Your home is likely to contain numerous items which, though costly at the time of purchase, are easily underestimated when insuring your contents. Here we will go through 10 of the most expensive items in your home which you may have undervalued or even forgotten about altogether, to help you make sure you’re fully covered.
Antiques – You may have inherited them or you may be an avid collector, either way, it’s vital that you have your antiques properly valued and listed for your contents insurance. It’s also important to have this list checked every 5 years or so, as your antiques may have become more (or sometimes less!) valuable meaning you’ll need to alter their replacement price.
Artwork – When pricing up the contents of your homes it can be easy to miss the things you look at every day. Go round your home and make a thorough list of all the paintings you own. If you have anything particularly valuable it may well be worth getting it listed separately to make sure you have it fully covered in the event of theft or damage.
Beds & Mattresses – Think back to when you bought your bed. How much did the frame cost? £200? £300? More? And what about the mattress? £500? £600? Replacing just one bed and mattress could easily cost you £1,000. Think about how many beds are in your home. That’s a lot of money to find if you don’t have insurance.
Books – How many books do you have in your house? It’s probably something you haven’t thought about. Go count them. The average UK household has around a couple of hundred. With the average paperback costing around £8 and hardbacks priced around £15, you could be looking at spending a few thousand pounds to replace them all.
Cameras – Whether you’re a professional photographer, or just a happy snapper, you’re likely to have a camera or two in your home. Most digital cameras cost close to £100 and if you’ve got specialist equipment it could easily costs hundreds to replace it all.
Carpets & Curtains – These are also items which are easy to miss, but imagine the cost of having all your carpets and curtains replaced. It’s not just a matter of paying for materials, you have to have your curtains measured, made and hung, and you have to have the carpets fitted properly.
Computers – Every home has at least one computer nowadays, and most have several. Make sure you have a full inventory of your computers and related products (monitors, printers, hard drives etc) as these items are likely to be very expensive to replace. Also, don’t forget any old computers and equipment which you may have stored away.
Furniture – You sit on it, eat from it, but you may have forgotten just how much your sofas and dining room furniture actually cost. Replacing your living room suite, coffee tables, dining room table and chairs etc. can add up incredibly quickly, and reach the thousands easily. So make sure your contents insurance covers all of it properly
Jewellery – A jewellery collection grows continuously over the years, so when was the last time you took stock of everything you own? All the rings, bracelets, earrings, necklaces, watches, brooches, etc. Although there can often be a cap of around £1,500 for jewellery on your contents policy, it may
be worth having particularly valuable items valued and listed individually to make sure you’re covered in case of theft or loss.
Kitchen Appliances – If you’re unlucky enough to have a house fire, then chances are it’ll start in the kitchen, but are all your kitchen appliances fully covered? The price of replacing the equipment in your kitchen – from the hob, to the oven, the fridge, the freezer, and the microwave – is one which can easily be under-estimated. In addition, there is the cost of having everything properly fitted, a pricey but necessary process. The number of appliances plus the need for them to be installed properly, mean this one room can easily cost £3,000, £4,000, £5,000 or more to replace without insurance. Hopefully this list will help you keep your home contents insurance as up-to-date and comprehensive as possible; meaning that, if the worst should happen, you won’t suddenly be thousands of pounds out of pocket.
an experienced blogger working in the insurance area for a couple of years focusing on home insurance