A helping hand to work out how much insurance cover you need
Not many people know off the top of their head how much all of their personal possessions are worth. However, the problem comes when you need to insure them – how much do I put down? Put the value too high and you will pay more than you need to for your contents insurance, too low and you will be under insured which could result in you not being paid the full amount of your loss in the event of a claim.
What counts as Contents
Anything in your house which is NOT a fixture and fitting is counted as contents. Items like furniture, clothes, linen, appliances, carpets, electronics, curtains, crockery, paintings, jewellery, your CD or DVD collection even the dog basket. As your property is rented, there may be certain types of contents you don't have for example carpets, curtains etc. especially if you have rented a furnished property. You do not need to insure your landlord's contents, however you are liable if you cause damage to them. Liability cover to protect you against accidental damage to your landlord's contents is available.
Calculating your Contents value
Unfortunately there is no simple way of doing this. We would suggest that the best approach to working out the amount of contents cover you need, would be to list all the items you have within the property room by room and then place a value against each item based upon what it would cost to replace them. You may be surprised at how much they are worth when you do this.