Some useful claims data here from Tesco Insurance;
TVs, laptops and phones are among the everyday household items renters are most likely to claim for on their home insurance, new data reveals.
Latest figures from Tesco Insurance show TVs (16.47%) top the list of renters’ insurance claims, followed by accidental loss (15.08%), laptops (10.44%), theft (9.98%) and phones (7.89%).
While these items aren’t generally hugely valuable on their own, the cost of replacing several can run into thousands of pounds, with the average renter claim worth £1,423.
That’s despite the average home insurance premium for renters being just £92.28, less than £8 per month.
While renters’ insurance claims are dominated by household items, homeowners are more likely to claim for structural problems such as escape of water, storm damage and subsidence.
| Top 10 home insurance claims for homeowners | Top 10 home insurance claims for renters |
| 1. Escape of water – 27.48% | 1. TV – 16.47% |
| 2. Accidental loss – 10.27% | 2. Accidental loss – 15.08% |
| 3. Underground pipe damage – 7.79% | 3. Laptop – 10.44% |
| 4. Theft – 6.88% | 4. Theft – 9.98% |
| 5. Storm – 6.34% | 5. Escape of water – 8.35% |
| 6. Subsidence – 5.01% | 6. Phone – 7.89% |
| 7. Window/ glass damage – 4.21% | 7. Fire – 3.25% |
| 8. Vehicle Impact – 3.50% | 8. Ring – 3.25% |
| 9. TV – 3.19% | 9. Window/ glass damage – 2.78% |
| 10. Fire – 2.53% | 10. Furniture – 2.55% |
The difference is also reflected in claim values, with the average homeowner claim (£3,747) more than double that of renters (£1,423), mainly due to the higher cost of repairing structural damage.
While everyday belongings account for many renter claims, the biggest insurance payouts are still driven by major incidents.
Fire results in the highest average payouts for both homeowners (£23,300) and renters (£9,031), followed by flooding (£18,354 and £4,986 respectively).
Alex Cross, Chief Customer Officer at Tesco Insurance, said: “Our claims data shows that many renters aren’t claiming for expensive luxury items, but the everyday essentials they rely on most.
“Replacing several everyday essentials like a TV and laptop after a theft, fire or accident can quickly become very expensive. That’s why it’s important for renters to take stock of everything they own and consider the true cost of replacing those belongings if the unexpected were to happen.
“Contents insurance offers reassurance that, should something go wrong, you’re protected against the financial impact of replacing the possessions you use every day.
“With contents insurance costing less than £8 a month on average, it’s worth checking you have the right level of cover for everything in your home.”
For more information on renters insurance, visit: https://www.tescoinsurance.com/home-insurance/contents-insurance-for-renters/
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