Contents Insurance
It’s the things inside your house that make it uniquely yours. Give yourself peace of mind by insuring them with the right cover.
What is contents insurance?
The bricks and mortar might make the house that you’re buying, but it’s the contents inside that help to make it a comfortable home. Contents Insurance covers loss, theft or damage to the belongings in your home. It can also cover those items when they are out of the home (e.g. an expensive watch or laptop).
Do I need contents insurance?
Unlike buildings insurance, contents insurance is not a stipulation of mortgage lenders. However, it does make sense to be reassured that you won’t need to cover the cost of replacing your belongings should the worst happen.
How we can help
At Downton Mortgages & Financial Services, we take the time to understand your unique circumstances, research the insurance market and answer any questions you might have. Once you are happy with your choice of provider, we will manage the whole application on your behalf.
How does it work?
You pay your chosen insurance company (either monthly or in one lump sum) and in turn you get a policy protecting your contents against certain risks (normally for a year). If something happens to your belongings, you make a claim and your insurer pays you either the current value or new value of those items.
It’s common to get a combined buildings and contents insurance policy with one provider. This can work out more cost-effective than buying them separately.
Frequently asked questions
Can I insure contents that are in storage?
Yes, though depending on how long your contents are going to be in storage, you may need a specialist contents insurance policy. Chatting through your specific requirements with a financial adviser will give you the peace of mind that your contents are covered wherever their location.
Can I insure items that I take out of the home?
Depending on your policy, you might need to pay extra to cover your valuables out of the home such as a camera or engagement ring.
What is “new for old” insurance?
“New for old” is the most common type of contents insurance policy which means that if something is lost, damaged or stolen you will receive a brand-new, like-for-like replacement. It is unusual for a policy to offer “indemnity” cover but it is worth checking this. This means that your insurance will pay you the current market value of the item that is being claimed for (e.g. the value of a 20 year old piano rather than a brand new piano)
You may have many more questions about contents insurance that aren’t covered here. If you want to speak to a friendly and knowledgeable financial adviser in more detail, then get in touch to arrange a no obligation call to discuss your individual circumstances.
Get in touch
We’re here to help with any questions you might have about our services. Send us an email, pick up the phone or fill out our contact form. We look forward to hearing from you.
Personal information will be treated as confidential by us and held in accordance with GDPR May 2018 requirements. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.