Home Content Insurance

Homeowner's Insurance
Get Affordable Homeowner Insurance. Covers Fire, Theft, and More

Compare Home Insurance
Get Quotes from Multiple Carriers. See How Much You Could Save Today!

Content Insurance
Free Online Insurance Quotes. Buy Your Policy Online in Minutes!

Protecting the Contents of Your Home

Home content insurance covers the repair or replacement of the contents of your home, plus additional benefits such as lock replacement, reimbursement for damages to lighting, mirrors and windows, and any temporary accommodation you may need in the case of total home damage. If you are in an area prone to natural disasters, these benefits could be very valuable, especially if you are displaced for a lengthy period of time. Figuring out how much of this insurance you need is done by taking an inventory of each room in your house. Although it is time-consuming, it is definitely well-spent in the event of an emergency or mass damage. Many personal and home finance programs such as Quicken, offer a section for logging inventory, photos and receipts of your belongings.

You can also purchase 'new for old' policies that will cover the cost of replacing your belongings with new ones. This could be a good option if you tend to have a lot of electronics or other high-end items that depreciate. Replacing them at retail cost would be expensive, but if you were only reimbursed at the resale value, you would pay a lot in out-of-pocket expenses.

Still need assistance determining a good amount of coverage? A fast and rough way to compile an estimate is to assume an average of $75,000 per person. For a family of four, that would total approximately $300,000 in coverage. You could add extra for any expensive items that stand out, such as heirlooms or collectibles. This is an average amount for a middle-class family with average belongings, so make adjustments where necessary. If your furniture is high-end, antique, or irreplaceable, this may not be enough in the event of a disaster. If you don't have time to individually catalog the rooms in your house, perhaps you should quickly go through and identify outstanding items that are expensive and add that cost to the average estimate. Some insurance companies may require a special "floater" or "endorsement" for jewelry, antiques, collectibles and other unique items. Make sure you are aware of your home policy regarding these types of items so you aren't limited in the amount that you will be reimbursed if these items are stolen or damaged.

If doing the rough estimate appeals to you, you can also consider using a video recorder to document each room in detail. This can be a 'receipt' that you can go through later. The estimation you made can then be used to determine the amount of coverage you need. Remember to film everything even if it seems unimportant at the time. Any equipment or vehicles that are kept in the garage count too. After you have made documented your belongings, make a copy and keep it in a secure area, preferably away from your home. The safest place is a safety deposit box at a bank or another house in a water and fire-proof container. Having additional copies can be a good back-up just in case. If you ever have to go through a claim process, this videotape will provide you with some valuable documentation of your loss.