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HomeLet Announce IPT Price freeze for Tenants

Posted on 2011-01-20

HomeLet, the UK’s market leading provider of insurance solutions to the lettings industry, has announced that it will not be increasing its prices for tenant’s contents insurance inline with the Insurance Premium Tax (IPT) increase.

The news comes following the chancellor’s announcement of 1% increase to IPT, which took affect earlier this month. Before the increase people buying general insurance products – including car and home insurance - were paying a 5% levy as part of the overall price of their insurance. But from 4 January this year people have been paying a 6% levy.

Managing director, John Boyle, said: “Customers are central to our business and in difficult times it is important for us to support them where we can. People across the country face increasing financial pressures brought on by the rise in VAT and the HomeLet IPT price freeze on Tenant’s Contents Insurance+ will undoubtedly be welcomed by many tenants.”

HomeLet are currently trusted to protect over £435 million worth of tenants’ contents. And over the years HomeLet have protected hundreds of thousands of tenants’ deposits, on average, paying out over £550 for accidental damage claims and over £1800 for theft claims - money that tenants could find themselves paying out if they were not covered.

HomeLet’s Tenant’s Contents Insurance+ starts at just £9 a month for £5,000 worth of cover and offers tenants comprehensive contents insurance at an affordable price no matter where they live in the UK. And as well as protecting their possessions, it also protects their deposit should they accidentally damage their landlord’s property, furniture, fittings and fixtures. And what’s more it will even cover multiple tenants - all on one policy.

With great optional extras that allow tenants to tailor the level of cover such as added protection for their valuables whilst out and about or covering those extra special items, wherever they are in the world – tenants can be rest assured that HomeLet has them covered.

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