Do you have the right Contents Cover?
You may not realise how important your contents are until something goes badly wrong.
When disaster strikes, you might find that you need new replacement of your belongings. A depreciated cash pay out may not be enough to get back on track.
Replacement vs. Present Value
Insurers often have options for a comprehensive contents cover, and a less extensive present value cover.
Comprehensive policies typically have new replacement cover for most of your belongings. Present value policies offer more affordable premiums, but only pay out depreciated, second-hand item values.
Pay out difference between a replacement and present value policy is significant for items that lose value quickly. A six month old used phone is worth significantly less than buying the same phone new.
Benefits of Combined House & Contents
You can save time and money by combining home and contents cover in one easy policy and place.
This helps come claim time. If both your house and contents are damaged (think flood, or forceful burglary), it’s easier to manage both claims under a single policy and insurer. You also get the benefit of only paying one excess.