Last Updated on July 18, 2016 by Mark Lavington
How much are the contents currently in your property worth if you had to replace them like for like as new? Whether it’s your own home insurance or your holiday home contents insurance, it’s a question we’ve all faced from time to time when seeking a quote. It’s an important question too; go too low and should the worst happen you’ll potentially find yourself short or underinsured. Go too high and you’ll be over insured, paying an unnecessarily high premium year after year.
So how many of us really know the true value of the possessions in our holiday homes?
Is it £25,000? £35,000? Or even more?
Have you considered the soft furnishings, curtains and the carpets? They count too, as do the gadgets, furniture and even the clock hanging from the wall or the ornaments adorning the bedside tables.
Still think you know? If not, here’s our helpful overview to make sure you’re ticking off every item and making an informed decision on the level of cover you really need.
Account for the full replacement cost as new for holiday home contents insurance purposes
You may have queued up from 0600 in the morning on New Years day to furnish your holiday home in the sales at bargain prices but when your three piece suite is damaged beyond repair in mid-summer you’ll want a like for like replacement quickly and without question. For this reason it is important to insure for the full cost as new for all of your holiday home contents, that’s the full retail price without discounts.
One of the biggest growth areas in contents is the sheer volume of gadgets we all have in our homes, and holiday cottages are no exception. Make a list of the items you have including some of the following:
- Televisions, DVD players and other entertainment systems such as PlayStation’s or an Xbox
- White goods including your freestanding oven, microwave, dishwasher, fridge freezer, washing machine and tumble drier.
- Remember your cleaning equipment also counts, so add that shiny Dyson or humble Hettie the Hoover in there too!
The furniture throughout your holiday home will add up to a considerable cost should it need to be replaced. Go through each room and make note of all of the furniture and furnishings and other contents in each, not forgetting to open the drawers and cupboards where spare bedding, linen or towels may be stored:
- Your sofas are likely to be the key item in the living room; don’t forget to include any soft furnishings you’ve added to them too such as scatter cushions.
- When it comes to bedrooms and your beds you’re going to want to include both the frame and the mattress (even the pillows and the bedding too), which can be expensive should they need to be replaced.
- Where do your guests enjoy an evening meal? If it’s at a dining table and chairs be sure to add this to the list.
- Those kitchen utensils, pots, pans, dinner service and cutlery they’re making and eating their meal with? You’ve got it; they need to be included too!
- Not forgetting small appliances such as the kettle, toaster, iron and barista machine if you have one!
Child friendly holiday homes
Regularly welcome young families to your holiday home? You might have some of the following in your cottage:
- Stair gates
- Play equipment
Garage and garden items
Thinking outside of the home and into the garden shed, are you including the items that make that garden look as pristine as it does?
- If not then factor in cover for items such as your lawnmower and garden tools.
- Trampolines, and other play equipment would also form part of this section of your contents.
- Patio and garden furniture
- Ceramic planters, garden ornaments and statues, it all adds up
Those items you might not think of
When we think of contents we often think of personal items such as clothing, or other accessories such as our television. Here are a few you’ll need to allow for that might not immediately spring to mind:
- Lighting, including lamps, and the light bulbs throughout your cottage.
- The curtains and blinds in all of your rooms.
- Carpets and floor coverings or rugs (commonly forgotten).
‘High risk’ items
If you have any particularly high value items within your holiday home, such as expensive pieces of art such as prints, paintings and sculptures, then these may need to be listed separately within your policy. Ask your insurer about these items when receiving your quote.
Once you’ve added up the replacement cost of the above, check it against your current sums insured and speak to your broker to increase your cover if necessary.
Boshers offer specialist holiday home insurance to owners across the UK. For more information on how a specialist insurer can help and support your holiday home business, please give us a call on 01237 429444.
For further information on UK holiday home insurance visit the website page most relevant to you:
- Click here if you require holiday let insurance for your annexe
- Cick here if you own a single furnished holiday letting home, cottage or apartment
- Click here if you own a listed holiday home or cottage complex
- Click here if you own a holiday cottage complex
N.B. This article is only an indication of the items that you should be considering when calculating your potential contents insurance. Please speak with us for further information or a quote for your holiday home insurance.