Building Contents Insurance: Protection You Can Count On

2007-03-08 10:33:40

( Insurance )



Though building contents insurance is often sold together with buildings insurance, insurance companies now give you the option to insure only the former.

Building contents insurance gives you protection from loss or damages caused by fire, smoke, theft, lightning, earthquake, storm or flood, including water escaping from water tanks and leakage of heating fuel, on your building’s contents.

Building contents insurance covers household goods such as radios; TVs; games, recording and audio equipment; mirrors and fixed glass as well as personal property, valuables and pedal cycles. Even food inside freezers is included. It also covers any office furniture and computer equipment which you own and keep in your homes, even if they are being used for business purposes.

Those not covered in the contents insurance are vehicles and craft, deeds and documents showing ownership of financial investments, animals and specifically insured items.

When you have mortgaged your homes, lenders require buildings insurance as security, but not building contents insurance. Even if your homes are not mortgaged, it is highly recommended that when you get buildings insurance, always get building contents insurance, as well.

To know how much you would have your building contents insured, take time out to closely assess the value of your building’s contents. Then get contents insurance for the amount it would cost you to replace them as new. By doing this, you make sure you are not under or over-insured.

Admittedly, house contents insurance is an expensive necessity. There are, however, ways to reduce the premium on your contents insurance.

One, purchase it together with your buildings insurance to avail of discounts. Two, avail of “no claims” discount when you can. Three, purchase online since insurers give additional discounts for such purchases. Four, install burglar alarms, insurer-approved locks on all external doors and make sure your door’s thickness meets the insurer’s specifications.

These are just some of the ways to bring down premium. With plenty of contents insurers around, make sure to find the one that will give you the best cover and price.


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