Guide to contents insurance

Your Mortgage
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Your Mortgage

Contents insurance is often sold alongside buildings insurance.

Your lender will not insist on your taking out contents insurance, but it is  recommended. If you ever need to make a claim, you will receive the cost of the replacements for damaged goods from your insurance company.


Decide whether you want a new-for-old policy or cash, and assess the value of your possessions to make sure that you are not under-insured or over-insured. How much should you insure for?


There is no short-cut route to determining the value of your possessions. You will have to take a bit of time going from room to room and assessing what everything is worth. Most people prefer new-for-old contents insurance policies, because they get an exact replacement or even an upgraded version of the goods lost. You don’t have any of the frustration of having to shop around for the goods you have lost as you do when you receive cash in place of your lost goods.


Some insurers offer lower premiums if you have a burglar alarm installed (BS4737 approved). You should also have five lever mortice locks fitted to all external doors (to BS53261 standard), and doors should ideally be at least 44mm thick. You may also get a cheaper deal if you are a member of a Neighbourhood Watch scheme.


There are plenty of contents insurance options around, from traditional insurers to supermarket banks and online sources. Always shop around for the best cover.