Whether you own your home or not, you should have contents insurance. There are few things more upsetting than losing valuable personal possessions, whether its through accidental damage or theft. There are a huge number of insurance companies who offer content insurance and it can be quite daunting to wade through the small print and decide what is best for you. We do not in anyway wish to influence your decision or point you in any particular direction. Instead the purpose of this article is to provide some background to a content insurance policy and describe some of the things that are covered and some that are not. All policies will vary somewhat, so it is always imperative that you do not assume anything is automatically covered. Always check.
It is important not to confuse contents insurance with buildings insurance. Basically the buildings insurance covers the bricks and mortar and permanent fittings like bathroom suites and fitted kitchens. Contents insurance will potentially cover practically everything else.
A contents insurance policy will have some items that are automatically covered and some that are additional benefits that must be selected by the client. As previously mentioned, it is important not to assume that anything is automatically covered. Every insurer will provide a comprehensive document that states what is insured and what isn't. It is in everyone's interest that the client understands what is covered. For example, business equipment may be automatically covered in one policy, but not in another.
A contents insurance policy will have bands and limits for collective and individual items. If a person has one or more items of a particularly high value, then it is important to confirm that the policy would cover this. If not it may be advisable to get the item or items insured separately.
When something has been lost, damaged or stolen then what to do. Most insurers will have an emergency line to call and this should be your first step. They will advise on what to do and send out any relevant forms. If for some reason you cannot contact this number then it is important that you take any reasonable steps you can to prevent any further loss or damage occurring, as this would have to be done in any case. Also, record any information relevant to your claim immediately, as this is fresh in the mind.