What is Contents Insurance? (2024)

FAQs

What does a contents insurance cover? ›

Contents insurance covers the cost of replacing or repairing your possessions if they are damaged, destroyed or stolen. It includes everything you would take with you if you moved home including your furniture, kitchen appliances, curtains, bedding, clothing, television, computing equipment and jewellery.

It is a good idea to take out home contents insurance to cover your possessions against fire, theft and other risks, such as accidental damage. If something happens to destroy or damage your possessions, it can cost a lot of money to replace these items.

Personal property coverage — also known as contents coverage on a home policy — helps cover the cost of your personal items if they are destroyed, damaged, or stolen due to a covered loss or peril. Personal property includes things like furniture, clothing, electronics, and kitchenware.

If you're wanting to get insurance for your belongings too then you should consider buying Home and Contents Insurance. Your home's contents may collectively be your second largest asset, and this is why it's important to protect them from loss or damage before settlement.

Most contents insurance doesn't include cover for accidental damage. It may be worth adding this if you want cover for mishaps, such as staining your couch or smashing a vase. Also check what isn't covered, for example, damage to clothing or computers.

Between 2023-24, the average cost of contents insurance was £5,88 per month (£70.54 annual equivalent). This is compared to £59.29 for an annual policy.

Contents insurance & water leaks

The cover for contents is usually similar in that it provides cover for damage caused to your home contents such as furniture and carpets by water leaking from any fixed tank, appliance or pipe.

Making a claim for freezer contents

Before you make a claim, check how much your excess is as this will be deducted from your payout. Unless the remaining amount would be enough to help replace the food, it's probably not worth making a claim as it can increase your premiums in the future.

How soon can you claim on insurance? Once you've taken out insurance, you can typically make a claim any time after the start date on the policy. It's worth checking what this is as sometimes the date you paid for the insurance isn't necessarily the official start date.

Contents vs. Structure

For instance, furniture, appliances, artwork, electronics and clothing are all contents. Structuralitems, on the other hand, are things that are attached to the apartment or unit.

Does contents insurance cover food? ›

This will cover any cash that you keep at home against theft or damage. Credit cards aren't covered – cover for these is separate. If your fridge or freezer fails or breaks down and food is spoiled, this covers you for the costs of replacing the contents.

Taking a full home inventory (including items kept in a storage facility) and maintaining a list of your possessions – especially the most valuable – is the best way to ensure your coverage limit accounts for your belongings. The sum of the value of all your items is how much coverage you need.

If something happens at your home, like a theft, fire or flood, and your things are stolen or damaged, you can claim for the cost to replace or repair them. For instance, if there's a fire and your TV and games console are destroyed, contents insurance could mean you can claim for the cost of repairing any damage.

Contents insurance covers the belongings you have in your home. This includes your furniture, curtains, internal blinds and carpets, as well as electrical appliances, and even your clothes, shoes and handbags. Learn more about contents insurance.

Homeowners usually need both buildings and contents insurance. If you own your home, you'll likely want a policy to cover both the structure and your belongings. If you have a mortgage or own a leasehold home, you're usually required to have buildings insurance as a minimum.

Parts of an insurance contract. Declarations - Identifies who is an insured, the insured's address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy number, the policy period, and the premium amount.

Standard contents policies will cover your mobile phone the same as any other item in the home. You will be covered for loss or theft of your mobile phone in the home (for example if it is stolen during a break-in) as well as if it is damaged in a fire, flood, escape of water, etc.