What kind of home insurance value is reasonable?
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Written on: 09.11.2009 [11:51]
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Liza
Liza
Topic creator
Posts: 4
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I've been told to calculate a rough home insurance value so that the insurer can offer me a quote. I'm not really sure how much insurance we should take out (for the contents). How do you go about calculating that? |
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Written on: 12.11.2009 [15:44]
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Lucy
Lucy
 MONETOS Experte:
Posts: 2
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You'll need to make sure that your building insurance offers suitable cover if your home were to be destroyed and you needed to rebuild it. This includes factors like: cost of building materials, cost of labour, cost of heating and plumbing system, etc. Remember that this figure refers to the amount it would cost to rebuild your home: not how much you could sell your home for! When it comes to the contents insurance, check what is covered 'automatically' by their basic policy, such as fitted kitchen cupboards. Make a list of all the items that are not covered: linens, books, dvds, TV, furniture, personal possessions... and make sure that there is enough financial cover to replace these items if the worst should happen! |
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Written on: 25.11.2009 [13:03]
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Jade
Jade
Posts: 4
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Obviously this depends on how much stuff you own and how big your home is but there is an average that estimates that the average home contents value is around 45k. They say that the living room is the most expensive costing around 12k but I suppose this depends on what you have in oyour living room, but most people have expensive sofas, flat screen tvs, computers, hi-fi systems and many other expensive items in the living room. Then the bedroom and the kitchen are expensive, imagine the cost of the appliances in your kitchen and all of your cloths and furniture...... you can read more here: http://uk.insurancewide.com/insurance/home/news/2009/may/average-home-contents-cost-45-000-to-replace-20000243/ |
