Contents insurance (2024)

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The average annual cost of contents insurance is £69^*. But keep in mind, the cost of your cover is likely to increase if you make a claim. How much you pay will vary depending on a range of factors, including:

• The amount of cover you need
• Where you live
• Any security devices your home has
• The amount of excess you agree to pay
• Whether you pay annually or monthly
• The total value of your possessions
• If you want to insure any high-value items
• The type of home you live in and whether you rent or own
• Who you live with
• Your claims history

There are 2 types of contents insurance. They're new-for-old and current value.

• New-for-old cover

Gives you a brand new replacement for your damaged items. Replacing your old belongings with new ones.

• Current value or indemnity insurance

Pays out what your items are likely to be worth now. This means you'd get back less money than you originally paid for the item. So, it might not be enough to cover the full cost of replacing it.

Paying excess

If you need to make a claim, you'll most likely need to pay an excess. This can be a compulsory or voluntary contribution towards the claim. The amount you pay for compulsory excess is decided by the insurance provider. For voluntary excess, you choose how much you pay towards the claim.

For example, say the compulsory excess is £100. And, your chosen voluntary excess is £100. You wouldn't be covered for the first £200 of any claim. Make sure before buying a policy that the excess amount is affordable. You need to be able to pay it if you ever need to make a claim.

No claims discount

If you've never claimed on your contents insurance before or it's been a while since your last claim, you might get a no claims discount.

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Your standard home insurance policy might not provide enough cover for high value items such as laptops, televisions and bikes if they're lost, stolen or damaged.

A single-item limit is the maximum amount you can claim per item on your contents insurance policy. The limit is usually around £1,000, but it can vary, so it's recommended that you double-check your policy.

If you own high value items, you may not be fully covered if any of them are over the single-item limit. If they are over the limit, you'll need to list them separately on your policy. If you don't, you can only claim up to the value of the single item limit.

When you get a quote, you may also be able to get items that are worth over £1,000 covered for being outside the home. But how comprehensive this cover is will vary among insurers.

High value contents insurance is designed to protect your expensive belongings. Generally, this specialist insurance is for items that are worth more than £1,000. You may want to consider buying high value contents insurance for things like:

• Jewellery
• Engagement and wedding rings
• Watches

It might be a good idea to consider getting specialist insurance to protect high value items when outside your home. If you do, check the policy for details on how much cover you have and for what.

You don't have to have contents insurance, but it's a good idea to have some protection in place. It could be useful for anyone who's responsible for the contents of a house, including:

Renters

Your landlord is responsible for your home. But, it's up to you to insure your personal belongings. You can do this with tenants or renterscontents insurance.

Homeowners

Buildings insurance will protect your home's structure. But, if you want to protect the belongings inside your home, you'll still need contents insurance. You might save money by combining contents and buildings insurance, instead of buying 2 separate policies.

Tenants (shared house and HMO)

If you live in a shared houseor a house in multiple occupation (HMO), you may want to only insure the things that are in your room. Without having to cover your flatmates' belongings and things kept in communal areas.

Students

Whether you live in university halls or in private student accommodation. Student contents insurancecan protect your things while you're at university.

Lodgers

There's no specific lodger insurancepolicy. However, having a lodger is likely to increase how much you pay for your insurance. This is because insurance costs are based on risk. And giving another person access to your home increases that risk.

Landlords

Landlords contents insurance covers all furniture and possessions that belong to you. This is useful if you're renting out a furnished or part-furnished property. If your property is unfurnished, your tenants should arrange their own contents cover.

Holiday home owners

If you own a holiday home, you may need specialist holiday home contents insurance. Unlike residential homes, holiday homes face different risks. This is because they usually stand empty for long periods.

Get a home quote

To get a contents insurance quote you'll need to answer a few questions, it's worth having the following information to hand:

• Property details. Such as information about when your house was built, property type and number of rooms.

• The types of lock you have on external doors. Not sure which ones you have? Don't worry when you get a quote, we'll show you descriptions and images of different locks.

• Details of any previous claims. Check your renewal documents for information on prior claims in the last five years. If you're unsure, contact your current insurer.

• The total value of your contents you want to insure. As a rough guide the average contents amount is £51,000*. Our contents calculatorcan help you work this out.

• Details of any high-value items worth over £1,000 you want to cover. This includes engagement rings, expensive tech, or bikes.

*Based on Confused.com data, April - June 2024.

Consider paying a voluntary excess

A £250 voluntary excess could reduce your price by about 22%*. This is compared to a policy with no voluntary excess. You'll pay this amount along with the compulsory excess set by your insurer for any home insurance claim you make.

Only get the cover you need

Optional extras come at a cost. Look for an insurance policy that offers the cover you need at a good price. Do this before choosing add-ons.

Consider paying annually

Paying for your insurance in monthly instalments can cost up to 14%* more due to interest charges. If you can afford to pay for your policy in one go, it can help to lower your costs.

Be accurate with your contents value

Don't over insure. Overestimating the value of your contents and going up in bands can increase the amount you pay. But if you're unsure how much insurance you'll need, use our contents insurance calculator.

Don't auto-renew

Not automatically renewing your existing policy gives you a chance to see whether you can find a better price. You might be able to find the same amount of cover at a cheaper price by shopping around and comparing policies.

Make sure locks meet BSI standards

Making sure your door locks meet British Standards Institution (BSI) standards, will help to keep your things more secure and lower the risk of theft.

Combine cover

If you have a buildings policy always combine it with contents insurance. This can save you on average £37*, compared to purchasing 2 separate policies.

*Based on Confused.com data, April - June 2024.

Home emergency cover

Home emergency cover can pay for unexpected incidents. This includes urgent repairs for things such as burst pipes, blocked drains, or electrical faults. To fully protect your boiler, you may need a standalone boiler insurance policy.

Legal expenses cover

Legal expenses cover, also known as family protection cover, helps pay for legal fees. It usually covers personal injury claims, employment disputes, property disagreements, and issues with goods and services. Some policies include this as standard, or you can choose to buy this as an add-on to your home insurance.

Personal possessions cover

Personal possessions insurance covers your valuables against loss and theft when you're away from home. It includes items that you typically take out of the house, such as jewellery, watches, handbags, and phones. It usually covers items worth less than £1,000.

Accidental damage insurance

Accidental damage insurance covers non-deliberate damage that happens suddenly and unexpectedly. This includes accidentally dropping something fragile or spilling something on your carpet.

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