Despite tenants making up only one third of contents insurance customers at
AA Insurance, they were three times more likely to make a legal liability claim during the 12 months to November 2016, according to the insurer’s latest claims data.
The revelation has prompted the company to target uninsured renters in its latest campaign highlighting the importance of taking out contents insurance.
Customer relations manager, AA Insurance,
Amelia Macandrew said: “Our data suggests that, while most consider themselves to be careful, accidents can and do happen, and while the reasoning behind it is unclear, it seems they happen more often to those who are renting.”
Another revelation was that theft also happens more often to renters.
“There were 6% more claims made during this 12 month period than by owner occupiers,” Macandrew said.
“This can perhaps be explained by the fact homeowners are more likely to have security measures installed in their homes.”
Taking out contents insurance was perhaps not a high priority for people moving into their first flat, Macandrew said.
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“They’re more likely to be thinking about their new found freedom, how to make rent and what to eat than they are contents insurance.
“Yet this new lifestyle could come to a grinding halt if the worst happens and they’re not covered.”
They also may think they have nothing particularly valuable to insure.
However, Macandrew said that was why they were stressing the legal liability coverage.
“Even if you don’t think you have anything of value to insure, then it’s worth remembering that insurance protects more than just your own belongings.
“It also covers your legal liability, which means if you accidentally cause damage then your insurer will cover you.”
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