Adding valuables to contents policy.

clark24

What value would the items have to be where it would be worth mentioning them as additional things on your policy?

We have normal contents insurance, we don't own anything very valuable, just normal stuff like TVs and laptops but none are exactly high-end so our policy is an average 3 bed house type of thing.

I have been left some potentially valuable items of jewellery in someones will and was wondering at what point are they worth adding onto the policy, or don't people do that anymore?

Is there are value level at which if they are above it you make a special note (and take photos, get a valuation certificate etc) and a level at which their value is of no importance as far as letting your insurers know?

Thanks muchly in advance...

rs65

Your policy will have a single article limit and valuables limit.

Always worthwhile taking photos and getting valuations (how would you know what they are worth if you don't get them valued).

clark24

Thanks, I shall dig out the policy and see what our limits are.

We most likely will get the items valued, unless it is blatantly obvious I wasn't favoured enough to get the 'good stuff' lol

InsideInsurance

Insurers very vastly on what sorts of items have to be declared, high end policies are only interested in the traditional high risk items like jewelry, watches, art, furs etc. Budget policies tend to add on top of that things like computers, TVs and pretty much everything else short of furniture.


You have to remember that insurance requires EVERYTHING declared that meets their definitions and valued as brand new today even if you bought it 2ndhand a decade ago. You cannot pick and choose which items to declare etc as you'd then be under insured which can result in any claim being declined or settlement reduced

clark24

Ours is definitely a budget policy, I think it's a 'the total of your worldly posessions comes to no more than 40 grand' type of thing. I think I need to have a proper look at my policy as it is up for renewal soon anyway, and find out if it is actually worth getting another one, especially as now I think about it I have a few things that are actually rather expensive that should be noted and I don't want to find out I'm underinsured if I'm ever in the horrible position of needing to claim (which I hope never happens!)