How much contents cover do you have?

Jaguar_Skills

It is just interesting to get an idea of what level of contents cover people have?

We currently have £60,000 but I am not sure if that is enough or not enough.

The value we have put down on rebuild of our 4 bedroom house, 1 bathroom and 20ft conservatory is £600k but again this may be too much.

Our home insurance is up for renewal and I would be interested to hear what level of cover others have.

Thanks, as ever :beer:

mattk_180

The Association of British Insurers estimates that the average 3-bedroom family home contains items worth a total of £55,000. (taken just from a quick google search, may not be accurate or up to date).


In the case of the above, you may well be under insured on your contents, but this really all depends on what you own. If you're minimalistic and don't have any expensive items it may be enough. Perhaps go around the house and take a quick inventory, add it up and that would give you a good idea?


In terms of the house, being over insured is better than being under insured, although you may be paying more on insurance than you need to. Do you not know the rebuild cost of your home? If not, most insurers have a calculator they can use or otherwise places such as confused.com has their own that you can use to give you a rough idea.

Jaguar_Skills

Thanks a lot. We don't have a huge amount of contents but we are adding to the house constantly.

I will do a calc of the rebuild cost/

FutureGirl

I have a one bed flat and have £40K worth of cover.

It's best to go round the house and do rough estimate for each room for cover - you'll be surprised how it all mounts up!

firefox1956

The rebuild cost of your house will be no where near £600 000.
My guess would be around £200 000, there are caluculator for this on some insurance websites I think.
Yes go around your house & roughly estimate but remember that many of your household items that you think are worth good money are probably worth very little.
Thats not being rude just realistic.
HTH

jonesMUFCforever

firefox1956 wrote: »

The rebuild cost of your house will be no where near £600 000.
My guess would be around £200 000, there are caluculator for this on some insurance websites I think.
Yes go around your house & roughly estimate but remember that many of your household items that you think are worth good money are probably worth very little.
Thats not being rude just realistic.
HTH

It could well be £600k eg you live in a middle terraced house - you have a gas explosion which wrecks your house and badly damages the houses on either side.. etc

hcb42

...and if it is built of stone in Edinburgh...

We have one of these so called "unlimited" policies which helps overcome worrying about the building aspect. Contents were about £50K, then we took an upgraded policy which is up to £100K, which is more than enough. I think £50K wasn't far off, but there are only two of us in a modern four bed plus office etc. that said not walked rooms in a few years

SailorSam

Only got building insurance. No contents cover.