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Contents Insurance - What is Covered?
By AMELIA of Bigplanners.com
It is a good idea to take out contents insurance if you do not already have
this type of cover under your basic homeowners policy.
Contents insurance provides you with protection if something happens to the contents of your
home.
Contents insurance will normally cover household goods, personal belongings and business
equipment owned by you. This may include cover for pedal cycles (up to a set amount), money
(again up to a certain amount) and fixtures and fittings in the home.
You will find that there will be exclusions stated in your basic homeowners policy
under the contents section of cover. Common excluded items may include caravans, trailers,
livestock or pets, landlords fixtures and fittings, and any part of the buildings and property
more specifically insured.
The basic homeowners policy will state what contents are insured against. Normally
this will include the following: loss or damage caused by fire, smoke earthquake, explosion,
lightning, riot, civil commotion, strikes, malicious acts, vandalism, storm, flood, subsidence,
theft or attempted theft, escape of water from i.e. a washing machine, leakage of oil from
heating installation, falling trees and branches and may also include against
accidental damage to business equipment, radios, computers, televisions and so forth.
Common exclusions in contents cover under a basic homeowners policy:
The excess (as shown in the schedule)
Loss or damage caused by you
Computer virus
Loss or damage during a period of unoccupancy
Loss or damage caused by domestic pets
Wear and tear
Electronic failure
The above list is not exhaustive and you should check your basic homeowners policy for
details of the exclusions as every homeowners policy will be worded differently and may include or exclude certain items.
Additional items
Your basic homeowners policy may provide cover for other things.
Alternative accommodation
Your policy may provide cover for the cost of expenses incurred during the period your home is made uninhabitable.
Loss or damage to your contents during household removal
This would cover accidental loss or damage whilst the contents are in transit between your home and your new home.
Theft of keys
This will normally cover the cost of replacing and installing door locks including keys for external doors in your home if your keys are stolen.
Personal assault
There may be a section of cover for money to be paid to your personal representatives in the event of your death as a
direct result of injuries received in your home caused by thieves.
Freezer contents
You will find that a basic homeowners contents policy will normally include cover for
food in a freezer cabinet or compartment of a refrigerator made unfit for human consumption due
to a rise or fall in temperature or contamination by refrigerant and so on. The insurer will
normally also pay the cost of hiring temporary alternative freezer space as long as the cost is
reasonable.
Credit cards
There may be cover for any losses as a result of fraudulent use of your credit cards by unauthorised people.
Other sections or cover:
Oil and metered water loss
Jury service
Special events
New purchases
Reinstatement of documents
Claims settlement
The basic homeowners contents policy will have a section stating exactly what the insurer will
do to replace or pay for stolen or damaged items.
Normally the homeowners insurer will have the option to either replace as new, pay the cost to
replace as new, repair or pay the cost to repair. It is likely that the insurer will be able to
make a deduction for wear and tear from the cost to the insurer of replacement or repair in
certain circumstances.
The schedule will state the maximum amount the insurer will pay for contents. However
you will find other amounts listed in your policy i.e. it may state £500 to cover theft of you
keys.
It is a good idea to shop around for quotes when considering purchasing contents insurance.
When comparing different policies make sure it is clear what is covered, the extent of the cover
and what is excluded to ensure you know exactly what your covers you for. You can get
an instant homeowners quote either online or by using the telephone.
Contents Insurance Recommended by AMELIA, Click Here Now
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Insurance provides a way you can protect yourself against unpredictable risks, and therefore it can be very beneficial to you. Accidents, injuries, and old age can deprive you of physical health. Also natural disasters, robberies, or a whole host of different things can cause you to lose your possessions. Nobody wants to think that unexpected things will happen, but sometimes they do. Insurance is an easy way of protecting yourself against financial losses caused by these problems.
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