Contents Insurance

Contents insurance covers anything that is not a fixed part of your home against loss and damage, caused by theft, vandalism, fire, flooding, burst pipes, etc.

Household items covered by a typical contents policy generally include appliances, electrical goods (including CDs and DVDs), furniture, carpets, clothing, ornaments and paintings. Some insurance companies provide accidental damage cover as standard, but in most cases you will have to pay extra for this cover.

Contents insurance can also be extended to cover valuable jewellery, antiques, artwork, watches, computers, mobile phones, cameras, sports equipment, garden plants,  bicycles and even the contents of your fridge and freezer. Some policies can also include cover in the event of an  injury suffered in your home.

For more on extended/additional areas of protection see How much cover do I need?

‘Wear and Tear’ & ‘New For Old’ policies

With contents insurance, homeowners are given two options. The cheapest option available is indemnity insurance, or ‘wear and tear cover’ which covers the cost of replacing or repairing your possessions, but with an appropriate deduction for wear and tear.

The second and more expensive option is the ‘new for old’ policy which replaces any ruined possessions with brand new ones. Most items, apart from clothing and household  linen, can be insured on this basis.

Is contents insurance compulsory?

Unlike buildings insurance, contents insurance is voluntary as the only party who will lose out in the event of theft or breakage is you, the policyholder. However, contents insurance is still recommended for homeowners and also tenants. For landlords, contents insurance is only required if the  property is let furnished or part furnished.