How do I calculate the value of contents to be insured?
Visit every room in your home (including the attic, shed and cupboards under the stairs!) and list all your belongings including rugs, curtains, kitchen equipment, luggage etc. Research how much it would cost to replace each item as new and then add up the full amount you’d need to replace everything. We normally cover the amount you specify, however if you enter a very low amount your policy may include more than this, if this is the case you will be made aware of this before purchasing.
It’s a very common mistake to undervalue your belongings when arranging home contents insurance. It’s estimated that a huge 25% of UK families underestimate the value of their possessions, in many cases the value is underestimated by up to 30%.
Did you know?
- An average family living in a three bedroom property typically has approximately £50,000 worth of contents.
- An average working person's wardrobe is worth £10,000 alone!
- An average stamp collection is worth £6,000.
- An average coin collection is worth £5,700.
Most people carefully calculate the value of electronic goods, artwork, collections etc. But the common items that are forgotten and missed out of the 'sum insured' include curtains, storage units, children's toys, gardening equipment, clothes, shoes and expensive kitchen equipment.
If items are stolen from my car, would they be covered by my contents insurance?
Check your car insurance policy first as this typically has personal possessions cover included. Your contents insurance may cover this if your individually listed valuable items which are stolen from the vehicle were locked away out of sight and there was forcible entry used to steal the items. However, if your valuable items are left in the car in a VISIBLE place then they will NOT be covered. Please also note that the policy does not include cover for laptops that are stolen from a car, even if stored out of sight.
What does HomeProtect contents insurance cover?
Contents insurance covers the contents of your home and your personal possessions – all the things you would normally take with you when you move house. Your furniture, rugs, computer, entertainment equipment, CDs, DVDs, videos, valuables, clothing, personal belongings – even the food in your freezer! You may be asked to specify certain higher valued items on the policy and you may be asked to make additional security provisions such as locks or a burglar alarm if you live in an area with a high theft rate.