Home and contents insurance, also referred to as personal property coverage in some policies, is coverage you get for your properties, either as an individual or a landlord. Buildings and contents insurance cover different things.
Contents insurance covers you should anything happen to the properties in your home If thieves break into your home and make away with your laptop or your clothes are damaged by a firebreak,k getting content insurance helps cover the cost of repair or replacement of those items. In a situation where the items in your home are destroyed by your kids, this policy covers the cost of repair.
While building insurance covers the structural features of your home. If you want to know much more about contents insurance, buildings, and contents insurance, this is the right article.
What is content insurance?
Content insurance can otherwise be called personal property coverage by some policy providers. It is a cover for the cost of repair or replacement of the damaged items in your home or rented apartment. There is a clear difference between building and contents insurance. Contents cover is only effective for the permanent contents of your home like the curtains, carpet, etc.
But if you want to get extra cover for your regularly used items like your jewelry, camera, or gadgets and the stuff you can travel with, you would have to get an extra cover for them. Content insurance works for family members as well as landlords and tenants.
If you got an insurance cover for the contents of your home, it does not automatically include the Items your friends bring into your home.
Why get content insurance
Any human on earth would rejoice when they think of someone else footing their bill.
And most importantly, not a family person who is fully aware that destruction or damage of items in the home is inevitable nor a landlord who rents out his property to a total stranger who may be destructive or careless in handling the item properties.
Even a person who has all the money he would need in the world would still consider saving up some other things. The damaged items in your home, when you think of always repairing or replacing them, you can testify to that feeling better news that some policies which offer New-for-old cover, would replace your old items with new ones of the same quality, now that is interesting I know. Now also think of a case where thieves come into your house as a homeowner
And takes away all your belongings, ranging from your TV to other valuable items, where would you start from in the replacement, why would you even want to go through that stress when there is something you can do to save yourself of such stress.
Getting insurance cover for the contents of your home does not only save you the money spent, but also the emotional and mental stress of how to go about the replacements.
Who can get content insurance?
Content insurance is for anyone who has content in their apartment, be it homeowner, landlord, tenant anyone. What is more important to know is the fact that a landlord or your landlord’s content insurance In your rented apartment does not cover the properties you brought in.
Your father’s homeowner content insurance does not cover the stolen items of your friend which they brought to your place. The content cover does not just you well, but also the contents of your home they need to have that feeling that they are in safe hands when getting content insurance.
Insurance for your contents is not required by law, but you should do it in the same way that eating is not required by law, but we do it because we would die if we did not. When you decide to leave your parent’s house and live on your own, or when you choose to rent out your property to people you may or may not know, that is the perfect time to get the cover.
Home vs landlord insurance
Accidental damage at home is covered by home insurance. It comes in two varieties: buildings insurance and contents insurance. Building insurance covers the structural features of the home from the roof to the foundation, whereas contents insurance covers the items found in the building. Getting insurance for your home has no bearing on your rented apartment as a landlord.
So, when a homeowner goes for content insurance coverage, they are getting it for ONLY their own properties and it does not matter if a particular property was there at the moment of insurance.
But when a friend of yours brings with them an object or more into your house and either of them gets stolen or destroyed by flood, fire outbreak or any other covered peril, they bear their cross and cover the cost of repair or replacement of their properties.
And, although some policies do not cover a few of your minor properties like a camera, some few offer cover for them at limited consideration.
Landlord vs tenant
A landlord is a person who has decided to invest his property on rent to different people while some collect their rent monthly, others collect annually. So, when a landlord gets a cover for his rented apartment(s), it means that the contents that are or were
In the house are what would be covered not including the properties that the tenant may bring into the house such as spoons, pots, television etc. But they can get a separate cover for their properties.
That being said, homeowners content insurance covers the items in a person’s house while landlord content insurance covers the items in the landlord’s rented apartment, not excluding the properties in their house and or that their tenant brings into the apartment.
What contents insurance covers
There is a list of things that content insurance covers but excludes the building.
- Carpets
- Rug
- Curtain
- Electronics like TV
- Cushions
- Tables
- Laptops etc
Companies that offer contents insurance
Here are companies that offer contents insurance:
All state
Allstate is one of the best insurance companies in the UK. They do not only deal with insurance, they cover you for more. Their content insurance comes in two types replacement cost and actual value cost coverage.
Age co
Their offer comes in bulk and it includes
- £500,00 rebuilding costs
- Up to £100,000 contents cover subject to terms and conditions
- Accident damage
- Contents insurance will also cover loss or damage to household goods
- Replacements of external locks
- Theft of valuables, including jewellery, money and credit cards.
Nationwide
Policyholders get new-for-old cover on their belonging with nationwide and an individual item limit of up to £30,000 Things like accidental damage cover, home emergency cover and cover for matching items are available as optional extras to your policy.
Whatever the cost, nationwide will cover the repair or replacement of your damaged items.
In the standard you have; garages, outbuildings, fixtures and fittings like your kitchen or bathroom.
Direct line
Offers up to £100,000 of contents cover with a £4,000 limit on the value of a single item.
A score of 4.3 out of 5 on Trustpilot across all of its insurance products based on more than 6,000 reviews, with 64% of users stating their experience as ‘Excellent’.John Lewis
John lewis Gold content cover offers unlimited cover on content repair and replacement.
You can claim up to £40,000 to repair or replace valuables in the home. With Gold contents cover, you will be able to claim up to £5000 for outdoor content (plus theft from garages and other outbuildings), Utility or fuel charges from accidental loss and loss of media downloads.
Cost of contents insurance
The most important thing for you to do before jumping into getting an insurance cover is a comparison It is important to know the different costs of different companies and policies before settling for the one that suits you.
The above-listed companies have different charges both on claims and standards.
What comparison does for you is open your eyes, although some may be cheaper than others, they still deliver to taste. So the first thing the cost of insuring the content of your home will require, or the first and most important step to take before getting a cover is to compare policies and prices. A very quick fact about the cost of content cover is
The national average cost of home insurance which may include content cover, Is $1,383 per year for $250,000 in dwelling coverage. The cost of home contents insurance may not be the same as buildings and contents insurance.
FAQs about contents insurance
Can content insurance cover mobile phone
Your mobile phone can only be covered when it is at home, where the contents are insured.
Does content cover work in a shared house
In a shared house, you can find rental cover for the items in your room.
What does content insurance cover
Content insurance covers the items in your home, rented apartment, and hostel against loss or damage.
Is content insurance worth it
Yes. Contents insurance covers you should anything happen to the properties in your home If thieves break into your home and make away with your laptop or your clothes are damaged by a fire outbreak
Is content insurance mandatory
No. By law content insurance is not mandatory, but it is advisable to save yourself the stress of repairing or replacement of the damaged items in your home or office.
