Common pitfalls with tenant insurance on comparison sites

Comparison sites can be a great tool for finding the best deals on many things, including car insurance and travel. However, when it comes to tenant insurance, relying on comparison sites can sometimes lead to unexpected problems.

Here are a few common pitfalls:

Price comparison: Clue's in the name. Products on these sites do not compete to give you the best product to protect your belongings in your home. They're competing to be the cheapest.
Lack of clarity around the excess: It's very easy to get tangled up in the various excess options. Whether the excess is standard, voluntary, or forced - are you sure you understand what you need to pay in the event of a claim?
Additional fees: The product that comes out cheapest might have a £50 cancellation fee, meaning it's actually not that cheap when you come to move.
Absence of tenant-specific policies: If you rent a property and have a home contents policy, you may be paying for features you don't need and missing features you do. It's always best to check that you have the right product for you.
Limited coverage options: By prioritising price, valuable optional extras may not be made clear to you, meaning you may miss out on some of the more frequently claimed-on areas, such as accidental damage, which makes up almost 33% of claims.
Difficulty comparing like-for-like: Policies can vary greatly in terms of what they cover. A comparison site might show you two policies with seemingly similar prices, but one might be significantly inferior when you read the small print.
Lack of personal advice: Comparison sites are designed for self-service. If you have specific questions about your circumstances or need help understanding your policy - you're on your own.

Why use a broker instead?

Using a broker like us, here at Ultralets, offers several key advantages:

£0 arrangement fees: Giving you an experienced professional to guide you through the process. We do all of the work for you without charging a fee.
£0 additional fees: All of our tenant-specific policies can be cancelled or moved to a new address (even if it's not an Ultralets property) without a fee.
Completely personalised advice: We take the time to understand your individual needs and circumstances. Then, we can recommend the most suitable policies from a range of selected insurers that offer specific coverage to tenants.
Help with understanding: Our experienced team want you to be fully informed about what you're paying for, the value it gives, and how much you'll pay in the event of a claim.
Access to exclusive products: We have access to exclusive products that may not be available through comparison sites.

Don't let the pitfalls of comparison sites leave you underinsured. Contact Jack today for expert advice and a personalised tenant insurance quote. Drop us an email or give us a call.

Posted By

Jack Newton