When you are getting organised on the home front, make sure you don’t overlook important details like home contents insurance.
Unfortunately, you can never predict when the unexpected may happen, but in the case of fire, flood or theft, you’d feel a whole lot better if your possessions were covered and you didn’t have to pay out to replace them all.
When you ring round for contents insurance, the insurance company will have a whole list of questions about different items around the home and anything that is exceptionally valuable. If you have a cheap dining table you won’t need to put that down as a special item, but you may have more valuable items like jewellery and electrical items like cameras and computers that you need to list specifically.
Check with the insurance agent whether the cover you choose will cover replacement value or value of the item after wear and tear has been accounted for. Otherwise you might be in for a shock when you think you are going to get replacement value and you actually don’t have adequate cover for it.
There are special extras that you can include such as cover for accidental damage. This can be really useful if something like red wine gets split on a cream carpet or sofa. It may seem like a good idea to say no to extras when you are going through the quote, but when an accident occurs you may regret not spending that little bit more on your policy.
If you do have to make a claim, some insurers give you a set amount to spend on each replacement item. It’s a good idea to wait for a sofas sale to come up, as you may be able to get a better sofa for the same amount of money.