total can be higher than you might think.

Having this cover in place may help residents avoid large, unexpected bills in the future.

The National Housing Federation (NHF) works in partnership with Thistle Tenant Risks, who provide My Home Contents Insurance. My Home is designed for tenants and residents living in social housing, offering economical and flexible schemes to protect them against a whole range of risks at no cost to you as an NHF member.

Find out more at www.thistlemyhome.co.uk.