When you are in the process of buying home insurance, your contents insurance part of the policy will ask you to estimate the value of the contents of your home. It’s a very difficult task and for many people simply adding it up in your head is not enough. Even the websites that offer you a little calculator at the bottom to break it all down often leave you predicting short and the consequences of not having enough cover can be financially devastating.
At homeinsurancequotes.co.uk the best advice we can give is to move through your home a room at a time and to add everything up separately. It’s important to remember things like the carpet and curtains, the cost of wallpaper as well, as many people simply ignore them, forgetting that they fall into the contents category.
When you move around the house, we think that the kitchen and the bedrooms are the places where the biggest underestimations happen.
The bedroom is often the home to your wardrobe, and this is any area where many people simply forget how many clothes they own. It’s important to give things a value based on their cost to buy new, and once you’ve added up the cost of all the dresses, shirts, football kits, socks, underwear and trousers you’ll be amazed at how much you’ve spent on clothes in the last ten years.
It’s also vitally important to include your shoes in your calculations. Women especially tend to have more shoes than they could ever wear, but the cost of the collection can really add up. Include the cost of toys in children’s bedrooms as well, as these can cost a fortune over a period of time, money you won’t realise you spent.
The other area of the house often underestimated is the kitchen. The value of the food in your fridge, freezer and cupboards should all be included, as should all of your appliances, and the actual contents of the cupboards. Many people have pots, pans, plates and cutlery in abundance, which has been collected over a number of years, but the actual cost to replace it all new will surprise some of you.