Accidental damage is defined as ‘sudden and unexpected damage to your property or contents by an outside force’. Some renters’ insurance policies include accidental damage cover. Serious cyclists might be better off buying cycle insurance which covers more expensive bikes and includes personal liability cover – this covers you if you hit and injure someone else. Most policies stipulate that your bike must be locked to something securely fixed to the ground with a decent lock to be covered outside of your home. You’ll normally need to list your bike as a high value item. If you’re a cyclist, you should check your bike is comprehensively covered both in your home and outside of it. Other contents insurance policies offer a total cover limit for all your valuables, such as £20,000. Some home contents insurance policies give you an individual cover limit per high value item, such as £2,000. These might be things like jewellery, mobile phones, laptops, art or bikes. When you take out renters’ insurance, the insurer might ask you about ‘high value’ items and ask you to list these separately. These items are fairly likely to be lost or stolen too – for example, how many people do you know who have lost their phones? High value items cover This type of cover is really important because we often carry around our most expensive possessions such as mobile phones, laptops, and smartwatches. This is included as standard on some policies, but you’ll need to pay extra for it on other policies. If you want your stuff to be covered while you are out and about, you’ll need to make sure your policy includes ‘personal possessions’, ‘away from home’ or ‘out of home’ cover. The most basic renters’ insurance policies will only cover your possessions while they are in your home. Electrical items (such as computers, tablets and TVs).Gadgets (such as cameras, smartwatches, and smartphones).The kinds of possessions that will be covered on a renters’ insurance policy include: Tenants’ liability if you damage something belonging to your landlord.Household leaks such as water or oil from pipes or appliances in your home.
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