If you are one of the many people who live in rented accommodation in the UK today you might want to consider contents house insurance.

Whether you are a student or a long term renter it’s a good idea to have contents insurance, especially if you have possessions that you value. House insurance is not restricted to just homeowners.  There are many insurers who offer products such as student possessions cover, student flat and general renters insurance, so you can insure your living accommodation even if it (as is often the case) is not your own

Andrew Lowe, head of Direct Line home insurance, said:

"If you are renting, you should ensure you have contents insurance which covers the full value of your belongings. Contents insurance is often a lot cheaper than you expect," he added.

A word of warning though, as Lowe said that those living in areas with higher rates of burglaries are likely to have to pay higher premiums.

If you are a student and living in halls of residence or shared rented accommodation, it is worth checking out, specialist student insurers as well as other insurers who offer contents insurance, for the best deal.

It’s safe to say that whatever your circumstances, whether renting on your own, a student, sharing with friends or living as a couple there will be specially designed policies to suit you.

In some cases you will be covered by home insurance that has been taken out by landlords or whoever is responsible for letting or renting the property. Because there is no legal requirement in the UK to take out house insurance it is always worth checking with your landlord or letting agency about whether there is in fact any contents insurance for the place you live. In the event that you are the victim of a burglary and lose some valuable possessions you will almost certainly lose out if there is no house insurance. If you are worried about your possession then it is advisable to acquire some home contents insurance. 

The risks associated with letting or renting property can be substantial and are often quite different from those experienced by owner occupiers. It's so easy to overlook the importance of having the right insurance cover. Landlords sometimes rely on normal household cover, and tenants don't bother with insurance at all -  both are taking unnecessary risks.