When many homeowners apply for house insurance, they only do so with the building and property in mind. Don’t forget about the actual belongings. Your furniture, appliances, jewelry, clothing, antique items, etc. can be destroyed in a natural disaster. The cost of all of these items really adds up. What if someone breaks into your house and steals expensive items? This is always a possibility – especially in areas with high crime rates. The best thing you can do is insure all of your valuable items with house contents insurance.
What exactly does it cover? Home contents insurance covers literally everything within your house that is not part of the house itself, such as furniture, electronics, curtains, food, clothing, seasonal decorations, jewelry, appliances, and so forth. If you have other buildings on your property, such as a garage or storage shed, the contents inside of those should be covered as well.
However, this type of insurance usually doesn’t cover certain possessions if they are lost from outside a certain range of your home, or damages that you yourself cause during renovation or repair. Check and see if there are any exceptions in a policy before agreeing to it. This way, you will know exactly what is and what is not covered. The coverage options, rate, add-ons / exclusions vary according to the company.
House Contents Insurance Policy Bundles
You might be able to get a discount if you bundle up policies. For instance, if you get building insurance, house insurance, and contents insurance all from the same company, you’ll likely be able to save a lot of money. Some companies offer “extra coverage”, which includes perks such as zero deductible on certain items, coverage against accidental physical damage or accidental loss, etc. This extra coverage is not included in the base policy.
However, only your own personal items are covered under “extra coverage” deals (or renters / homeowners insurance in general). You cannot schedule any type of personal property coverage for items that you use in your business.
Some insurers offer different levels of coverage under a contents policy. Typically, the least costly option gives the bare minimum of coverage and includes a “defined events” policy, under which your belongings are only covered if they are lost or damaged under specific events.
Just as you would not trust just any company with other types of insurance, you should be very careful with your choice of a house contents insurance provider. One company you’ll definitely want to consider is Lemonade. This company pays out claims very quickly, and if there is any money that is leftover, it will actually give it back to causes. Lemonade discounts on insurance are definitely among the best.