looking to get contents insurance but confused

jamespir

im looking to get contents insurance for my property but not really sure whats best most comapanies only do like £20,000 policies and quite frankly dont feel ill need this as im sure the stuff i have isnt really worth that and dont want to pay out for something i dont need

the most expensive thing i have is the laptop followed by the xbox
the laptop ill get additonal cover for when its outside
plus how do excess work i take it if i make a claim i pay 50 quid towards the cost they pay the rest


anyone have any good suggestions

*Scarlett

When thinking of contents insurance you have to estimate the minimum cost of replacing absolutely everything in your home - not just expensive items such as electronic equipment.

So if you had to replace everything at todays's prices - furniture, carpets, curtains, blinds, soft furniture, clothing, jewellery, decorations, kitchen equipment, etc - you need to choose the minimum value to rplace these.

If you under insure you may have problems if you make a claim. Eg if you insure your contents for £10k and an assesor deems that they are actually worth £20k, the insurer might only pay 50% of any claim (or not at all) as you were not paying the correct premium for the risk. So on a claim for a £500 laptop they might only pay £250.

As regards to excess, this is the amount that you are responsible for in the event of a claim. It is possible to get a zero excess policy but I would suggest that these are expensive and would only be worthwhile if you want to be able to claim for very small amounts. Bear in mind that serveral claims (no matter what size) within a relatively short time period will adversely affect your premium and may even affect your ability to obtain cover in the future.

When choosing the excess, make sure it's one you are comfortable with. Check quotes carefully for compulsory and voluntary excesses to see the total that you would pay.

InsideInsurance

Not only do you have to factor in everything you own, right down to your pants, but it should be at the cost to buy them all brand new and from the high street (not clearance sales or heavily discounted online etc).

Unless you only own the clothes you're wearing and your two toys then it would be surprising if you dont find your contents valuation isnt much more than you are thinking.