6 Insurance Advantages for Protecting your Expensive Contents

By accessibleproperty

March 20, 2020

If you’re insuring your home, then you’ll also want to insure all of the items in it. After all, many of the threats to your home don’t concern the building itself, but your personal possessions. Some of these items, like jewellery, laptops and televisions, are attractive to would-be thieves, and difficult to replace. Tenants contents insurance helps renters to absorb these costs. 

It should be noted that many insurers will insist on certain conditions being met before they’ll pay out. As such, it’s vital that you read the terms you’re expected to abide by, even if it’s just in passing. These documents might not be the most enthralling read, but they’re worth taking in before you decide upon an insurer.

Let’s take a look at some of the advantages you might accrue through insurance.

Fire

If your house should burn down, or be partially incinerated, then all of the items inside will likely be destroyed. But even if it’s just a minor fire that you’re lucky enough to get on top of before it becomes a major one, you might find that smoke damage has ruined the internal workings of your electronics, or permanently discoloured a valuable painting.

Theft

Another, perhaps more common, threat is theft. If your home has valuable things inside, then would-be burglars will naturally seize upon any opportunity to break in and get them. Given that the majority of break-ins are opportunist ones, you can limit the risk by limiting the visibility of the interior of your home.

You can limit your exposure by adopting the right security measures. Don’t leave expensive items on display, and make sure your home is adequately protected. Many insurers will insist upon a five-lever mortise deadlock. This will deter thieves, and stop them in their tracks.

Vandalism

In some cases, your property may be vulnerable to deliberate sabotage. Garden ornaments, security cameras, and other delicate external items are at the greatest risk of this. The way that your insurer covers vandalism might vary, so be sure to take a look at the differences. 

Accidental Damage

No-one’s perfect, and thus there stands a chance that we might accidentally damage our expensive contents. Water damage to a piece of high-value electronics, like a laptop, might occur at any time, and be difficult to fix. Some insurers will cover this; some will not.

Cover Away From Home

Some policies will cover not just the items in your home, but the ones you’re taking with you. Travelling musicians, photographers and those that want to work from laptops in cafés might be consider this option worth investigating.

New for Old

If your insurer offers new for old cover, then you’ll get a brand new version of the item you’ve lost. If it’s no longer in production, you’ll be able to choose a replacement of similar value.