Contents Insurance Explained

Many people get confused between building and contents insurance, but it is essential to know the difference between these two important products.

The distinction is actually quite simple - contents insurance refers to the fact that the items inside the house are insured, that is, the CONTENTS!

This contrasts to the building insurance which is not concerned at all with what is inside the house but rather looks at the fabric and physical make up, the so-called 'bricks and mortar' part of the house.

When taking out contents insurance you will need to ensure that the level of cover is enough for your requirements, and typically you will need to declare any items of value that are worth above say £1000.

Cover levels will typically be around the £50,000 mark though these can be lifted up as required.

It is also worth seeing if things like replacement locks are covered by the policy if the keys to your doors are stolen by someone, an expense that many have to fork out on if they don't check it is covered by their policy.

You might also think about the option to actually cover your possessions whilst you are outside the house from theft and being stolen, as an extension to your policy, which of course comes at an extra cost but could offer more peace of mind.

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