Contents insurance

Contents insurance pays for damage to, or loss of, your personal possessions that are in your home such as electrical goods and furniture. Some policies also provide restricted cover for personal possessions that you take outside, such as cameras, jewellery, purses and wallets.

You may need to specify some items separately for them to be covered, for example jewellery, cycles and laptops. So if you need this cover check it's offered under the policy.

Contents insurance is usually sold with buildings insurance but you can buy it as a stand-alone policy, especially if you are renting rather than owning your home.

 

Top tips

  • Make sure you shop around for competitive home insurance.
  • Check if the cover replaces new for old. If you make a claim then your items would be replaced as new. Otherwise you might find that your policy will not pay for the current cost of replacing them.
  • Never under insure your contents and possessions. Even shabby old furniture will be expensive to replace new. Get an independent valuation for high value items like antiques or jewellery.

 

 

  • Make sure you specify any high value items if you're asked to do so.
  • If you have children you might want to extend your policy to cover accidental damage. If you don't have children yourself, a lot of accidental damage can be created by visiting kids.
  • Most policies don't cover age-related wear and tear or damage caused by chewing, tearing or scratching by animals. So keep your pets away from expensive furniture.

 

 

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