Summary:  
cheap home insurance covers everything removable in your home.  Find out what it would cost to replace your belongings.  You can select to pay more for extra cover.

Take a good look around your house and see the removable things that you take for granted, like computers, TV’s , your clothes, jewellery and the furniture, even the meat and veg in your freezer. Oh and don’tDo not miss out the lawn mower and garden tools if it’s kept in a locked shed down the garden.  And cash you may keep in the cookie jar, up to around 300 pounds perhaps. All these things make up the ‘contents’ for insurance purposes and they should be insured for loss or damage.

It is not compulsory to have contents insurance so getting a home loan would not depend on having it, nonetheless it’s somewhat significant.

People normally claim if their goods have been damaged or stolen, but a contents insurance policy would usually also cover events such as a fire, an explosion, vandalism or damage due to water leaks or overflows.

The cost of altering the locks is usually included in a contents insurance policy if your bag was taken with the house keys in it. 

Mishaps take place, and most insurances will pay out for a broken window for instance.  You have to state and pay extra to incorporate damage to electronic equipment, so check the terms in the insurance policy meticulously to be certain that you are getting the protection you require.

You can choose an ‘all risks’ extension to your home insurance policy which covers damage or loss to your valuables, when you travel away from home.  Items such as jewellery, cameras , binoculars or even your spectacles.

Most policies incorporate personal liability cover which pays out if an other person injures themselves on your premises, or if you damage someone else’s possessions on their property.  This claim could be for up to £500, 000 .

Some covers have conditions such as increasing your insurance cover over Xmas when you are likely to have more gifts in the house, also for a month either side of a son or daughter’s wedding so the wedding presents are well protected. 

An additional benefit for families whose youngsters are away at uni is when your contents policy covers their individual possessions and household goods where they are residing.  The cover could be for up to 12 percent of your total sum insured.

If you run your business from home you will need an extra insurance,  as most home and contents policies omit cover for this.

The more insurance you needthe more expensive your payments. The sum you are insured for is the limit the life insurance company will settle, even if even though all your belongings are ruined.  So you need to think very  carefully and sum up the value of your goods.

It’s not easy to know the value of your possessions but you need to have some idea in order to purchase insurance.  Look through the whole house – loft, garage, shed, everywhere, and make a complete list.  Find out what it would cost to buy new.  It could be staggering!

This is’nt applicableThis isn’t relevant to bedding, towels or clothes for instance, as wear and tear is deducted from the replacement cost.  Cheap Life Insurance companies sum up the value of a coat, for instance, by taking off a third of the original cost for each year you have owned it.

Most insurers offer discounts for having locks fitted to windows and doors and an alarm system, for example, or to customers who have not made any previous claims.

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