How to value contents for insurance.

[ProseccoOnTap]

I've just bought a new flat - 3 bedrooms - and have to buy insurance for contents as the buildings is covered separately.

I don't know how to pick a value!

Is there a way of doing it? What items should I include? Is it replacement costs?

Any info appreciated!

Basically estimate how much it would cost to replace all your stuff if your house burnt down.

So think about all your appliances, gadgets etc and work out roughly how much it would cost to replace.

How much will it cost to replace all your clothes?

What about other possessions? Books? Musical instruments? Jewellery? Fancy handbags?

Don’t underinsure as insurers might refuse to pay out if you’ve done this, even if you only claim up to the value insured. So if you think it will cost you £50k to replace everything then don’t insure for £25k thinking you just won’t replace everything.

You don’t need an exact amount though, just a rough estimate of say £50k, £100k etc.

Thanks- that's a good start.

Does it include carpets, kitchen units, bathrooms etc? Or would that be on buildings?

The general rule is that if you turned the house upside down and shake it, contents is anything that falls down and buildings is anything that is stuck down and doesn’t fall - so all the things you mention would be buildings.