Valuing your homes contents
You may need to calculate the value of your home's contents to make sure you are fully covered by your policy. Some insurers will provide coverage for contents up to a certain limit so check if you the total value of your contents is likely to exceed this.
The best way to calculate the value of your home's contents:
- make an inventory of all your possessions. There are various apps that can help you do this
- go through each room and don’t forget to include items in attics, basements, sheds and garages
- if you do not have receipts for all your possessions use the internet or shopping catalogues to help you work out the cost of each item
- tell your insurer about any expensive items you own to make sure they are covered by your policy. If you buy anything valuable after taking out your policy contact your insurer to make sure your new purchases are covered
Most insurers impose a single item limit – a maximum amount they will pay for any individual item regardless of its value. If your insurer’s single item limit is £1,500 and a necklace worth £2,500 is stolen from your home your insurer will only pay out £1,500 if you make a claim.
Download the ABI's guide to buildings and contents insurance (pdf 254kB).
Have you considered the following when purchasing home contents insurance?
- Do I know the value of my contents?
- Do I have any particularly valuable items, art or antiques that may require extra cover?
- Do I want additional cover such as personal possessions away from the home?
- Are any of my contents covered under other policies such as travel insurance or mobile phone insurance?
- What security measures do I have around my home?