Article Sphere Logo
"Insurance" Article
 Article Directory Home All Categories Insurance

Contents Insurance - Check Your Cover

By Expert Author: Michael Challiner Platinum Expert Author | View Article Summary
Word Count: 530 words | Views: 260 view(s)
Michael Challiner

You've probably got contents insurance for your belongings but are you aware just how easy it is to fall behind in calculating the value of them?

What do you imagine the average contents of a family home are worth - £25,000 or £30,000? In fact this figure, for a typical home, is estimated to be over £45,000. Apart from your "moveable items" of carpets, furniture, curtains, it's probable that electrical goods purchased over the last few years explain the sudden rise. It's not unusual to have three or four mobile phones, a couple of computers, possibly also a laptop. Then there are the TV's. Apart form the large family wide screen digital HD ready, singing and dancing set, there's probably a another one in the kitchen and two or three others in the bedrooms, not to mention DVD and video recorders. Probably the children have iPods, gameboys and whatever else is "in" at present. Don't forget your CD collection - Norwich Union values these at £10 each and DVD's.

Apart from the risk of damage, all the above items are very appealing to the thief, being easy to handle and finding a ready market. Don't forget the garden, the mowers and garden machinery, contents of the shed and garage, garden furniture and even your tubs and hanging baskets. The value of plants can add up too!

Should you need to make a claim, it's important that you're not under insured. If the insurance company judges that you don't have adequate insurance, the claim will not be fully paid. This means that if you have insured your contents for, say, £20,000 and your insurance company considers there would be a value of £30,000 to replace them, then there would be a shortfall of £10,000.

Insurers handle things in different ways. For example Norwich Union Direct, one of the major insurers, will pay out up to the amount for which you're covered. It's left up to you to fund the difference. More Than tells us that their policy on underinsured claims is to reduce them by up to 20%. In fact More

Than are taking action to ensure that clients are more up to date with their cover and so have recently increased the this for all their clients, by 25%.

These increases will apply on the clients' next renewal dates. No doubt more insurance companies will look at following suit soon.

Whilst you're thinking of re-assessment, maybe it's time to check the current figures on your buildings insurance. As well as the house, garage and outbuildings, you may have fixed items such as lighting, hot tubs and permanent garden features. These are covered by your buildings insurance, not your contents. Your insurer will normally work out a quotation based on the number of bedrooms, etc., and your postcode. The insurable figure will be the cost demolition and clearing of the site and re-building your home on the present site, of course.

To help you re-consider the value of your belongings and for additional advice there's a handy checklist for home owners on the Association of British Insurers, www.abi.org.uk

There are a large number of insurance companies handling both contents and building insurance and, as always, it pays to shop around.
About the Author/Author Bio

Brokers Online offer you access to many uk financial services including Cheap Life Insurance and Home Insurance

Article Source: http://www.articlesphere.com/Article/Contents-Insurance---Check-Your-Cover/30066

Article Tags: insurance, contents, home, cover

Article Submitted: 2006-05-29 | This Article has been viewed 260 times.

Comments on this Article


More "Insurance" Related Articles

 
 

Listed below are more articles related to the above article from the "Insurance" article category.

People interested in the above article "Contents Insurance - Check Your Cover" are also interested in the related articles listed below:

 
In our previous articles we've approached such issues as correct cargo insurance, clauses of the insurance agreement, term of validity of the insurance agreement and factors which influence the underwriting rate. Today we'll discuss how to obtain insurance.
Water damage is one of the most common reasons that people make claims on their insurance, but do you know exactly what your insurance covers? Both flood and homeowner's insurance deal with water damage, and knowing the difference between them and what's covered by each can help you determine the right coverage for you, as well as help you determine what to do in the event of an emergency.
Ostensibly, such policies cover people if they become sick, made redundant, or are involved in any sort of accident. You can take such policies out alongside all types of borrowing such as store cards, credit cards, personal loans, and mortgages.
Moving to another country is not an easy task to accomplish and a lot of individuals and families hire international moving companies to handle it for them. Once you sign the contract with them and pay the deposit for your overseas move - you’re done, right? Do your due diligence and check what options the mover offers as to the international moving insurance.
National study reveals how much long-term care insurance consumers purchase; at what ages they buy this protection and what they pay. Valuable information for any consumer considering long-term care insurance protection.
When you’re sitting at home worrying about the mounting pile of bills to pay, it’s easy to lose sight of the big picture. Fact is, just as you’re in a new world of hurt, there are other people hurting as well. In this case, the people are the inventors in the insurance industry. They all bought shares in these big corporations when the prices were high, never thinking that the world could suddenly turn sour.
If you have been here (earth) long enough then you would have amassed fair deal of detritus, but also valuables. Irrespective of how much certain things could go for on Ebay, they may be of some sentiment which means a worth more than all the money in the world. Even if your home is only partially damaged this could mean a great deal of expense. Using unattainable funds in a scenario whereby you do not have insurance for your home contents.
 
Article Directory Home All Categories Insurance
 

Can't find what you're looking for? Try Google Search!
 
 
(We serve worldwide - Locations updated as at Sunday, 05 July 2009 12:36 pm , Singapore)
United States of America, USA . United Kingdom, UK (England, Scotland, Wales, Northern Ireland) . Canada . Afghanistan . Albania . Algeria . American Samoa . Andorra . Angola . Anguilla . Antarctica . Antigua & Barbuda . Argentina . Armenia . Aruba . Australia . Austria . Azerbaijan . Bahamas . Bahrain . Bangladesh . Barbados . Belarus . Belgium . Belize . Benin . Bermuda . Bhutan . Bolivia . Bonaire . Bosnia-Herzegovina . Botswana . Brazil . British Virgin Islands . Brunei Darrusalam . Bulgaria . Burkina Faso . Burundi . Cambodia . Cameroon . Cape Verde . Cayman Islands . Central African Republic . Chad . Channel Islands . Chile . China . Christmas Island . Colombia . Comoros . Congo . Congo (Dem. Rep.) . Cook Islands . Costa Rica . Cote d'Ivoire . Croatia . Cuba . Curacao . Cyprus . Czech Republic . Denmark . Djibouti . Dominica . Dominican Republic . East Timor . Ecuador . Egypt . El Salvador . Equatorial Guinea . Eritrea . Estonia . Ethiopia . Falkland Islands and Dependencies . Faroe Islands . Fiji . Finland . France . French Guiana . French Polynesia . Gabon . Gambia . Gaza . Georgia . Germany . Ghana . Gibraltar . Greece . Greenland . Grenada . Guadeloupe . Guam . Guatemala . Guinea . Guinea-Bissau . Guyana . Haiti . Hawaiian Islands . Honduras . Hong Kong . Hungary . Iceland . India . Indonesia . Iran . Iraq . Isle Of Man . Israel . Italy . Ivory Coast . Jamaica . Japan . Johnston Atoll . Jordan . Kazakhstan . Kenya . Kiribati . Korea (North) . Korea (South) . Kuwait . Kyrgyzstan . Laos . Latvia . Lebanon . Leeward Islands . Lesotho . Liberia . Libya . Liechtenstein . Lithuania . Luxembourg . Macau . Macedonia . Madagascar . Malawi . Malaysia . Maldives . Mali . Malta . Marshall Islands . Martinique . Mauritania . Mauritius . Mexico . Micronesia (Federated States) . Midway Islands . Moldova . Monaco . Mongolia . Montserrat . Morocco . Mosquito Coast . Mozambique . Myanmar (Burma) . Namibia . Nauru . Navassa Island . Nepal . Netherlands . Netherlands Antilles . New Caledonia . New Zealand . Nicaragua . Niger . Nigeria . Niue . Norfolk Island . Northern Mariana Islands . Norway . Oman . Pakistan . Palau . Palestine . Panama . Papua New Guinea . Paracel Islands . Paraguay . Peru . Philippines . Pitcairn Islands . Poland . Portugal . Puerto Rico . Qatar . Reunion . Romania . Russia . Rwanda . Ryukyu Islands . Saint Helena . Saint Kitts and Nevis . Saint Lucia . Saint Pierre & Miquelon . Saint Vincent & The Grenadines . Samoa . San Marino . Sao Tome & Principe . Saudi Arabia . Senegal . Serbia . Seychelles . Sierra Leone . Singapore . Slovakia . Slovenia . Solomon Islands . Somalia . South Africa . Spain . Sri Lanka . Sudan . Suriname . Swaziland . Sweden . Switzerland . Syria . Taiwan . Tajikistan . Tanzania . Thailand . Togo . Tonga . Transkei . Trinidad & Tobago . Tunisia . Turkey . Turkmenistan . Turks and Caicos Islands . Tuvalu . US Virgin Islands . Uganda . Ukraine . United Arab Emirates . Upper Volta . Uruguay . Uzbekistan . Vanuatu . Vatican City (Holy See) . Venezuela . Vietnam . Wake Island . Windward Islands . Yemen . Yugoslavia . Zaire . Zambia . Zimbabwe
Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.
French Spanish Bulgarian Chinese (Simplified) Chinese (Traditional) Croation Czech Danish Dutch Finnish German Greek Italian Japanese Korean Norwegian Polish Portuguese Romanian Russian Serbian Slovak Swedish Arabic Hebrew Hungarian Thai Turkish English US