How much contents insurance do I need?

Accurately estimating the value of your possessions is vital for ensuring that everything’s covered by your contents insurance.

Your house is made up of bricks and mortar, but it’s the things inside that make it your home. From your furniture and your appliances to your clothes, jewellery and family heirlooms, everything has a value. And if the worst were to happen, you want to make sure you can replace it all.

Contents insurance is there to protect the things you love against loss, theft or damage, and it’s important that you value your possessions as accurately as you can and apply for the right level of cover. If you were to underestimate the value of your home’s contents, you might not be able to claim for everything if your home was burgled or damaged by a flood or fire.

How much contents insurance should I get?

How much insurance you get should be based on the value of your possessions. It might be tempting to hazard a guess at how much your home’s contents are worth, but you could end up with insufficient cover. For peace of mind, it’s far better to spend a bit of time accurately valuing your possessions.

Use our contents calculator to work out what you need.

Calculate your contents

What should I include in my contents cover?

You should include everything you would take with you if you were to move home. This includes valuables, furniture, gadgets and freestanding appliances.

Permanent fixtures and fittings, including fitted wardrobes and kitchen units, should be covered by your buildings insurance (although fitted carpets come under the contents side of things).

How do I work out the value of my contents?

The best thing to do is go room to room, making a list of all your possessions and their values so that you can add them up and work out the overall value of your home’s contents. For insurance purposes, the value of an item is usually the amount of money it would cost to replace the item today, rather than how much you paid for it originally.

It’s also a good idea to take photos of each room and of specific valuables so that you have proof of ownership if you need to make a claim.

Here’s an example of what might be included in each room:

Make a note of any high-value items

Most contents insurance policies will have a single-item limit, which is the maximum amount it will pay out for any one item. With Saga contents insurance, the single-item limit is £2,500 for valuables and belongings, and £1,000 for bicycles.

If you have any high value items – such as family heirlooms, jewellery and electrical items – that exceed this limit, you’ll need to let your insurer know and add these as named items on your policy.

It’s also a good idea to get an up-to-date valuation of valuable items before you get an insurance quote.

Do I need to update my contents cover if I buy something new?

It depends on the value of your new item. If it’s a small purchase, then there’s usually no need to let your insurer know. But if you buy something valuable, you’ll need to add it to your cover.

Do I need to have receipts for my valuables?

Your insurer may ask you to provide proof of purchase – either in the form of a receipt or a bank statement that shows the amount you paid for an item.

For items like jewellery or expensive artwork, you may also need to provide an up-to-date professional valuation certificate.

Once you’ve valued your possessions and worked out how much cover you need, get a quote to protect your home with Saga.