What is home content insurance?
Home content insurance provides customers with an insurance policy that will look after the contents of their home financially, should they be lost or damaged as a result of fire, theft, vandalism, storm or water damage or flooding. Some home content insurance policies will also cover the contents of your home against accidental damage.
Why do I need home content insurance?
There are many different reasons to take out home content insurance, but the simple most important reason is to protect you financially should you lose everything in your home to a fire. The number of people who underestimate the value of their possessions every year shows how little people appreciate the value of the contents of their home. Many families face losing £50,000 worth of belongings if their house was ravaged by fire, and whilst no one can replace the sentimental value of your belongings, financially they can be replaced if you have a home content insurance policy.
What is covered by home content insurance?
You home content insurance policy covers everything in the home that is not built in. Buildings cover will insure the structure of your home, plus any built in wardrobes, bathroom suites, the structures of your shed and garage, and your kitchen units and worktops.
The home content insurance policy will cover everything in those structure, so the contents of your garage and shed, including lawnmower, bikes, a spare freezer and fridge, and anything else you have stored in there should be included in your home content insurance policy.
Your carpets are part of your home content insurance policy, as are the appliances in the kitchen , like the oven, fridge, freezer, washing machine, dishwasher and their contents. As well as the food in the fridge and the freezer, you need to add in the value of the food and utensils in the cupboards and drawers as well.
Your home content insurance will also insure any electrical items you have in your home, including iPods, iPads, mobile phones, televisions, game consoles and any accessories you have like DVDs, Blu-Rays, Games, Game console controllers.
One of the biggest mistake people make when calculating the level of cover they need is underestimating the value of everything they own. You need to think about the cost to replace that item new today.