dumb first timer questions on contents insurance

Lisakx

Just got my first place of my own and need to arrange contents insurance. I have no idea what I'm doing! How much do I insure for? What voluntary excess do I choose? Everything is confusing me regards it. I have quite a lot of high cost computer and photographic equipment so its important they are covered fully but I really don't know where to start before I get to the quotes because I don't know what information I should be inputting. Sorry to be so dim tonight. Thanks for your help it'll be much appreciated I promise.

mattymoo

There is some useful info over on the ABI website - Association of British Insurers. Link here - http://www.abi.org.uk/Display/default.asp?Menu_ID=1140&Menu_All=1,946,1140&Child_ID=457

Martins guide can also be found here - http://www.moneysavingexpert.com/insurance/home-insurance

Have a read of those and come back with further questions. One aspect to consider is whether you use the camera / computer gear for a business. If yes, many insurers may exclude this.

Lisakx

Thanks will read now and nah not yet! Just for hobby at moment, not ready to consider business yet (too scary ) thanks again!

Lisakx

Right for content cover I need how do I work out the value of everything? I guess write a list and do it that way? thanks again.

mattymoo

Break it down into rooms, its easier. Remember its new value on everything apart from clothes were they deduct for wear and tear based on the age.

With books and DVD's I usually set an average of say £5 a book, £9-10 per DVD and go from that.

Get a total and just add 10% to allow for nick nacks and purchases during the year.

Alternatively, some policeis have pre-set limits usually around £50-75k or are based on number of bedrooms. Might be a bit much if it is only a one bed flat though but saves the hassle of working it all out.