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General Insurance Contents Insurance | Contents Insurance |
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Home Contents Insurance is cover for all of your household contents, i.e. furniture, carpets, curtains, television, stereo, kitchen equipment, ornaments, personal possessions, clothing, computers, etc. In simple terms, contents are those items that one would normally be assumed to take with you should you move. In deciding the amount to insure for, one should consider the total value of everything that is in your home that you would take with you if you were to move based on replacement cost. The contents value does not usually include fitted furniture, e.g. fitted wardrobes and fitted kitchens, as these items are included under the buildings insurance. Many policies include accidental breakage of mirrors, glass tops to furniture, ceramic hobs) and fixed glass in furniture. Some policies cover accidental damage to televisions, satellite receivers, videos, home computers and audio equipment. You can often extend your policy to cover accidental damage to all of the contents in your home. Contents Temporarily Removed Cover As a rule only limited cover, around 20% of the contents sum insured, applies to any contents temporarily removed from your home. Most home insurance providers provide a facility to insure your personal possessions away from the home, should they be lost, damaged or stolen. Likewise, many policies extend to include, within policy limits, contents in the open, or in outbuildings. Valuables and Personal Effects Cover This optional cover allows you to insure your personal items normally worn or carried outside the home, e.g. watches, cameras, jewellery anywhere in the world for up to 60 days a year. Normally this cover is world wide in scope. In the main, you will have to specifically insure items over and above a specified amount, normally around £1,000 in value. Accidental Damage Certain items can be automatically included the standard cover, but one needs to take out additional cover for items accidentally dropped, scratched or broken, i.e. spillages on the carpet or electrical equipment, etc. In other words, those incidents that are not covered by the standard perils (causes) listed above and are ‘accidental’ by definition. New for Old New for old means, that the insurer will replace the item(s) you are claiming for with one(s) of the same make & specification. Claims in respect of clothing, household linen and pedal cycles will be subject to deductions for wear and tear. Liability As a policyholder, you will be insured for any injury to a third party or damage to their property. The limit for such cover is generally £2,000,000. It is often referred to ‘legal liability as the owner of your home’ – this does extend to include members of your family permanently resident with you. Important If the Contents Insurance is based on replacement costs you must ensure your Contents are insured for the full replacement costs as failure to do this could mean your claim is reduced due to under insurance. |
Financial Protection:
| Personal Accident |
| Income Protection |
| Critical Illness Cover |
| Term / Life Assurance |
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