How to get more from your home contents insurance

Even if you already have home insurance, you may not be aware of precisely what it covers - and if your home contents aren't included, you could face a significant financial burden if your belongings are stolen and need to be replaced out of your own pocket. Home contents insurance can be considered an essential part of any home insurance plan, and one you'll need even if you're only renting a property from a landlord or letting agency.



However, just because you've taken out home contents insurance doesn't mean everything you own will be eligible for claims, in the event that your property is damaged or stolen. While a standard contents insurance policy will usually cover most of the items contained in your home that are not part of the building's structure, higher value items may need a more specialised policy. What's more, items such as cash, credit cards, jewellery and antiques may be difficult to arrange cover for.



When you take out home contents insurance, it will be your responsibility as policyholder to provide your insurer with an accurate value for your belongings. Although insuring higher value items may be more expensive, you should avoid under-estimating or deliberately under-valuing your home contents, as you may soon regret it in the event that you need to make a claim. When you are calculating the totals of your home contents, remember to use present-day values representing the amount you would need to pay to replace these items today, as opposed to listing the prices you originally paid many years previously.

Not all home contents insurance policies are identical though, and it can be well worth shopping around and comparing policies from different insurers to find plans best suited to your insurance needs. For example, some contents insurance policies do not cover items kept in outbuildings, such as sheds, garages and greenhouses, while others may not cover frozen food stored in freezers. If these features are important to you, it shouldn't be too difficult to find insurers that offer this cover as standard.



You should also check whether your home contents insurance covers accidental damage for contents such as electronic equipment, as this type of damage may not be covered by the equipment's warranty. If you own a large amount of electronic devices, it can be well worth checking your insurer's policy on replacing damaged equipment, which may cost you a small extra fee.



The author of this article is a part of a digital blogging team who work with brands like M&S Money. The content contained in this article is for information purposes only and should not be used to make any financial decisions.