Going flatting is a big step towards being independent, but it’s also the time when you have to start paying your own way in life. Before you leave the comfort of home, find out how much rent and other expenses might cost, so you can work out what you can afford.
If you don’t own much you may be tempted not to pay for house contents insurance.
What many flatters don’t think about is what happens if your landlord’s property is accidentally damaged by you or your flatmates.
If you caused a fire you could be charged tens or hundreds of thousands of dollars for the repair. You may want to consider taking out a contents insurance policy that covers you for personal liability.
You will also need to have contents insurance to get EQC cover for damage to your belongings caused by a natural disaster.
Find out more about the different types of insurance.