Contents Insurance
Contents insurance essentially provides cover for items found in your home that you could take with you if you were to move, within reason. Every policy and insurance provider will have their own rules regarding what is and is not covered by their policy. However, a typical contents insurance will include:
- Furniture - such as sofas, desks and dining tables
- Electronics - such as computers, MP3 players, televisions, DVD players, games consoles, audio equipment, washing machines, electric kettles and other small electronic appliances
- Decorations - such as carpets, curtains and rugs
- Personal belongings - such as books, CDs, DVDs, videos and ornaments
- Perishables - such as the edible contents of your fridge, freezer and kitchen cupboards
- Individual valuables - such as jewellery, watches, musical instruments, photographic equipment and sports equipment
Most policies will compensate you if these items are lost or damaged as a result of fire, lightning, storm, flood, explosion, earthquake or theft. In addition, some items may be covered if they are accidentally damaged. Accidental damage cover, see Additional Benefits, usually applies to home entertainment equipment and items such as glass furniture, mirrors, pictures or ornaments. More comprehensive policies will cover you if you take certain items, such as laptops and photographic equipment, outside of your home. If this is not included as part of your home insurance, you can often request extended cover for a small premium increase.
Some insurers include 'special occasions cover', see Additional Benefits, which increases the amount of cover you receive by up to twenty percent during a seasonal or family event, such as Christmas, the birth of a child, or a family wedding. Essentially, this provides additional protection during periods in which you are likely to have more items of value within your home, such as Christmas gifts or presents for a new baby.
To calculate your contents insurance premium, your insurer will require an accurate (and honest) calculation of the value of the items to be covered. Calculating the value of everything in your home can be difficult; you should carefully make a list of the items in each room in your home and use this to estimate the total value of your home contents. High-value items, such as jewellery, musical instruments and electrical equipment can be listed separately on your policy; your insurer will usually ask you to declare these if they are worth more than a set amount, such as one or one and a half thousand pounds. For more information on Home Insurance Cover see Home Insurance Cover.
