It’s often said that your home is your castle. It’s the place where your most treasured possessions are kept, and somewhere that you try to keep safe at all costs. Keeping doors locked, windows secured and having other security measures in place is an important part of protecting the things you love, but what about home contents insurance?
Getting covered for your property within the home is a vital way to help ensure that, in the event of the worst-case scenario, you’re covered for the things you love and can rest assured that you’re protected. But how much is contents insurance and how do you calculate the amount of cover you need? In this article, we’ll cover some of the details and help you figure out just what you need.
What Should I Insure My House Contents For?
A 2018 study from The Association of British Insurers estimates that the average UK household owns £35,000 worth of personal property. With all that personal property within your home, it can sometimes take a little bit of working out to settle on a figure for your house contents. Don’t worry though, that’s where we can help you out!
When asking ‘what should I insure my house contents for?” it’s important to consider just how many different items you have within the home that might not seem too obvious. For instance, your sofa may just feel like part of the living room, but it’s actually something you should consider. After all, if a fire or flooding damaged your sofa, it’d be an expensive job to replace.
Speaking of accidental damage, it’s also worth thinking about the different types of loss that your insurance is there to cover you for. You might think larger items, such as a bed, are unlikely to be stolen so might not need covering, but there’s also the added risk of damage from fire and smoke, storms and floods, as well as vandalism to be taken into account.
Finally, don’t limit yourself to covering just items that sit within the four walls of the home. Many insurance policies, such as our SO SURE Contents Insurance, will also cover items in gardens and shared areas, as well as locked garages and sheds.
How to Calculate Contents Insurance
When you’re thinking about your house contents insurance, consider each room of your home and what objects you keep in there. Think about furniture and TVs – basically anything that doesn’t actually form the structure of the building.
Here’s a useful room-by-room guide to use:
Living Room: Sofas, TV and electrical equipment, carpets, curtains and soft furnishings, pictures and ornaments.
Kitchen: Fridge freezer, oven/cooker, microwave, toaster and electrical equipment, pots and pans, crockery, cutlery and glassware, washing machine, tumble dryer.
Dining Room: Table and chairs, electricals, carpets, curtains and soft furnishings, pictures and ornaments, silverware.
Bedrooms: Bed, furniture, shoes and clothes, jewellery and watches, bedding, carpets and curtains, TV and electricals.
Other: Cabinets, shelving and mirrors, soft furnishings, electricals, exercise equipment, laptops and computers.
Considering each room separately helps to put together the individual items and make sure you don’t forget anything important.
What is the Average Cost of Home Contents Insurance?
As with all insurance, there are so many different factors that can affect the cost of home insurance that it’s difficult to give an average cost. What’s arguably more important is making sure the cover you’re paying for gives you everything that you need. For example, you’ll want to check the level of cover provided by a home contents insurance policy. There are also other factors to be considered, such as whether there’s a sneaky hidden compulsory excess or any hidden fees such as cancellation and mid-term adjustment fees.
Further to that, it’s worth looking at your insurer’s policy when it comes to renewal. Are they likely to hike the price up and automatically renew your policy? These are the areas where you can help ensure you’re getting the best value for money from your home contents insurance policy.
There are also other factors to be considered, such as how easy it is to get your cover set up and how your insurer handles the claims process. All of these factors add up and are important considerations, as opposed to simply thinking about price representing value.
Do I Need Receipts for Contents Insurance Claims?
For most insurance claims, some sort of proof of ownership will be required in order to make a claim. Similarly, for some high-value items, you may need to agree proof of value with the insurer before agreeing cover.
Keeping receipts for absolutely every item in the home can be difficult, but it’s always worth putting the receipts or invoices for big purchases in a safe place. If you have an item without proof of purchase, or a family heirloom, it’s worth taking photos and/or having the item valued.
With a SO SURE Contents Insurance policy, some of the most common documentation we’re likely to ask for are:
- Proof of purchase
- A police report if there’s been a burglary
Just like any type of insurance, home contents insurance is something that might not seem like the most exciting or important thing to sort out but could be vital should you experience any sort of loss. At SO SURE, we focus on making sorting out your home contents insurance as simple and easy as possible through our app. We’re also focused on making sure there are no hidden fees or sneaky compulsory excess, and we also make sure we keep our renewal price freeze promise – so you’re not punished for sticking with us.
Just get a quote today to find out how we can cover your contents insurance needs.