Oldham Council, working in partnership with Oldham Housing Investment Partnership (OHIP), have set up a home contents insurance scheme for OHIP tenants.
The Fair Home Contents Insurance scheme is payable by weekly instalments, has no excess to pay in the event of a claim, no minimum security requirements and the application process is simple.
There are two different kinds of cover available.
- New for old - In the event of a burglary, fire or flood your insurance company will pay out what it costs to replace the items taken or damaged.
- Indemnity cover -This policy will only pay out for the current value of your possessions. For example if your TV cost £1,000 to buy new, you will only receive enough to cover the TV's current value which could be as low as £200.
Contents insurance should cover all of your personal belongings; anything you would take with you if you moved; e.g. furniture, CDs, DVDs, carpets, curtains, jewellery, electrical goods, books and kitchenware as well as garden items, bicycles and anything stored in a shed.
To work out how much contents insurance you need, make a list of all the rooms in your house and under each room write down everything that is in that room. Once you have your list, make a note of the total worth of all of your contents to work out how much insurance protection you need.
Always check what exactly is included in the policy; it’s possible that you may need to include Additional Options, Extended Cover and Accidental Damage
- Personal Possessions Cover - for items that you take outside e.g. wallets, jewellery, laptops etc.
- Legal Cover - to pay for court costs
- Accidental Damage - for things like paint spills on your carpet
- Home Emergency Cover - for plumbing, heating and other emergencies
- Freezer Cover – in case of damage or power cut [research shows the average freezer contains £173 worth of food. Source Confused.com]
- Christmas Uplift –the amount of cover extends over the festive period
Ideally you should value your home once a year when you’re renewal is due and make any needed adjustments, especially if you have redecorated or bought new, expensive items.
For further details please get in touch with your housing provider.