Replacing the contents of your home can be incredibly costly, often running into tens of thousands of pounds. Taking out contents insurance is a sound investment, but how do you make sure it covers your needs?
Cover up
Making sure you have the right amount of cover is the first step to ensuring your policy is the right one for you — it’s easy to underestimate the amount of money it would cost to replace everything in your home, should the unthinkable happen. There are online calculators available that you can help you work this out.
It was an accident
Contents insurance covers everything in your home that you would take with you if you moved. A basic policy will most likely cover you for fire, theft and flood, but if you were to spill water down the back of your television, you would have to pay to replace it out of your own pocket, unless you opted for a policy that included accidental damage.
Kids rock
If you have a young family, it’s usually wise to opt for accidental damage cover, as this will lessen the financial impact of a precious item being broken by over-exuberant youngsters.
Going out out
Make sure you read every section of your insurance policy, paying attention to all details, including if you are covered for items outside the home. Some policies offer overall cover for these items while others will ask you to name and value each item separately. When you are valuing items such as laptops and phones, make sure you also consider the value of any files that you would be unable to retrieve if the device was stolen or lost.
Shiny and new
If you would like new replacements in the event that items are damaged, lost or stolen, make sure your policy offers you ‘new for old’ cover, otherwise you may find your insurance won’t pay out enough for you to replace the item.
Do your homework
If you work from home and undertake more than clerical work, you may need a specialist business insurance — don’t be tempted to avoid this as you may find that your insurance won’t pay out at all if you have not taken out the correct cover.
Speak to one of our highly trained advisors today, who will make sure your contents insurance perfectly covers you, whatever your needs.
