Help! I've been given £800,000 of things for the house! Contents insurance huge!

kingstreet

You can get bedroom-rated cover with a set contents sum insured of £50,000. For most of us, with normal homes and lifestyles, that would be enough.

InsideInsurance

kingstreet wrote: »

You can get bedroom-rated cover with a set contents sum insured of £50,000. For most of us, with normal homes and lifestyles, that would be enough.

You can also get higher bedroom rated policies, Marks & Spencers Premium cover has unlimited contents cover and just inner limits for valuables

paddedjohn

Get a skip and fill it up with all the tat you have filling your house up, then insure the rest for £40k.

kingstreet

InsideInsurance wrote: »

You can also get higher bedroom rated policies, Marks & Spencers Premium cover has unlimited contents cover and just inner limits for valuables

Absolutely. I was just mentioning the standard policies. The higher-end contracts have an even bigger sum insured, or unlimited cover, as you say.

SuperHan

Your calculation is flawed, in that you will have saved most % wise on lower valued items. Look at your sofas, for example. It's unlikely you've undervalued them by 79/80ths. And TVs, electrical items... For my insurance, I considered the highest value items and then doubled this. At the end of the day, the insurance company is never going know/care how many board games you have that you haven't insured at full value.

System

Take it all to Antiques Roadshow and tip it out on the table for the expert to price.
He will ask you to sit down, before telling you, "You ought to insure this for £800,000".

SandC

If you really want every kids' game and every face flannel replacing if your home should burn down then you'd better get photographing every item in there. Without proof, no insurer is going to believe you have 700 items of 'stuff' in your bedroom alone.

Also, it was my experience that with contents insurance they will arrange for payment of replacement items, any cash settlement is usually negotiated in a downward fashion (ie. I had around 150 CDs stolen when I was burgled. At the time it was £10 and sometimes upwards each one, they were happy to replace a list of 150 CDs but would not have paid me £1500 cash, arguing that if you were buying that amount of CDs from one shop they would be open to negotiation).