Estate agency Leaders is looking to increase awareness of home insurance among tenants.

Research carried out by the company found that a third of respondents believed their own possessions to be £10,000 but that people who rent often believe they are covered by their landlord's insurance.

Paul Weller, the managing director of the estate agency, states: "Insurance is something most of us would rather not have to pay out for, but having the right policy in place can save an enormous amount of stress and financial hardship if the worst happens."

However, Leaders also points out that it may not just be tenants who are confused over which type of policy will cover their possessions.

The study also found that some landlords believe a standard buildings insurance policy will cover a property that is let to tenants. The estate agency points out that standard home insurance agreements will exclude properties that generate a separate income.

Leaders therefore advises both tenants and landlords to ensure their insurance policies provide adequate cover.

Earlier this year, the estate agency welcomed a government review into the rented sector in England which was aiming to improve conditions for both landlords and their tenants.

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