It is important to insure the contents of our home as well as the buildings. This is because when added together they can amount to a considerable sum if they were to be lost in a fire. As well, we might have individual items of high value to insure against theft, which we will need to list separately on an insurance policy to be insured. This is something that onesure can advise you about. It pays to go through a broker when looking for a competitive quote and the best cover.
Items of Value
It is always wise to check with an insurance broker which of our objects need to be notified to an insurer and cannot just be insured as a lump sum. This will tend to be antiques, luxury watches, gold jewellery, and designer items. Included in this might be an old grandfather clock, a piece of artwork from a grandmaster, or a branded watch that has cost many thousands of pounds.
All Risks Cover
Then do not forget that items are only insured away from the home if you have selected the all risks option or have specified the item separately on your policy for that purpose. If you are planning to go out for the evening wearing an expensive watch or necklace, you will want to have insured it appropriately.
Fire and Theft Risk
With most home insurance policies we are insuring our items in case they should be involved in a fire or stolen. This is the basic expectation of household contents cover.
Should an item be stolen we may, of course, see it again should the police recover it, but that is in no way guaranteed. Gold, for instance, tends to get melted down for its value beyond looking beautiful. Items may end up abroad and never be traced.
We have to remember that insurance is not about sentimental items because these are irreplaceable but a matter of finances and not losing the value of an item we have invested in for a pension fund, perhaps.
Accidental Damage Cover
If you are worried about an item getting broken because of someone's carelessness, then you will want to extend your cover to include accidental damage to your contents. This can, of course, be purchased as part of buildings cover too, but then only covers structural or outdoor things. Bear in mind that if you have children or a pet dog, something could be knocked off a shelf inside and easily damaged. This could be beyond repair or mean that the item is written off just like a car in an accident. In the case of an antique vase, for example, it could cost a lot to replace with something similar, and so you will be pleased that an insurer can compensate you under your policy.
Peace of Mind
It gives us much peace of mind to know that our items are covered for what could potentially happen with them. Insurance is about placing someone back into the same financial position but also allowing them to sleep at night.
When we spend our hard-earned cash on buying things that we like instead of saving money, we want to know that our money is just as safe as if in a bank account because it is in a sense contained within the items that we own.
I am sure that we can all think of things around our home that are valuable enough to not want to lose without being compensated for, should an accident happen. Then to lose everything and have to start again could prove an expense beyond most budgets. It is good to be able to purchase home insurance for our contents as a peace of mind. This is however they may end up damaged or lost. There are options to extend cover in this respect. Always keep your receipts as evidence that you own the items and remember to specify separately anything of significant value.
