How to work out the value of my contents for insurance
When you buy contents insurance, you will need to submit a figure to replace your contents.
Most contents insurance policies replace your contents new for old (ie the insurer will replace all items at the current value). Make sure when working out the value of your contents that each year you look up what it would cost to replace your contents.
Don’t forget to insure those valuable items separately within the policy (ie laptop/computer/bikes/watches etc).
*A good tip is to have an up to date list of your contents already prepared if you suffer damage. This will make the process easier if you need to make a claim.
How do you determine the value of your house contents?
You need to calculate the value of your contents yourself by following our guide below.
Follow our Guide:
- Go online and look up what each item in your property would cost to replace now.
- Generate a spreadsheet with three columns. List the product item in the first box, the replacement cost in the second box and a direct link to the item in the third. Continue to do this until you have listed all the items in your property.
- Add up all the amounts and submit this figure to your insurer when getting a quote or renewing.
- Take photographs of all the rooms in your house that show your contents. This will help you claim a later date if you no longer have receipts, you can use this as evidence that they were in your property. Keep the photographs in a folder on your desktop to use at a later date if you need to.
- Keep a folder in a safe place with all the paper receipts/email receipts of your home contents. Whenever you buy anything new, place the paper receipt in this folder. If you don’t want to keep the physical paper receipts, scan them onto your computer and place them in a folder on your desktop along with your email receipts.
- If you do not have any receipts, make sure you keep a copy of the operations manual or any documentation you may have. For ease, you could scan a copy of each document and keep it in a folder on your computer desktop. This will save a lot of time if you ever need to make a claim.
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Here is a handy list you can use to give you an idea of what you need to insure:
Lounge/Dining Room
| Sofa | £ |
| Coffee table/side tables/lamps/light fittings | £ |
| TVs/DVD Player/Satellite/Cable | £ |
| DVDs/CD’s/Game Consoles | £ |
| Books | £ |
| Carpet/Blinds/Curtains | £ |
| Soft furnishings | £ |
| Ornaments/Photographs/Pictures | £ |
| Table and chairs and other furniture | £ |
| Laptop/Computer | £ |
| Total | £ |
Kitchen
| White goods (fridge/freezer/washing machine/tumble dryer) | £ |
| Cooker/Microwave/Toaster/Blender | £ |
| Utensils | £ |
| Pots and pans | £ |
| Crocker/Cutlery/glassware | £ |
| Light fittings | £ |
| Total | £ |
Bedrooms
| Beds and bedding | £ |
| Furniture | £ |
| Carpet/Blinds/Curtains | £ |
| Clothing and footwear | £ |
| Jewellery/watches | £ |
| TVs/DVD Player/Satellite/Cable | £ |
| DVDs/CD’s/Game Consoles | £ |
| Books/Toys | £ |
| Light fittings/lamps | £ |
| Laptop/computer | £ |
| Total | £ |
Bathrooms
| Cupboards/mirrors/shelves/rails/laundry basket | £ |
| Towels and soft furnishings | £ |
| Electrical equipment/light fittings | £ |
| Total | £ |
Garage/outhouse/shed
| Exercise equipment | £ |
| Gardening equipment/tools | £ |
| Garden furniture | £ |
| Outdoor toys | £ |
| Tents/camping equipment | £ |
| Total | £ |
| Grand total | £ |
Find our Insurance how-to guides:
Loss or escape of water |
Vehicle/Car Accident |
Burglary |
Fire |
Storm Damage |
Tree Subsidence/Subsidence |
