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Contents insurance is a type of home insurance policy that compensates you for loss or damage to items and belongings in your home. This includes things like furniture, kitchen appliances and personal possessions such as your clothes or jewellery.
It can sometimes be difficult to define what falls into ‘contents’ but, as a general rule, if you can pick it up and take it with you, it could be included in your contents insurance. For example, a toaster would fall under contents insurance but kitchen cabinets would usually be considered part of the building.
It’s worth knowing that what items are covered will depend on what’s listed in the policy, so it’s a sensible move to always read the small print.
You don’t need contents cover by law but it’s a good idea to have it as without it, the money you spent on your possessions will be completely unprotected. If you don’t have a contents insurance policy and end up having to replace your belongings because they were damaged in a flood, then you would have to foot the bill yourself.
Standalone home contents policies are ideal if you rent your home, as the building itself is usually the landlord’s responsibility, but you can also buy home insurance policies that cover both the building and its contents.
Cover varies depending on who the insurer is, so it’s wise to check all the terms set out in your policy. Typically, you can expect your belongings to be insured for events like:
To give yourself even greater protection, you’ll usually be able to add extra features to your policy – for instance:
Home contents cover is calculated on an amount – known as the ‘sum insured’. This is the maximum amount of money you’ll get for all the items in your home.
To work out what your sum insured should be, go through every room in your home and note down each item and how much it would cost to replace it. It can be a time consuming job but once it’s done, you can rest assured that you’ll be covered for the worst-case scenario.
Don’t forget things that are easy to overlook like pictures, rugs, cushions, and items in your garden or any outbuildings. Remember, garden contents are not always covered by a standard policy so always check with your chosen provider before purchasing.
A single item limit is a cap on the amount of money you’ll get for any one item (also known as a single article limit).
There will usually be a single item limit for your contents and a separate limit for any personal possessions cover that you may choose to take out.
Insurers can limit contents cover with a specified amount, or they might set the limit as a percentage of the sum insured. They can also do the same for personal possessions.
Always double check the single item limit, whether it’s for contents or personal possessions, and make sure it’s enough to cover your most expensive things. If it isn’t, ask if you can extend the cover or see if one of the other policies on offer has a higher limit.
Some home contents policies also cover belongings in your garden and inside sheds, such as outdoor furniture or tools like your lawnmower or leaf blower.
If your policy does cover your shed contents too, there might be certain conditions you need to meet for your tools to be covered. For example, your policy may say the shed needs to be locked.
It’s crucial to have the right insurance for your needs – but at Asda Money, we understand that protecting the things you love can be costly. To save cash without cutting back on cover, think about:
Of course, the best way to ensure you get the right policy at the right price is to shop around and compare what’s on offer – which you can do with Asda.
Searching for contents cover is fuss free and easy. Simply answer a few questions and you'll be presented with quotes from a range of insurers so you can choose what suits you.
Call the team on 0330 0224116