When you take out contents insurance or renew your policy, don\u2019t underestimate the value of your possessions. Getting it wrong could be a costly mistake with serious consequences.<\/p>\n
If you don\u2019t check your home contents sum insured on a regular basis, then you could find that if you need to make a claim you are underinsured. If you\u2019ve had the same level of cover in place for a few years, and acquired new things in that time, then the sum insured may no longer reflect the up-to-date value of all your possessions. If you don\u2019t have the right level of cover in place and you need to make a claim, you could find that your insurance company reduces the value of your claim substantially, even if it\u2019s for less than the total amount of your cover. If, for example, you have possessions worth \u00a350,000 but only insure them for \u00a325,000, and you make a claim for \u00a310,000, your insurer may reduce the amount they pay out to \u00a35,000 because you are underinsured.<\/p>\n
Other types of policy<\/strong><\/p>\n With \u2018bedroom rated\u2019 policies, the insurer works out the sum insured based on the number of bedrooms you have. These policies typically provide up to \u00a350,000 of cover as standard. This is usually enough for most houses, but you\u2019ll need to make sure it\u2019s enough to cover your possessions. There are also \u2018unlimited sum insured\u2019 policies, which as the name suggests, cover all your contents without imposing a limit, meaning you don\u2019t have to worry about being underinsured. We can help you find the right and most cost-effective policy for your needs.<\/p>\n \ud83d\udea8 Data accurate as of the date of publication \u2013 15.11.2018.<\/p>\n \ud83d\udea8 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.<\/p>\n Source: Intrinsic Quarterly Mortgages Q4 2018 ISSUE 10 \u201cGen up on your maths to save your cash.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" When you take out contents insurance or renew your policy, don\u2019t underestimate the value of your possessions. Getting it wrong could be a costly mistake with serious consequences. If you don\u2019t check your home contents sum insured on a regular basis, then you could find that if you need to make a claim you are […]<\/p>\n","protected":false},"author":1,"featured_media":447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\n
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