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Have You Valued Your Home Contents Effectively?

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By : Jennifer Mary Jane Adams    99 or more times read
Taking out home contents insurance can be quite confusing for many people and one of the biggest mistakes that people tend to make is to wildly estimate the value of the contents within their house. Another problem that many people face, but scarcely realize, is to reevaluate the value of their contents during renewal time, as you're likely to have increased the number of processions you have and - in some instances - these may have increased in value.

It's also important to realize that even if your contents don't increase in value, the cost of replacing them might. This is particularly true if you consider inflation and the effects that will have on buying new replacements for each of the items you're insuring.

Before purchasing home contents insurance, be sure to check that it covers all of the items in your house. If it doesn't - for example if it doesn't cover specialist processions like antiques and such - maybe it's time to look for an insurance policy that does. Or, failing that make sure you take out a separate insurance policy to cover the items which are not covered.

Take stock of your belongings. Taking an inventory of all of your possessions may seem like quite a mundane and time consuming task, but it is very important to get this right at the start. Set aside a few hours - even half a day - to go from room to room taking stock of everything you have. It also makes sense to photograph all of the different rooms and the belongings in each, as this may come in handy should you ever have to put in a claim.

Is your garden covered? The policy may be called 'home contents insurance' however a growing number of insurance companies are now covering sections of the garden. What could you possibly want to insure in your garden? Well decking furniture, barbecues and any other outdoor equipment could all come under this policy, so if you do have valuables that are worth insuring, look out for an insurance provider who will cover that.

Do you work from home? If so, you may have office equipment including computers and printers that you would like to be included in your home contents insurance package. It may come as a surprise but even though these are in your home, they may not be covered by your insurance policy since many home contents insurance policies don't always cover possessions if they are used for a home business. Speak to your insurance provider to see if they have an alternate policy that covers both or what alternative options they have for covering business equipment.

Choosing a home contents insurance package - or any insurance package for that matter - can seem quite confusing, and generally speaking, it's something that we try to put off organizing as much as possible. However, you never know when you are going to need to make a claim so be sure you have done your paperwork properly.
Jennifer Adams writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.

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