Contents Insurance

What it does

It covers the loss of or damage to the contents of your home, including your furniture, electrical goods and other items within your home, and also items you take outside, for example cameras, jewellery and briefcases. Different policies offer different levels of cover but generally you’ll be covered against theft and fire, and have the option to insure against damage you may cause by accident.
What’s covered

Some companies have limits on the value of any one item under the general policy so you’ll need to specify individual items such as expensive jewellery or camera equipment, for example. Your cover may also be affected or cancelled if you leave your home empty for a long period of time, or if you let it out. Damage to the building itself is also not covered; this needs to be covered separately with buildings insurance.
Keeping costs down

Smith Coffin Private Finance Ltd are hear to help you get a competitive and appropriate insurance policy and its worth noting the following points when discussing your needs

Many insurers will offer discounts if you have a burglar alarm or window locks or if you’re a member of a Neighbourhood Watch scheme. You may also get a deal if you combine buildings and contents insurance.

Most policies have a standard excess charge, which means you agree to pay the first part of any claim, for example the first £50 or £100. If you agree to pay a higher excess you might get a cheaper policy.

Its always advisable to compare what’s covered by a policy, not just the price – the key policy information will help you do this. Some might be cheaper than others, but they may not offer the same level of protection.
Don’t under-insure

The average home contains over £40,000 in clothes, kitchen gadgets, electronics and furniture so its important to insure accurately. If you under-insure your goods the insurer would only be obliged to pay out half of what you claim for.
Level of cover – source: January 2012

Some contents insurance policies offer ‘new for old’. This means they’ll replace old damaged appliances and possessions with new ones when you claim.

Bear in mind that your premiums may increase the following year, or the insurance company may refuse to cover you for the same risk if it happens more than twice, for example.

For all Insurance policies, individual terms, conditions, exclusions limitations and excess may apply depending on the particular risk being covered and it is important to disclose all material facts that will have a bearing on the proposed policy to ensure that you are adequately covered in the event of making a claim

Please always refer to your policy terms and conditions booklet which is included with your certificate of insurance. Please contact us for full details.