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.
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:
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:
Regularly welcome young families to your holiday home? You might have some of the following in your cottage:
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?
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:
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.
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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.