If you have home insurance without contents cover, you could be putting your belongings at serious risk. Many people wonder “does home insurance cover contents too?” and the simple answer is that usually not. In most cases, you will have to add additional cover to your policy to cover the contents of your home. But is it worth doing?
Here are the main advantages and disadvantages of home and contents insurance:
One of the things that truly makes a house a home, is the belongings inside it. After spending a lifetime gathering the things you own, nothing can be more disheartening than losing it all in an accident outside of your control. To save yourself from this frustration, contents cover is the way forward to give you peace of mind. In addition to removing this worry, contents insurance also greatly reduces the costs involved in replacing your possessions, which can be astronomical without contents insurance.
Depending on who you take the cover out with, you may get access to a dedicated helpline. These helplines can be great for pointing you in the right direction with any issue you may have with the insurance policy.
Something to consider, however, is there are more costs involved than just the increase in your premiums. You will generally have to pay a voluntary excess in the event of a claim, namely the value up to which you pay before your cover kicks in. There may also be an upper limit on the monetary amount you can claim up to, meaning not all contents will be covered in the event of a total loss event occurring. You should consult with an insurance professional to learn more about maximum cover limits.
Contacting A Financial Professional
To discover if home and contents insurance is the right choice for you, contact Crystal Clear Financial Planning today.
Risk Warning: As with all insurance policies, conditions and exclusions will apply.