Nowadays, many of us depend on possessions that it’s hard to imagine living without. In many cases these belongings are of significant enough value that we would struggle to replace them in the event that they were stolen or damaged. This is where Contents Insurance comes in.
Considering that most of us now own – and in many cases depend on – valuable items like laptops, smartphones, TVs and digital cameras, taking out contents insurance makes more sense than ever.
What is Contents Insurance?
Contents Insurance provides invaluable protection against theft or loss to your belongings from your home as well as damage to your belongings that occurs inside the home. It is distinct from other forms of Home Insurance in that it does not cover the property itself, rather it covers the possessions within it.
Why do I need Contents insurance?
It goes without saying that the loss of personal belongings from your home can be a distressing experience. The unexpected cost incurred should you want to replace these items is equally frustrating. Contents Insurance is designed to take that additional stress and expense out of the equation and give you peace of mind.
The average home now contains contents worth over £45,000 so for most of us there’s plenty of incentive to protect ourselves by taking out a Contents Insurance policy.
Ultimately it’s worth considering whether you’d need or want to replace your possessions if they were stolen from your home or damaged in your home. If you would, then Contents Insurance can start to look like an extremely worthwhile consideration.
What does Contents Insurance cover?
‘Contents’ are typically defined as things that you would take with you when moving home. Items like jewellery, electrical goods, furniture and clothes as well as some fixtures like curtains and carpets.
Normally Contents Insurance covers your belongings against loss or damage by theft or attempted theft, fire, explosion, lightning or earthquake and should also insure against water leakage, storm or flood damage.
Contents Insurance policies are very often described as ‘new for old’ or ‘as new’. This means that your insurance will pay the full cost of repair in the event that an item is damaged or pay out the new value of an insured item (enough to replace it with an equivalent item) if it is stolen.
Additional cover can be purchased as an extension of your policy. Extensions can include things like ‘Accidental Damage Cover’ or ‘Personal Belongings Cover’.
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† 10% of customers buying Home Insurance online with us between 1st June 2015 and 31st August 2015 received a price that was at least 20% cheaper than the price they would have been offered had they called us. Discounts depend upon individual circumstances, level of cover & payment method. (Excludes optional extras).