A contents insurance policy can provide cover on a new-for-old basis enabling you not just to replace the affected valuable including household items. The accidental damage of items is also included in your cover. A good policy covers your valuable possessions in the event of damage or loss. Contents insurance will protect the items that you own from severe weather, theft, fire, flooding, civil disorder and impact from vehicles or trees. Although many people never have any of these things affect them, the unexpected can always happen and it pays to have contents insurance in place. If you cannot afford to lose something then it should be insured.
One of the ways to lower cost of the premium is to consider paying more excess. All insurance providers state the minimum amount of excess you would have to pay towards a claim. However if you offer to pay more in excess this can cut down the premiums you pay. You would have to weigh up the fact that you have to pay out the amount of excess in one lump sum out of your own pocket against the savings you make.
You can choose any suitable option from the two main types of contents insurance cover available. One is called indemnity cover, and will replace items whilst taking into consideration their condition and general depreciation. The second and more comprehensive type of cover will replace any damaged or lost items with brand new items at the current market value. Obviously, the latter policy will be more expensive but will cover you more comprehensively, and you should opt for this type as long as you can afford it.
The policy will be more useful if you include cover of damage by natural elements. If you wish to insure your personal effects away from the home, perhaps when you are on holiday, the inclusion of a personal possessions cover would give extra protection. Using a specialist broker could help you find the right contents insurance policy for you. Many insurance providers offer a 24 hours emergency help-line in the event of a claim. They have a list of approved tradespersons who can attend. However, you need to take certain precautions while purchasing a policy.
Calculating how much cover you require is important, as it is easy to misjudge the total value. Once you have a figure in mind, you then need to search for the appropriate cover at a price that suits you. Besides the sum to be assured, other factors influence the price of the premium. The area in which you live might be considered high risk. If you are unable to move to a lower risk area, there are a few things that you could do to help lower the price of the premiums such as joining a neighborhood watch scheme or installing a guaranteed security system.
There are also discounts that can affect the price of your contents insurance. Discounts are available if you buy your policy online and further discounts are achievable if you purchase buildings insurance with the same insurer. If you have not made a claim against your contents insurance in the last three years or more, this will also help towards lower premiums. A specialist broker could assist negotiating discounts and find the best value contents Insurance policy for you.
Many contents insurance policies have special features, such as cover for legal expenses, cover for food spoilage or cover for garages and outbuildings. Obviously the more comprehensive the cover then the most expensive it will be. If you want to keep your premiums low then remove any special features that you think you can do without.