What is Contents Insurance?
Contents Insurance is designed to cover the cost of replacing your belongings if they are lost, stolen or damaged.
How do you define contents?
If you moved home, what are the items you could take with you. These are effectively items that are not fixed to the structure of the property.
These include but are not limited to:
- sofas, beds, wardrobes, dining tables and chairs
- cutlery, cookware, kettles and microwaves
- DVDs, toys, and video games
- cushions, curtains and bedding
- laptops, TVs and games consoles
- clothes, jewellery and watches
This form of insurance can be purchased as a standalone product or alongside Buildings Insurance, which once combined, is typically known as Home Insurance.
Buildings Insurance is typically a requirement when purchasing a property using a mortgage. This is because lenders will insist on you having that protection in place, should the worst happen.
Do you need Contents Insurance?
Contents Insurance is not usually a requirement of a lender, however, rather than taking the two separate, if you are taking both Buildings and Contents cover, underwriters tend to offer a cheaper premium when combining the two into one policy.
According to Sainsburys Bank data, the average UK home will have approximately £55,000 worth of contents alone. If you can afford to replace £55,000 worth of items, should something happen, this insurance may not be for you.
If like most, you would struggle to replace £1,000 worth of items never mind £55,000, this form of insurance takes that financial worry away from you.
Book in for your FREE protection review with MAIN and we can assess your current family and home protection package. Because of our established relationships with a range of underwriting insurers, we have access to exclusive rates and offers, therefore, we expect to save you money whilst offering better cover.