Contents insurance?
what is the average amount of money that people cover their contents for? i have a 3 bed house beside the usual amount of electrical paraphenalia, how much cover should i have? is there a site where on earth you can work out how much everything would cost to replace?
thanks
Answers:
Most standard policies eg Legal & General will cover a standard amount (Buildings up to lb500k, contents up to lb50k) which is usually enough for most people. This get round the need to individually itemise every content and is usually cheaper. There normally is a put a ceiling on for any one specific items (lb3,000), so if you had for example a diamond ring, you need to support them of this separately.
Work out cost of replacement and insure for that> Be carefully the insurance company may require a statement or note of items over a certain importance and do not forget your bikes
The best way to work out how much to insure your house contents for is to turn through every room & work out roughly how much it would cost to replace absolutely everything.
It also help to take photos of everything in your rooms for insurance (verifies that you in fact had the thing self insured). After you have written down the purchase price or estimated value of your items, show the schedule to your insurance agent, he will be better at figuring the amount you should be covered for. Make sure he writes you up for replacement value and not the depreciated pro especially on your home.
The simple answer is: no-one can narrate you!
Only you know how much the contents in your home are worth. To work that out you will have to progress through each room and estimate the cost of replacing everything (inc carpets) as new (remember nouns in the bedroom!)
Many policies now do fixed sums insured of lb35,000 or lb40,000 which can serve reduce the risk of underinsurance and there are one or two that enjoy no limit. If in doubt I would look for one of these policies. Source(s): Insurance Broker.
List everything, knives, forks, spoons, crockery, duvets and covers, pillows, absolutely everything that you would lose within an explosion! Don't forget your own clothes and shoes, a lot of people are lower than insured. Don't just look at the bigger obvious items
I have a policy with Liverpool victoria which automatically covers my contents at lb250,000 as standard.
If you shift to an insurance agent about this, be sure you ask for "REPLACEMENT" coverage. Otherwise you may end up near a policy that pays only a depreciated value of your items base on their age. And you could end up with one and only 25, 35, or 40 percent of the replacement costs after submitting a claim. Happened to me.
Related Questions:
thanks
Answers:
Most standard policies eg Legal & General will cover a standard amount (Buildings up to lb500k, contents up to lb50k) which is usually enough for most people. This get round the need to individually itemise every content and is usually cheaper. There normally is a put a ceiling on for any one specific items (lb3,000), so if you had for example a diamond ring, you need to support them of this separately.
Work out cost of replacement and insure for that> Be carefully the insurance company may require a statement or note of items over a certain importance and do not forget your bikes
The best way to work out how much to insure your house contents for is to turn through every room & work out roughly how much it would cost to replace absolutely everything.
It also help to take photos of everything in your rooms for insurance (verifies that you in fact had the thing self insured). After you have written down the purchase price or estimated value of your items, show the schedule to your insurance agent, he will be better at figuring the amount you should be covered for. Make sure he writes you up for replacement value and not the depreciated pro especially on your home.
The simple answer is: no-one can narrate you!
Only you know how much the contents in your home are worth. To work that out you will have to progress through each room and estimate the cost of replacing everything (inc carpets) as new (remember nouns in the bedroom!)
Many policies now do fixed sums insured of lb35,000 or lb40,000 which can serve reduce the risk of underinsurance and there are one or two that enjoy no limit. If in doubt I would look for one of these policies. Source(s): Insurance Broker.
List everything, knives, forks, spoons, crockery, duvets and covers, pillows, absolutely everything that you would lose within an explosion! Don't forget your own clothes and shoes, a lot of people are lower than insured. Don't just look at the bigger obvious items
I have a policy with Liverpool victoria which automatically covers my contents at lb250,000 as standard.
If you shift to an insurance agent about this, be sure you ask for "REPLACEMENT" coverage. Otherwise you may end up near a policy that pays only a depreciated value of your items base on their age. And you could end up with one and only 25, 35, or 40 percent of the replacement costs after submitting a claim. Happened to me.
Related Questions:
- What is a rational charge to videotape home contents for insurance purposes?
- Where can I find insurance for the contents of my hobby workshop?
- Can anyone recommend an insurance shipper for insuring the contents of a house move (besides the movers)?
- House content insurance.?
- Best home contents insurance UK?