Asda Money has rolled out a new flexible contents insurance policy tailor-made for customers who rent, the lender announced today.
This new product provides tenants with the flexibility to choose how much cover they take out, enabling them to protect all their personal belongings without overpaying.
Asda Money will provide comprehensive cover for families renting as well as for students and those living in shared accommodation.
Customers will be able to select the contents cover level they need, with the option of four additional bolt-ons specifically covering personal items, technology and entertainment, pedal cycles and accidental damage. Renters can choose their own cover levels, and change the cover they need as their circumstances change without being charged a fee.
Contents, which starts from £500, covers all items that renters would keep in their home, such as furniture and clothing, pots and pans and freezer food. The personal items cover takes care of items which might be taken outside the home such as handbags, jewellery, watches, and sports and camping equipment. The technology and entertainment covers items such as mobile phones, iPads, satellite dishes, games consoles, musical instruments and electronic data downloads – up to the value of £10,000. Pedal cycle cover insures up to 4 pedal cycles both in the UK and for up to 60 days outside the UK.
Other benefits included are:
- Customers can get a quote online in just 2 minutes
- A flexible choice of cover limits, so customers only pay for what they need
- “New for old” cover
- Cover for anyone renting whether privately, via a managing agent, local authority or housing association
- UK based customer services
- Cover for students at a competitive price
- Technology rates tailored to suit your gadgets
Asda has also optimised the application process for mobile devices, in a move to speed it up, it said.
Michael Turner, head of insurance at Asda Money comments: “We are very aware that more and more people are renting rather than owning a home and we wanted to offer something to specifically cater for their needs. We know that everyone is different, owning an array of items both essential and sentimental. This means one size does not fit all. Our offering gives our customers complete control by ensuring they are not paying over the odds for cover that doesn’t fit their needs.”
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