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Student
Possessions
Endsleigh
is an independent insurance intermediary operating a panel
of insurers for both motor and home insurance. In addition,
Endsleigh offers a range of specialist insurance products
including landlord, rent guarantee, tenants and bicycle insurance
Endsleigh
is the only provider endorsed by the National Union of Students
- Cover
available from just £2500 worth of contents
- New
for old cover available
- Cover
for walk in thefts
Bicycle
Insurance
Endsleigh
offers specialist insurance to cover your bike against theft
and accidental damage, whether you own a mountain bike or
family shopper.
- Cover
against accidental damage and theft in the UK
- Up
to 30 days cover in Europe automatically included
Tenants
Endsleigh
provides specialist cover for those people living in rented
accommodation.
- Cover
available from just £3,000 worth of contents
- An
individual / couple's possessions can be covered within
a multiple occupancy property
- Cover
for landlord's contents for which you are legally responsible
for
- Option
to cover personal effects away from the home
- Option
to pay monthly
Jeffrey
Milner Ltd T/A JML Property Services acts as an introducer
to Endsleigh. Endsleigh Insurance Services Limited is authorised
and regulated by the Financial Services Authority. This can
be checked on the FSA Register by visiting its website at
www.fsa.gov.uk/register/home.do
Endsleigh Insurance Services Limited. Company No: 856706 registered
in England at Shurdington Road, Cheltenham Spa, Gloucestershire
GL51 4UE
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Going
on a holiday? Thinking about traveling for a while? Click
on the logo below for further information about direct
travel insurance.
Renting
a car? Have you thought of taking out car hire excess insurance?
Click on the logo below for further information
New
to letting or renting?
Take
a look at our landlords
advice and tenants
advice guides
Information
for Students on Tenants Contents Insurance
This
is something that is often overlooked, especially those who
have never rented before. For someone who has paid the first
months rent plus a deposit and administration fees to the
university, college, letting agent or landlord direct in order
to move into the property, insurance is the last thing on
their mind.
Recent
studies have shown that less only 1 -20 tenants have any contents
cover at all. Although a conventional home contents policy
will give a basic degree of cover for most insured perils
it is not specifically designed for tenants and there can
be some major gaps in the cover you need. Often the minimum
sum you can insure for will be far in excess of what the tenant
needs, typically a minimum of £10,000 - £12,000.
Most
specialist tenant policies will provide the tenant with cover
starting from £2,500 upwards and will usually cover accidental
damage that you may cause to the landlords fixture, fittings,
buildings and contents. Should the student / tenant accidentally
damage the carpet with a wine stain or hot iron or a work
surface with a hot pan mark, these events will be covered.
Usually the tenancy agreement will make the tenant legally
liable for such damage, any damage found at the time of the
check-out will be deducted from the deposit or security bond.
If the tenant has adequate insurance these events will be
covered, thereby protecting your deposit.
If
a Tenant has a loss through, burglary, fire, flood or other
insured peril, which has damaged their contents and have no
insurance for their personal possessions they are then left
with the cost of replacing the items themselves.
Any
items of personal property (clothes, furniture, computers
etc) a tenant takes into the property it is their responsibility
to insure. Most policies will give an option for basic cover
which can usually be extended to cover high risk personal
items which are taken outside the home, on holiday or Worldwide
i.e. Cameras, sports equipment, clothes, jewellery etc.
In
certain high-risk inner city post codes there will usually
be a requirement to have minimum-security locks on doors and
accessible windows. Do also take into account the conditions
of insurance policies, regarding keeping windows and doors
secured when the Tenant is not in the property. For further
information click on the appropriate insurance company logos
on this page.
N.B.
This information should not be relied on for accuracy and
is presented here without the responsibility of jml Property
Service and the website it is being displayed at. ©jml property
Services 06-05
__________________________
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for a hotel when you visit your student ? - Use the search
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A CAR? Click on logo Below
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The
Property Challenge for Students
National
Landlords Association Press Release 21st September 2006
The
Property Challenge for Students Around 90% of Britain's
students will live in private rented accommodation during
their time at university, which places new responsibilities
on them As the university term begins up and down the country,
the nation's students will be enjoying the freedom of living
away from their families. While many students are given a
room in halls of residence for their first and sometimes subsequent
years, an estimated 90% of students will live in private rented
accommodation for at least part of their time at university.
Finding, paying for and looking after a rented home will be
vital to a successful university career.
Student
numbers place pressure on housing Huge numbers of students
swell the populations of some of the UK's university towns
- for example, the students of Bangor University in Wales
amount to almost 70% of the residents of the town, while the
population of St Andrew's University - which achieved world
fame as the place of study of Prince William - augments its
size by 50% during term time
John
Socha, deputy chairman of the National Landlords Association,
comments:
"For some smaller towns, such as Bangor or Warwick, St Andrews
or Lancaster, the influx of students completely changes the
feel and atmosphere of the place. It also places pressure
on accommodation in the town, as the students all have to
live somewhere: most universities try to accommodate freshers
in halls of residence, who then need to find themselves a
rented home for second and subsequent years."
Living
on a budget - top universities cost top money Students,
whether living in halls or in rented accommodation, may also
be having their first experiences of living away from home
and on a budget. It comes as no surprise that there is a significant
variation in rent levels among different university towns,
with 'traditional' universities such as Bristol. Manchester,
Exeter, London, St Andrews, and of course Oxford and Cambridge
tending to be much more expensive. Rents in Oxford and Cambridge
average almost £80 per week, while those in St Andrews exceed
£75. This compares with around £44 in the cheaper university
towns.
John
Socha continues: "Students pay significantly more for rented
accommodation in the long established universities, where
there is no shortage of students but a relative scarcity of
property available. Other towns where the university is less
well known or may not have its full complement of students
generally have cheaper average rents. For example, bargains
are to be had for students in Belfast, Bradford and Sunderland,
where students pay only around £44 on average. It's not just
the 'prestige factor' - it's the laws of supply and demand
and the fact that premier league universities attract premier
league rents. While students can save money on accommodation
at certain universities, that should not colour their choice
of uni."
Spending
money can be as little as a fiver a week With the student
loan for English students set at £4,405 per annum (£6,170
in London), a student with no other financial support or income
for the year will be living on less than £85 per week. Rent
takes a big chunk of students' cash, on top of which they
need to budget for utility bills, plus the customary one month's
deposit paid upfront.
Says
John Socha: "In Belfast, Bradford and Sunderland, what's left
over after paying rent is more than £40, but it dwindles to
scarcely more than a fiver in Oxford and Cambridge. While
London is, not surprisingly, the most expensive place to rent,
the higher student loans available mean that the capital is
not the place where students are most financially squeezed."
"Many students earn money from part-time or vacation jobs
to supplement their student loans or have recourse to the
'Bank of Mum and Dad' to keep them afloat, and those at the
top universities need the most financial help from their parents."
Dos
and Don'ts of renting Quite apart from the cost of paying
rent, John Socha suggests a number of tips for students that
will help them enjoy their years at university without ending
up with a headache over their rented home. The most frequent
bone of contention between landlords and tenants is over the
return of deposits. Under the tenancy agreement landlords
are entitled to withhold part of the deposit if there are
breakages or damage to the property (beyond fair wear and
tear) or if house and garden are not returned in a clean and
tidy condition.
John
Socha says: "I'd encourage both landlords and tenants to take
photographs of the property so that there is a record of its
condition at the outset. This can avoid disputes at the end
- and, once the Government's tenancy deposit scheme is introduced
next year, will prevent many cases going to alternative dispute
resolution."
Give
and take "To keep relations between landlords and their
student tenants harmonious, an element of give and take is
key." "If students do their best to look after the property
- and that doesn't mean they can't have fun or the occasional
party - most landlords will respond by making sure everything
works properly for the tenants." "If there's a leak or if
something doesn't work properly, let the landlord know so
that he can get it fixed," continues John Socha. "It'll be
a requirement of the tenancy agreement in any case. Be flexible
if the landlord needs a plumber or electrician needs to call
- they start work at 8 am and won't want to wait till a house
full of students crawl out of bed at 11 or 12!" Financially,
problems can arise if there are disagreements between student
sharers or if one or more fails to pay their rent or share
of the utilities on time.
"Agree
between you at the outset who is paying what, and make sure
you stick to it. Pay your rent in priority to other expenses,
so that you are sure that you have secure accommodation for
the whole year. And since Mum and Dad are often guarantors
for the rent, don't embarrass them by failing to pay - they
won't be impressed by having your landlord on the phone demanding
money."
John
Socha warns student tenants not to forget to obtain a student
exemption certificate for Council Tax, "otherwise you'll have
the local authority on your backs and sometimes landlords
get the Council asking for money."
In
terms of insurance, the landlord will take responsibility
for insuring the buildings, but that won't extend to the students'
belongings. With computer and I pod, camera and hi-fi, their
value can be quite significant - so it's a must that students
insure the contents of their rented property.
Another
potential cost for students is a TV licence, if they have
a TV in their shared house or in their room. The rules are
complex but worth understanding as the penalty for not having
a licence can be a fine of £1,000.
In
summary, the private rented sector plays a major role in providing
accommodation to the nation's student population - and also
does much to give students a taste of freedom and of living
independently, on a budget.
"Our
years at university are character-forming and a great opportunity
to gain some independence. Living away from home in rented
accommodation is part of that experience and with a bit of
advance knowledge students can help make sure that problems
don't arise in their new home so that they can concentrate
on their studies and on enjoying their time at uni," concludes
John Socha.
The
National Landlords Association, founded as the Small Landlords
Association in 1973, has members right across the United Kingdom,
including five special corporate members, Birmingham Midshires,
Bristol & West, Mortgage Express, Mortgage Trust and Paragon,
and forty local authorities who are associate members. It
protects and promotes the interests of private landlords of
residential property and represents their views to government,
local authorities and the media. The NLA seeks a fair legislative
and regulatory environment for the private-rented sector while
aiming to ensure that landlords are aware of their statutory
rights and responsibilities. It campaigns to raise standards
in the private-rented sector whilst fostering a professional
and amicable relationship between landlord and tenant
Back
to Property Information
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jml
Property Services are members of the National
Federation of Residential Landlords, National Landlords Association
in the UK and British Chamber of Commerce Cote d'Azur - France
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