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Contents Insurance

If you are sure of insuring your home why won’t you be concerned enough to cover the valuables you purchased to make your ideal home. This requirement is not compulsory however looking at increasing cases of burglaries, thefts and fire, Contents Insurance becomes an inevitable requirement.

The permanent fixtures in your home are already covered as a part of the house insurance policy. However to insure the movable and unfixed portion of your home we have the Contents Insurance for you. Contents Insurance covers appliances, equipments, furniture and electronic items. Insurance coverage also includes the contents of your refrigerator. This policy is an attractive option for tenants as they usually spend on the furniture and other equipments if the house had been let out unfurnished and unequipped.

There are two types of cheap contents insurance policies available that “New for old” contents insurance policy and an “indemnity” contents insurance policy. The former is a costly version and replaces the old commodity with a new one. While the latter would replace the old one for the commodity with the comparable age.

It is important to keep a tab of what’s covered in your policy and be crystal clear about it. Petty items such as clothes, mobiles, items in your handbag are also covered; this also includes your sports kits and bicycles. It is also crucial that you add up the cost of refurbishing your garden as it is also covered. However you need to ensure that all the expensive items in your house which cost over a thousand pounds in value are included specifically as they are not covered in general policies.

Contents Insurance provides coverage for uncertain events such as fire, explosion and floods. It also protects against burglaries and destruction.

There are unique contents insurance policies also available which protect you if you were injured due to carelessness in keeping the home in good condition.

Contents Insurance Coverage

One of the key aspects of Contents Insurance Coverage is how much to insurance? What should be the total sum of the policy value? Always try to cover the cost of the total worth and value of the contents. If you take a 50% coverage then if you will only get half the worth of your contents in the event of damage. Be accurate in calculating the value of your contents.

So how will you begin calculating the value of your contents?

It is advisable to maintain a list of all items with its value. Make sure of including all items you have purchased or which have been gifted to you. It is also crucial to include the date of purchase for your reference as it helps in valuing the items later. File all the bills and receipts along with the list.