Heard of Contents Insurance but not sure what it is or how it might be relevant to you? Or whether you should have it? Let’s take a deeper look.
What does Contents Insurance mean?
A Contents Insurance policy is designed to cover things you might have in the home - from your clothes to your kitchenware, to your electronics.
Imagining tipping your home on its head. Everything that falls out that you own could be part of your contents. The things that stay in place are part of the building, this is often things like flooring or a built-in oven. To insure those, you would need a Buildings & Contents or Buildings-only Insurance policy. Buildings Insurance is something a landlord would take out and so it isn’t something you need to worry about – except perhaps asking if it’s in place!
The people who usually buy Contents Insurance are therefore those living in a property.
Do you need Contents Insurance?
Let’s get the legal stuff out of the way first: No, there’s no law saying you need to get Contents Insurance. So why get it? What does it cover you against?
With Contents Insurance your belongings can be covered against theft, water damage, and fire. Some policies, like those from our partner Urban Jungle, also include Tenant Liability cover (for accidental damage to your landlord’s property) and Accidental Damage as standard. So, the next time you spill coffee on your laptop? You’re covered.
If you’re out and about a lot, adding Out of Home Cover is also an option. In fact, you can also cover yourself for gardening equipment and even damage caused by pets!
Finally, if you decide to get Contents Insurance, you’ll want to make sure you’ve got the right level of cover for all your things.
How can I get a quote?
With cover starting from just £5/month, you can get a personalised quote or find out more by clicking here.
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If you want to improve your credit position by reporting your rent payments, CreditLadder is the only way to improve your credit score and position across all four of the main Credit Reference Agencies in the UK, namely Experian, Equifax, TransUnion and Crediva. Building up a high credit score has a lot of benefits, including helping you access finance at better rates - this can also help save you money.
CreditLadder also runs a free mortgage application service in partnership with Tembo which will tell you how much you could borrow.
Remember the information provided in this article is for information purposes only and should not be considered as advice.
