The least expensive option, which gives you the bare minimum of cover, is a defined events policy, which would typically only cover your belongings if they were lost through defined events such as fire or if you were burgled. For a much broader level of coverage , policies that include accidental damage will protect you against the cost of incidents such as accidental breakage, or even a stain on a lounge or carpet. Some contents policies may also give you the option to cover some of your personal possessions or valuables away from home, such as sports equipment, jewellery or cameras, though there is usually a limit for unspecified items.
Check with your insurer to see what restrictions apply. Most contents policies have fixed, unfixed or flexible limits on how much you can normally claim for certain items.
Valuable items may need to be insured for a higher specific value or listed separately under your policy otherwise they might not be covered for their full value or may be excluded from a claim.
You may need to pay an additional premium to properly insure all valuable items. You should also declare anything that could be classified as a collection to your insurer, such as DVDs, rare books or stamps.
The Understand Insurance contents inventory template can help you manage your contents policy. When cataloguing your belongings keep your list as detailed as possible. Serial numbers, receipts, photos and information about the condition and year items were purchased will help you work out how much to insure for. This list, along with documents showing proof of ownership, may be helpful if you need to make a claim.
By reviewing your contents inventory each year and updating your policy, you can help make sure you are always fully covered. The annual renewal of your insurance policy is a good reminder to review and update your home contents inventory, and make sure your amount insured is accurate. Many insurers have inventory apps for smartphones and portable electronic devices, as well as downloadable online programs that may help you put together your own home contents inventory.
You can use our calculator to help work out the value of your contents. If something unexpected happened, such as a fire, how would you replace your clothes, furniture, white goods and electronic items without the help of insurance?
Would you have enough savings, or would you have to rely on family, friends and charities to recover? Underinsurance — when the policyholder takes out insurance that covers less than the value of their possessions — is widespread.
For example, say your diamond ring is stolen. This is where scheduled personal property coverage may help. Scheduled personal property — often referred to as rider , floater or endorsement — is an optional coverage you can purchase to provide additional protection for certain valuables such as art, antiques, furs, jewelry or musical instruments.
To schedule an item, you'll typically need to have the item professionally appraised, according to the III. Other benefits to scheduling items may include coverage for a greater number of risks and no deductible payment if you need to file a claim. Contents insurance typically covers your personal belongings while they're in your home or in transit to a new home, according to the III. However, this coverage usually doesn't pay for damage to your belongings when it was caused by movers — whether when they were packing the items or physically moving them.
It's a good idea to talk to your insurance agent when you're buying a new home to understand how your belongings are covered during a move. It's also important to remember that you will need a new homeowners insurance policy when you purchase a new home. This is because a new home has different risks and needs that may require different coverages. If you move any belongings into a storage unit , contents insurance may provide protection for the items against certain perils, such as fire or theft.
However, keep in mind that coverage limits may be lower for items that are off premise. Be sure to check with your policy or consult with your agent to understand how much coverage you have for these items. A local agent can help you review your existing insurance coverage and answer any questions you may have about protecting your belongings. With a better understanding of how insurance helps protect the contents of your house or apartment, you can be prepared to select the coverages that are right for your situation.
What Is Scheduled Personal Property? What Is Personal Property Coverage? Retrieve a saved quote. Skip to main content Explore Allstate. Popular Searches. Allstate We help customers realize their hopes and dreams by providing the best products and services to protect them from life's uncertainties and prepare them for the future. Skip to main content Toggle navigation Log in.
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Home contents insurance policies are usually worked either on the number of rooms in your house. These are known as bedroom rated polices. Alternatively, they may be based on the total value of the contents and possessions you own.
These are called sum-insured policies. Premiums can be higher if you take out a policy worked out on the number of rooms but they may offer more cover.
You must give your insurer as much information as you can about anything that might affect their decision to insure you, or how much to charge you. You must also tell them about any changes in your circumstances. Skip to navigation Skip to content Skip to footer. Top links Housing benefit. Top links Template letter to raise a grievance at work. Top links Our pensions advice Write a letter to your creditors. Top links If you want a refund because of coronavirus Contact the consumer helpline Report to Trading Standards Problems with a used car Return faulty goods Buying a used car Your energy supply View all.
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