Home Contents Insurance

It is the contents of a house that change it from a building into your home.  Although most mortgages require that you have Building Insurance to cover damage to your house, its contents are only of concern to you and your family.  Home Contents Insurance may not prevent your possessions from damage or loss, but it will make the replacement easier to finance.

Home Contents Insurance should not be confused with House Insurance or Building Insurance .  House Insurance covers damage to the building itself and possibly some of the fixtures; Home Contents insurance covers damage or loss of your possessions within the building - you should consider both.  Many companies offer Home Insurance Packages combining Building and Contents Insurance.

There are various types of cover available for Home Contents Policies - one of the main choices is whether you want to provide for the current value of the contents (taking into account the reduced value due to wear and tear) or whether you want "new for old" replacement.  "New for old" replacement cover cost more, but will allow you to purchase replacements more easily without needing to find extra money.

Different Policies will cover you for different risks - usually they will include some cover for personal possessions and cash as well as the actual house contents.  If you have any particularly valuable assets - antique furniture, jewellery and such like - make sure that items are itemized and values agreed with your insurer - otherwise they may not be fully covered if they differ from the typical contents of your type of property.

The price of Home Contents Insurance can vary significantly from company to company.  Compare various quotes and ensure that they provide you with the cover you need and reflect any specific circumstances - for instance, if your house is in an area know to be subject to flooding.

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