Can you imagine building up the things in your home over the years, with all the memories and love they hold, not to mention how much they cost? Now, can you imagine what would happen if something bad happened and you lost everything in a fire or flood?
Even though it's not a nice thing to think about, it does happen, and that's when content insurance comes in handy. Even though it can't bring back all the memories, it can replace the things and help pay for them.
Most general home insurance policies will cover your belongings in the event of a flood, fire, or theft. Some policies will also cover accidental damage to your belongings. Most of the things in your home, like furniture, household goods, and electronics, are covered by the policy. Most companies will also let you add things like jewellery, bicycles, and the contents of your freezer, as long as you don't go over a certain limit.
The easiest way to figure out if an item is covered by a policy is to think about whether you would take it with you if you moved. If the answer is "yes," then the policy probably covers it.
When looking for a policy, it's important to shop around because premiums and what's included in the policy vary a lot. If you're not sure about something, you should always ask.
When looking for a quote, you should also be careful not to underestimate the value of the things in your home. This is very easy to do. Walk slowly through your home with a pen and paper, writing down everything you see and adding it up as you go. Think about how much it would cost to replace things like your DVDs or the clothes in your closet. You might be surprised at how quickly the costs will add up.
The most important thing is to make sure you know what is covered; don't just assume it. With any policy, there will be things that aren't covered, and the most basic policy won't cover everything in your home. For example, most insurance policies won't cover antiques, photography equipment, jewellery made of gold and precious stones, or computer equipment. If you want coverage for certain things, you'll have to pay extra to add them to your policy.
