We are including information on contents insurance on this website as many people require to purchase it as a stand alone product. Today many people still have their building insurance arranged by their mortgage provider so they are left to arrange their own Contents Insurance cover. Lets start off with a definition of Contents Insurance. Household contents includes just about anything in the home including items you keep in the garage or any outbuildings, belonging to you or a member of your family. It also includes contents that you are responsible for; maybe you have rented a television or other electrical appliance. In simple terms anything you would take with you when you quit or sell the property is covered. Most policies will now extend contents insurance to cover items temporarily away from the home but the cover can be quite restrictive. If you require "wider" All Risks insurance, you need to add a separate section to your policy. This wider section is a lot more expensive and is usually reserved for items of a special value that you are worried about loosing or you take with you on a regular basis ( Items of Jewellery, Camera Equipment etc).
Most Contents Insurance policies cover a wide range of perils, fairly similar to your standard building cover. As well as the perils you will also receive Occupiers Liability insurance cover and this is a very valuable addition. An example would be a guest tripping over a carpet in your home. The law can be very complicated when it comes to sorting out owners liability ( covered by the building) and occupiers liability ( cover by contents insurance). It is best left to an insurance company to sort this mater out in the event of a claim suffice to say that if you have both Buildings & Contents insurance will get the correct liability insurance over.
Most modern policies now provide contents insurance on a new for old basis.. Quite simply in the event of an insured loss, your old item will be replaced by a new one. Nowadays, insurers tend not to offer cash preferring to actually replace the item concerned. To make sure you receive the full benefit of this cover, you have to make sure you have insured your contents for their full replacement value. If you fail to do this and a claim occurs, you may find that your insurer will apply an average clause.