Contents insurance
Contents insurance is a policy offered by insurance providers designed to protect your personal belongings, both inside and outside of your house.
Home contents insurance can be sold either on its own or as part of a combined policy along with buildings insurance. The level of cover will often vary depending on the insurance provider.
What is contents insurance?
Contents insurance helps to protect the personal belongings in your home by contributing towards repair or replacement costs. This applies both to items inside the home, like a television or computer, as well as items outside a home but still on your property, such as garden furniture.
Essentially, contents insurance can cover any item you’d want to take with you if you were to relocate to another home.
When taking out a home contents insurance policy, your provider will ask you to confirm your desired level of cover and you may need to calculate the total value of items in your home. Or your provider may offer you unlimited cover. You may need to agree on an excess amount, which is the part of the claim you’ll pay yourself.
- Electronics – smartphones, TVs, laptops, games consoles
- Furniture – dining tables, sofas, wardrobes, beds
- Clothes/Shoes
- Money – the exact amount will depend on the details of your policy
- Soft furnishings – linen, curtains, cushions
- Kitchen appliances
- Freezer contents
- Theft from sheds, garages or outbuildings
- Alternative accommodation.
What isn’t covered by contents insurance?
The cover provided by your contents insurance will depend on the insurer you choose and their policy, but typically it will not cover:
- Damage to the building itself
- Wear and tear or damage caused by negligence
- Pest infestations
- Damage to fences caused by storms.
This content is provided for information purposes only and does not constitute any advice or recommendation, whether about any insurance product or otherwise.
Legal expenses cover
Also known as family protection cover, this covers the costs and expenses involved in any legal disputes resulting from your contents insurance claim. Some providers may offer this as standard, so it’s best to check.
Personal possessions cover
This addition protects your items against theft or other loss while you’re away from home. This tends to protect items such as mobile phones, handbags, jewellery and watches.
Home emergency cover
Protects you from unexpected incidents such as the breakdown of a boiler or burst pipes.
Accidental damage insurance
This covers you from accidental causes of damage, such as spillages on furniture or accidentally damaging or breaking an important item.
How much contents insurance do I need?
In order to figure out how much cover you need from a contents insurance policy, it’s a good idea to calculate the total value of the items in your home you’d like to protect. This should include anything that you’d wish to take with you if you moved home.
If you’re including high-value items like jewellery in this, it’s important to get an accurate and up-to-date valuation. Any items over £1,000 may need to be listed separately.
It is likely that insurers will set a total claim limit to cover your items based on the size of your home. However you may be able to increase the provider’s set claim limit if your contents are more valuable than the figure they offer.
Check out our guide on estimating the value of your home’s contents to gain a better idea of how much home contents insurance you’ll need.
What are the different types of contents insurance?
Typically, there are a few different types of contents insurance offered by insurance providers.
Bedroom rated – This policy works out your level of cover based on the number of bedrooms in your home.
Sum insured – A sum insured home contents insurance policy works out your cover based on the value of your possessions in the home.
Unlimited sum insured – Similar to a standard sum insured policy, an unlimited sum insured agreement may mean that all of your home’s items will be covered by your policy, without a set claim limit. If you take out a policy like this, it’s still important to check for any single item limits or other details that may limit your claim.
Do you need contents insurance when renting?
Although it’s not a legal requirement, taking out contents insurance when renting is considered sensible.
While homeowners typically need both buildings and contents insurance, when renting, you’ll only need the latter. This protects the items in your home just as it would if you owned the property. Not only that, but contents insurance for renters may help you secure alternative accommodation should you need to temporarily move out of your property.
How soon can you claim on contents insurance?
As soon as your policy officially begins, you should be able to make a claim on contents insurance. It’s a good idea to check your policy’s start date, as it may not necessarily be the day you paid for it.
Does accidental damage insurance cover home contents?
Accidental damage is typically not covered under standard home contents insurance policies. This means that food or drink spillages, or inadvertently breaking a glass item or technology product may not be covered. However, this can be added as an additional extra to many policies.
Does contents insurance cover mobile phones?
Mobile phones, like items such as handbags, wallets, jewellery and watches, are likely to be considered as personal possessions. Therefore, these may not be covered as standard under a contents insurance policy. Like accidental damage, however, this may be added as an additional extra by many providers.
Here at the The Co-operative Bank, our packaged bank account offers mobile phone insurance. Find out more about our Everyday Extra account.
Is my bike covered by contents insurance?
If your bike is stored within your home or property, it will likely be covered by home contents insurance. Depending on the bike’s value, there may be limits or exceptions to this from your insurance provider. However, if your bike is left or stolen from outside your home, it is unlikely to be covered by your home contents insurance.
Does contents insurance cover damage caused by pets?
Damage caused by your pets will not only be difficult to cover under your contents insurance policy, but it’s also unlikely to be covered by additional accidental damage cover. This is because it’s harder for insurers to accurately predict how likely a specific pet is to cause damage.
What does landlords’ contents insurance cover?
Landlords’ contents insurance may cover the cost of replacing any appliances or furniture from a valid insurance claim. This may result in accidental damage caused by a tenant to be covered by the landlord’s insurance, although the landlord may charge any excess to the tenant.
Do I need contents insurance if I’m a student?
It may be a good idea to take out a contents insurance policy as a student before you go to university. It’s worth first checking whether your items may be protected under your parents’ home contents insurance policy. It’s also worth noting that in shared accommodation, your insurance policy may only protect you in the event of violent or forced entry.
Does contents insurance cover expensive personal belongings?
Whether your expensive belongings will be covered by contents insurance will depend on their exact value and the details of your policy. Some policies have a single-item value limit – typically around £1,000 to £1,500. Any items above this limit will not be covered. You may be able to get cover for items above this limit as an additional extra to your policy.
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About LV=
LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Financial Services Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria General Insurance Group of companies. Liverpool Victoria Insurance Company Limited, registered in England and Wales number: 3232514 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number: 202965. Registered address: 57 Ladymead, Guildford, Surrey, GU1 1DB. Tel. 0330 1239970.
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