Cost of Contents Insurance Guide

Are your possessions properly covered?

Young family of four unpacking their belongings whilst sat in their new house

Contents insurance is about making sure your possessions are properly covered against possible damage from certain events or break-ins. It’s essential that you’re covered for the proper value of your belongings, otherwise you could find yourself out of pocket if the worst should happen. Find out how to make sure you’re properly covered and how the cost of contents insurance is worked out in our guide.

How much does contents insurance cost?


There isn’t a fixed price for contents insurance, as the cost all depends on how much you want to cover your belongings for and the type of cover you opt for.

Your contents insurance cost will be tailored to you and your belongings, and will be calculated by insurance providers using the information provided when you compare contents insurance quotes. When figuring out how the total amount you need to cover your possessions, you need to go around your home and add up the cost of replacing each item or piece of furniture. As with buildings insurance, the amount should reflect how much it would cost to replace the item, rather than how much you paid for it.

If you have any particularly valuable objects, such as an antique, you should get an up-to-date valuation from an expert, so you know how much to insure it for. Most providers have a maximum value per item, so if something is worth more than the maximum, you might need to list it separately. 

The more it would cost to replace all your possessions, generally the higher the cost of your premiums. The main thing is to make sure you’re properly covered for the correct amount.

Is it cheaper to get buildings and contents insurance together?


If you’re a homeowner, it can potentially be cheaper to get combined buildings and contents insurance quotes as providers will want to appeal to people in the market for both policies.

Combined buildings and contents insurance can also reduce the risk of disputes when making a claim, as any claim which involves both your contents and the structure of your home would go through the same provider rather than two separate providers.

Top Home Insurance FAQs:

Do I need Home Insurance?

Neither buildings insurance nor contents insurance are actually legally required so, technically, no you don’t need them. However, some mortgage providers will require you to have at least buildings insurance before lending you money to make sure that their loan is protected and, without home insurance, you run the risk of being responsible for the full cost of any repairs your home needs after a serious incident like a fire.

Especially if you own your home, getting home insurance is a sensible decision to make sure you’re not caught out unprotected in the event of a disaster.

Is theft covered by Home Insurance?

This will vary from provider to provider but, generally, theft of your belongings will be covered by contents insurance. Following the general rule that contents insurance is to cover your possessions while buildings insurance insures you for damage to the structure of your home, standalone buildings insurance typically won’t include coverage for theft.

What does accidental damage mean?

Again, the definition of accidental damage varies depending on who you choose to take a home insurance policy with. In most cases, however, accidental damage cover will protect you against damage that’s caused suddenly by non-deliberate actions. This could include knocking over a glass of wine and ruining your carpet, drilling into your wall and hitting a pipe, or even a toddler bumping into your TV and causing it to topple and break.

Will I need a credit check?

If you choose to pay for your home insurance policy in monthly instalments over the course of the year, it’s likely that a credit check will be necessary to make sure you can pay the full sum back. This will usually be a soft credit check, however, which won’t leave a record on your credit history. When you buy annually, credit checks generally aren’t required.