How much contents insurance do I need?
Contents insurance is designed to protect your belongings and, as a general rule, your contents are any items you can take with you if you decided to move house. The level of contents insurance cover you need will depend on the total value of your belongings and how much it would cost to replace them.
When you take out contents insurance you will be asked how much cover you need or what the value of your contents are. As a rule of thumb, anything you would take with you if you moved house should be covered by contents insurance.
When calculating your contents cover you need to consider the total value of the possessions in your home and what it would cost to replace all these items if they were stolen, damaged or destroyed, for example, in a fire.
Contents Only Cover
Although it may seem like a daunting task, calculating the full value of your contents is very worthwhile in the long run. It’s important to get an accurate idea of how much everything is worth, and an easy way to work out the value of your contents is to go room by room and add up how much each item is valued at. Another handy tip is to keep receipts and photographs of high valuable items.
Contents insurance is not just protection against burglary; it also covers your possessions if you had to replace them all due to a fire or flood. That is why the figure you calculate should represent the total value of the possessions in your home and why it is vitally important to get an accurate level of cover.