Take House Contents Insurance Before It's Too Late

2008-09-24 15:56:03

( Insurance )



You may have acquired several personal possessions, such as the latest model of flat-screen television, antiques, jewelry, laptops and other valuable items, in recent years, but you never bother to take out house contents insurance. Perhaps, it is time to seriously consider buying contents insurance. You might regret not being covered when you lose these movable items due to hazards such as fire, accidental damage or breakage, theft, among others.

While it is mandatory that you should get a house cover when you take out your mortgage, house contents insurance is only optional. You may save some money if you do not include contents insurance, but in the event of total loss of your house contents, you may find it difficult to replace them because of the rising cost.

Undervaluation Can Be Costly

If you have taken cheap contents insurance a year ago, you may want to review it this year. You might have underestimated the value of your movable items. Keep in mind that if you file a claim, insurers would only be willing to pay the amount to which you are insured. Some insurance companies would even impose penalty if they find out that you undervalue your house contents. You would not want this to happen to you, so it is better to declare the true value of your personal possessions.

Make an Inventory

To make sure that you do not undervalue the items inside your home, make a detailed inventory. There are cost guides that you can use to help you list and determine the value of your house contents. List all the items you find inside your home, as well as those in your garden. You may video all your belongings, and keep the film in a safe place. This way, it would be easy to prove your house contents insurance claims.


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