Home Contents Insurance

Tuesday, November 18, 2008

To get cover for your household possessions such as televisions, videos, carpets, and furniture, you'll need to consider contents insurance.

Most policies will cover you for fire, flood and theft and many will also pay out for accidental damage, such as if you spill a drink down the back of your TV! To work out how much cover you need, it's wise to do an inventory of your possessions.

This is simple - just go from room to room and write down all the items in it. Then work out how much it would cost to replace each item on your list. Add it all up and you'll have a very good idea of just how much contents cover you'll need. Particular items may need to be insured separately as most policies will have limits on payouts on individual items. Jewellery or expensive electrical equipment may fall into this category. It's important to get the right cover for your own needs so don't be shy about asking exactly what insurance you are being sold.

Also it's crucial to read the small print to find out what exclusions there are. Many a decent insurance claim has foundered because policyholders failed to read the small print. And there are plenty of insurers who will use the small print to wriggle out of payouts, too! If you are unhappy about any exclusions, take it up with the insurance company at once - waiting until you need to claim will be too late!

Saving money on Home and Contents Insurance