High Value Contents Insurance in the UK: What Buyers Should Know?
In this article we will look at what figure you should insure your UK home contents for, how to calculate an accurate figure for high value contents insurance and what possessions you should consider specialist insurance for.Your house insurance should include the contents of your home for the full value of replacing them, as new, in the event of a total loss by fire, for example. If you do not do so, lack of adequate contents insurance can affect the amount that an insurance policy will pay to you and, in extreme cases, make the contents home insurance policy null and void.
The first thing you should do is to calculate the total value of the contents within your home, not forgetting the contents of outbuildings such as garages and sheds. If you have the time to do a complete inventory, this is very useful in the event of a claim on home and contents insurance. At the very least, you should estimate the replacement cost of the contents in each room and outbuildings. It does not take long and you will be surprised at just how much it all adds up to.
If the sum total exceeds £50,000, you will qualify for a specialist high value home contents insurance policy and for the benefits that go with such a policy. If the sum total exceeds £100,000, you will almost certainly require a high value house and contents insurance policy. In addition, you may even find it difficult to obtain suitable cover with the "standard" household insurance providers.
Many home insurance contents policies are inflexible. For example, if you own high value items, these policies often will not cover such items or, if they do, they put restrictive cover terms on them, known as a warranty. he type of items that often cause this type of cover "problem" are jewellery, watches, collections of any kind, paintings, antiques and antique furniture, art works, sculptures, sit on lawn mowers, ceramics, guns, memorabilia and even televisions. To obtain coverage for these items, you'll need to obtain specialist home insurance.
If you feel that your current UK home contents insurance policy is not serving your needs as it should please call Geoff Moss on 01242 69913 to discuss the options available to you under a high value contents insurance policy.
