Princes Risborough, United Kingdom (PressExposure) June 19, 2009 -- HomeLet the major Landlord and Tenant insurance provider in the UK is releasing a new Tenantâs contents insurance product. The insurance provider has been listening to customer feedback and introduced âTenantâs Contents Insurance +â.
The company acknowledges that it is becoming more and more common that tenants share the cost of renting by sharing their home with a friend or colleague. The new policy allows for up to three people to share the same policy as long as they are employed and not a full time student. (HomeLet have other insurance products for the student market).
They have also looked at the minimum cover they offered and have decided to double this cover at no extra cost, They believe that tenants often under estimate the value of their personal items and HomeLet were concerned that they could be under-insured.
The post code lottery was another area they made a thorough review of. If a tenant lived in a certain area the risk could much higher and consequently the tenants pay a lot more for their insurance cover. Their research has revealed that some of the areas that they had classified as âhigh riskâ had been greatly improved and consequently should be in lower risk bandings saving tenants money.
Finally they looked at one of the most important elements for a tenant. The prices in those areas that are still in the higher bandings. HomeLet have realised that they were a little uncompetitive and prospective tenant customers have gone to other providers. So they have updated these areas as well to make them more competitive.
Philip Suter of jml-property-insurance said âWe have been a HomeLet agent since 2002 and we are sent copy letters to tenants confirming the cancellation of their insurance, usually because of price and the fact that they have found a cheaper alternative.â
âIt is so important that tenants make sure their possessions are properly protected in light of a predicted surge in property crime due to the recession and rising levels of unemployment. This new HomeLet tenant insurance product is at a very competitive price and easy to arrange on line via a link from the jml-property-insurance.co.uk websiteâ http://www.jml-property-insurance.co.uk
Philip went on to sayâ Tenants often think that a Landlordâs insurance will cover their possessions, unfortunately this is not the case and with so many renters having expensive items like computers, iPods, mobile phones and more, they must make sure that they are properly insuredâ
John Boyle the Managing Director of HomeLet saidâ Our new policy â Tenantâs Contents Insurance+ is even better value for money than before, it still covers accidental damage to the landlordâs contents, buildings, fixtures and fittings up to the value of Â£2,500 and now there is a higher level of cover for the minimum sum insured which has changed from Â£2,500 to Â£5,000â.
John went on to say â The new product is ideal for professional people who are sharing as it can cover the policy holder plus two additional tenantsâ.
John Boyle the Managing Director of HomeLet has held positions as National Sales Manager for AMP and Agency Sales Director for AIG in charge of Eastern European Operations and as the Managing Director of HomeLet, is responsible for implementing a business strategy, augmenting senior client relationships and maintaining the companyâs winning culture. HomeLet is a trading name of Barbon Insurance Group Ltd