Your home contents insurance could really come in handy if you suffer from an accident in your home which causes you to damage your possessions.

While all policies don’t provide the same type of cover, and the cover depends on how much you pay for your premium and also the type of cover you take, some items in your home can be covered for accidental damage.

If you have buildings insurance then your policy will probably cover you to some extent against accidental damage to windows and pipes through which an accident causes them to burst, or sanitary ware.

The same can be said for home contents insurance. Should you accidentally burst a pipe and water damages your possessions, then to an extent you could be covered for the damage. In some cases the contents of your freezer will be covered should this be damaged due to an accident or the contents damaged due even a long power cut.

Accidental damage that occurs to TV screens, computer screens and similar items could also be covered by your policy.

However not all policies allow and will pay out for accidental damage, so it is important that you understand what is and is not covered by the policy. This is also an important factor to take into account when comparing premiums and you should do so on a like-for-like basis. Premiums vary a lot so do look into what is actually covered in the policy. Some times prices will vary from company to company for the same cover, but then it can also be due to the fact that a certain policy does include more accidental damage than the other.

If your policy doesn’t include accidental cover or is very limited then it could be well worth thinking about taking out extra accidental damage cover. The truth is that no one knows when an accident will occur and sometimes accidents can be very costly. Shop around online for the policy that gives you the best amount of accidental cover while still being reasonable in premiums.

Always read the small print of a policy and never take for granted that something will be covered for accidental damage. However, should the worst come to the worst and you do suffer an accident, then it could be worth getting in touch with your insurer to see if you are covered.

In the UK, the home insurance companies make substantial profits each year all because a significant number of existing customers just go with the renewal quote from their home insurance provider.

Most people naturally, but often mistakenly, assume that because their first years’ premium was competitive they will continue to be getting the best deal. Wrong! It is because people are loathe to change that people get charged 5%,10%,20% more than the market price.

In reality it is existing customers that can end up paying for discounts your insurance company offers to attract new customers.

The benefit of the new company discounts is that they want to secure new business – not just your premiums, but the contact details. If you become their home insurance customer, they can offer you additional discounts for things like car insurance, travel insurance and even pet insurance. This can also save you further money,

incidentally.

Each year therefore it pays to shop around to see the best deals available. On websites you can compare new customer discounts such as on Home Contents Insurance UK and on Compare Home Insurance where the latest discounts are listed and can be compared.

Once you have the competitive quotes, you can either simply go with the best of the new quotes (so you can come back to your old insurer next year) or actually challenge the old company to beat the price.

But then, hey, isn’t it simply worth just making the change?

Buying insurance can be a tricky subject, over insure and you risk paying too much in premiums, while under insuring can also be a disaster should the worst come to the worst. So how do you know what is just right?

Obviously the most important tip when it comes to deciding on the amount of cover you need is to take your time and go through your home valuing your belongings. Along with this you can follow the tips outlined below to give you some idea of how much you might need.

Never go rushing and guessing the value of your possessions, you could be surprised how far out of range you are by making a guess. Take a notepad and walk around your home writing down the cost of everything. And by ‘everything’ I really mean everything, from CD’s to clothing to furnishing to your pet cat’s wicker basket!

Once this is done, you can make an educated decision as to how much contents insurance you need.

Also, do bear in mind that if you buy additional items you should always take these into account when it comes to renewing your home insurance. As an example, even just buying two CD’s and a DVD every month can soon mount up to well over an extra £350 a year – a value that should be included in your contents.

Make sure that you understand what the insurer means when they use the term “valuable”. If your policy states that you won’t be covered for items worth more than £1,000 and you haven’t declared a possession that is over that amount, then it simply won’t be covered.

If your policy is new for old then this means that you will get the cost of replacing items with new ones. You should always take into account the rise in cost of items every few years’.

Many policies you take out will include items such as patio furniture and garden equipment so always ensure that if these are covered by your policy, then include them in your evaluation.

Take into account any items which may be difficult to put a value to. For example, you might have a large collection of books or CD`s which you need to cover. If this is the case, then make sure these are noted and that a price has been agreed upon by the insurance company.

If you work from home the majority of policies will cover such items as computers or fax machines, so include these in your estimate if they are covered by your policy. You should also enquire as to the limit of such equipment as most policies will have a limit for items such as these.

When you have legal protection included in your policy, this typically gives you a free helpline or adviceline to ring if you need legal help. Companies that offer this don’t usually restrict your options to simply be about the home insurance policy, they can be about any legal issue that you are facing as a private householder.Costs incurred by pursuing your claims or for matters that are covered by the insurance company are thereby covered (subject to detailed conditions in the policy wording, of course).

The solicitor and court fees may be subject to a limitation, for sure, but typically these limits will be very high and you will not typically encounter things that reach these limits in the course of a normal insurance policy term.Things covered can be personal injury, property protection, legal defence, employment disputes, motoring prosecution and even salary or wages that cannot be claimed as a result of having to do jury service!

There are quite a few exceptions to many policies – divorce and matrimonial disputes will not be entertained by insurance companies, anything to do with the policy itself (!) and intra-policy disputes (ie legal action against someone covered by the same policy). There are usually clauses which are to do with agreeing to arbitration, appointment of solicitors and thatdisclosure of information must be made to the insurance company to properly protect your interests. As is often the case with home contents insurance policies, it pays to check the wording carefully.

So it can be seen from all of the above, getting cheap Home Contents Insurance can cover a lot of extra things as well as the basics through legalparts of your policy.

(We used Direct Line Home Contents Insurance as a reference for the above text, but other policies can be very similar.

Now is the time for the two of you to create an actual home inventory, not a guesstimate, of all the personal property in the apartment you’d like to insure against damage or loss. Even though you aren’t married yet, some states and insurers will allow you to obtain apartment renters’ insurance togetherone policy, both of your nameswhile others will make each of you get your own policy.

“Most renters are underinsured by 50 percent,” says Steve, a veteran property and casualty agent for State Farm in Austin, Texas, who asked that his last name be withheld. “They don’t adequately know the replacement value [of their property].” Steve also feels that it’s in a domestic partner’s best interest to have a separate policy until the marriage is official. “That’s where the problems start,” he said, referring to the possibility of a joint check from the insurance company for property that belonged to only one partner.

To create a home inventory, which will help you decide how much home contents insurance you need and make filing a claim easier, add up the cost of everything you would want to replace if it were damaged or stolen. Record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in a safe place away from your home.

Bear in mind that most renters’ insurance policies have standard coverage limits, i.e., a $2,000 total limit on jewelry that is stolen. Be sure to review these limits and, for expensive jewelry and other valuables you may want to consider buying a “floater.” These additions to your policy provide higher limits and broader coverage. “They’re for things that were not thought of before the basic policy was written,” explains Steve.

As for home owners, it isn’t difficult for unmarried couples to buy homeowner’s insurance together at the same rates offered to the married, as long as both partners own the house. If the title to the property bears only one name, the personal property of the other will not be automatically covered by the policy. The non-owner can perhaps be added as an occupantcheck with your insurer about thisor may need to get separate renter’s insurance.

Finally, if you or your mate work out of your home, you may need a special policy to cover expensive equipment, not to mention extra liability coverage if you receive clients in your home. Just one more thing to think about as you merge households and begin to acquire property of real as well as symbolic value.

Home contents insurance is a must for anyone seeking to protect their home from fire, theft, maybe flood or earthquakes – and when these problems happen the insurance company

will be able to pay for the cost of the “disasters”.

Of course, it’s not as simple as this and the insurance cost (for which you will get a policy document with appropriate terms and conditions) can vary enormously depending on the size of your house, whether you live in a flood plain, how old your house is, the history of claims in the neighbourhood and a number of other factors.

That said, it is possible to shop around and get varying deals on home contents insurance. Keeping tabs on which are the latest and greatest deals is a challenge but it is one that a few websites have started to do. Home Contents Insurance UK is one such site and lists a good number of the benefits and deals available to policy-seekers.

Online policies can usually be obtained for a significant discount, whether it is 5% or 30% (yes they can be a significant as that) because the insurance company does not have to employ someone to read and interpret a form, or answer the phone. Rather, they can use the basic information about rooms and contents to determine the cost of your policy. This is termed the ‘premium’ which you can pay monthly or yearly – typically people pay by the year on an annual basis. This does mean you get a good period towards the end of your year to shop around for a good policy in future years.

1 – Increase your excess if you will only be claiming for big amounts. It can be increased – this is, to the insurance company, a direct saving for them off the bottom line. Take care to see what effect this may have on the policy price, but in general raising the excess to £250 or £500 could save significant sums from your premiums. This will be a small price to pay if you have a big claim, but if you are sure that you don’t need to make lots of little claims, this is undoubtedly a thing worth doing to reduce your home insurance costs.

2 – Ask the insurance company what you can do to reduce your premiums. They will be very happy to tell you the kinds of measures that will end up turning the policy into a smaller financial burden. For example, security locks on windows, deadlock bolts, fire alarm systems, smoke detectors are all small things that could be added to reduce your likely premium when it comes to renew your home insurance policy.

3 – check that the policy works for you – don’t buy a policy that has great cover for, let’s say, jewellry if you don’t actually possess anything which costs a reasonable amount of money.

4 – watch out for questions that insurers ask. Swimming pools and trampolines may increase your risk as far as the insurance company are concerned, so whilst you need to tell the truth on the application (otherwise you won’t be able to make a successful claim anyway) you might need to shop around at one of the online deal compare sites (such as Home Contents Insurance ) to see whether there are any restrictions.

5 – Shop Around ! If you have been with the same company for many years, it is very likely that you are paying too much for your home insurance. Look at the introductory discounts available (currently, Tesco Home Insurance are offering 50% off to new customers – but there are always deals available if you shop around and there are good sites out there such as Home Contents Insurance that will guide you in the right direction.

It’s never too late to save money with your home insurance policy…. and enjoy the savings all year long!

The way to be sure you’ve got sufficient home contents insurance is to make a detailed inventory and keep it updated. Start by going through your home and making a list of your jewelry, clothes, fine art, collectibles and home electronicsanything not considered a permanent part of your home’s structure. Note from where you bought each item and its make and model, if applicable. Copy the serial numbers of major appliances and electronic equipment. Take photos of and/or videotape the items, too. Then, at the Insurance Information Institute’s Know Your Stuff website (www.knowyourstuff.org/) you can download software to make an easy-to-use home inventory. Hopefully, you’ve saved your receipts or credit card statements showing what you paid for these items, when they were purchased, etc. or can come up with an estimate of their value.

Once you’ve created the inventory and stored it in a safe deposit box or secure location, get in touch with your insurance agent if your possessions are worth more than the dollar amount listed on your homeowners insurance or apartment renter’s insurance policy. It’s simple to increase your coverage. Items such as jewelry, art, guns and collectibles, which may become more valuable the longer you own them, may need to be insured separately.

While you’re on the phone with your agent, confirm that you are insured for the “replacement” rather than “actual” cost of your property. The difference is important when you need to make a claim. A five-year-old big-screen TV is not worth enough, due to depreciation, to cover the cost of going out and getting a new one of equal value.

“I always go through an estimated inventory with replacement cost in mind when I talk to new clients,” said a licensed property and casualty agent of 15 years with State Farm Insurance, who asked to remain anonymous. He said he tries never to sell “actual cash value” renter’s insurance policies, though “it’s ultimately the buyer’s responsibility to know what they’re getting.” Not all companies offer “replacement cost” coverage. If it’s important to you, it may be time to switch insurers.

It’s also very helpful to know if the credit card you used to purchase an item comes with any kind of automatic warranty against damage or loss. By the same token, some retailers offer extended warranties on their merchandise at the time of purchase. Check to see what you have and what it covers. You may not need to adjust your home insurance policy if your property is covered elsewhere.

When adding a home theater to your inventory of personal property, don’t forget to include all of the items that make it more than just a TV, such as a cabinet for the media players, furniture, and all cables, remote controls, surge protectors and speakers.

You have worked hard since your graduation day for all of the belongings that you have amassed over the years. In fact, if you are like most people, you probably have more items in your home than you know what to do with – but they are good belongings that you really could not live without when you think about it. Because you know how valuable all of your possessions are, you have decided to get home owner insurance, as it seems like the best way to make sure that you can replace your items should they be damaged or destroyed or stolen. However, you may not have realized that your home insurance policy may not actually cover all of your items. If you want to be sure that your belongings are safe and sound, you may need extra home contents insurance.

Unlike traditional home insurance, home contents insurance is designed to protect your belongings and only your belongings. Most, if not all, policies will not cover you should something happen to your home, or should someone be injured on your property. Instead, this type of insurance only keeps your favorite items safe and sound, and should something happen to them; the insurance company will reimburse you for their value depending on the type of insurance you purchase.

But what if you do not currently own a home? What if you are renting out an apartment, but you still have quite a few valuable items that you do not want anything to happen to? You can still invest in home contents insurance, and it is really an excellent idea to do so, especially if you are living with roommates. Even if your residence is something as tiny as a dormitory room in your college or university, it makes sense to insure your belongings, as you just never know when something could happen to them – either as a result of an accident or a purposeful theft.

So, no matter what your current housing situation looks like, you should still take some time out of your hectic schedule to consider investing in some home contents insurance. After all, nobody likes to lose all of the items that they have accumulated over the years, even if you are a college student who has not had enough money to purchase major items, you still stand at a risk to lose such high priced products as your computer, your television, and any expensive clothes or video game consoles you may own.

Home and contents insurance can be a lot cheaper when bought online. This means that you can have peace of mind for a lot less than your policy is costing you now. If you took out a policy from the high street lender as opposed to shopping around then you should go online with a specialist and allow them to gather quotes for you.

The majority of people do take a policy from the high street lender. The main reason for doing so is that they believe that home insurance has to be taken from the mortgage lender or they might not get the mortgage. This is closely followed by apathy – the fact that many people feel that they haven’t got the time to shop around and believe the price of cover does not vary that much.

Those who have a home and contents insurance policy at the moment should also be aware than they might need more cover than they currently have. With the Christmas period over and expensive gifts having been exchanged many could find themselves under insured. While the majority of policies will be lenient and offer extra cover on the run up to the holiday period when you have gifts in the house, after Christmas this is dropped off. This means that you need to take an inventory again and check to make sure you are still insured for the correct amount. If you do this get a fresh quote with a broker, never be tempted to up the amount with your current provider.

The terms and conditions of any policy are a vital part of the cover and this needs to be checked along with the premiums. This is the part of the policy which will tell you what is and is not covered. It will also tell you how much the premium will cost in total and give vital information regarding the insurance. The terms and conditions of a policy can vary greatly so never assume that they will be the same. Just as the premiums for the cover will vary remember that the conditions will too. If you have any expensive jewellery, home office equipment or collections then these might not be included in with your basic cover.

When making an inventory of your possessions with a view to taking out home and contents insurance do not forget about the little things. While the big items such as TV, sofa and such items will jump out it is important not to forget the items that are hidden from view. Take into account the clothes in the wardrobe and items in the kitchen cupboards, they might only be small items but it can be surprising how much they can add up to.

Home and contents insurance taken out online is always the best way to take out cover. A broker however can find you the right policy in the shortest time possible which saves you effort. You can also be sure you have the key facts which must be compared if you are to get the cover you need.