Improve your maths to save your cash
When you take out or renew your contents insurance, it’s important to get your sums right. If you were to “guesstimate” the figure you want to be insured for and undervalue your possessions, you could face serious problems in the event of a claim. So, if you only paid for £25,000 of home contents cover, but the total value of your home contents is £50,000, any claim you make, even for a single item included at the correct value, could be scaled-down pro rata.
GETTING IT RIGHT
The best way to ensure that everything is covered is to make a list of all the items in each room of your house, not forgetting things you keep in cupboards, attics, the garage and out-buildings.
Some insurers will limit the maximum amount they will pay out for a single item, so you’ll need to provide details of your valuable possessions. If you have high value items like jewellery, antiques and heirlooms, you’ll need to get a professional valuation certificate. Remember to have them revalued regularly and update your insurance policy accordingly.