What is Home Contents Insurance?

Home Contents Insurance, not to be confused with Buildings Insurance, which protects the structure of your house along with any permanent fixtures and fittings,  covers items within your property against fire, theft, and accidental damage.

Available to purchase in combination with buildings insurance, or as standalone policy, contents insurance is essential for business owners, homeowners, and even tenants, but surprisingly, many Irish homeowners underestimate the value of their personal possessions when taking out this type of cover, while others have no contents insurance at all.

Contents insurance in not compulsory in Ireland, but for peace of mind, you should insure the contents of your home for what it is worth. By worth, we mean what it would cost you to replace every item you own if it were all to be gone tomorrow.

What is Covered Under Home Contents Insurance?

While no two home contents insurance policies are the same, most protect against fire, flooding, theft, and in some instances, accidental damage. This type of cover protects all your personal belongings, basically everything you own from the floorboards up, such as:

• Carpets and Rugs
• Furniture: Sofas, Beds, Wardrobes, Dining Tables, Chairs, Chest of Drawers etc.
• Electrical Goods: Fridges, Freezers, Washing Machines, TVs, Games Consoles, Music Systems etc.
• Soft Furnishings: Bathroom Linens, Curtains, Cushions, Bedding etc.
• Kitchenware: Pots, Pans, Crockery, Cutlery, Kitchen Electrical Goods etc.
• Ornaments & Accessories: Wall Art, Mirrors, Picture Frames, Artwork, Decorative Items etc.
• Children’s Toys
• Books & Reading Materials
• Clothes Including Bags, Shoes, Coats, Gloves, Hats, Scarves, Sunglasses etc.
• High Value Items: Jewellery, Antiques, Collectables etc.

The list is extensive, and once you have completed yours you may be surprised at just how much your home contents is worth, but to put it in to some kind of perspective, the average home contents insurance value in Ireland is €40,000 – €50,000 Euros.

One of the easiest ways to compile a list for your contents insurance quotation is to work from room to room. It may take a while, and you’ll probably find things you forgot you even had, but once it’s done you’ll have peace of mind knowing that if anything unforeseen does happen, you are fully covered.

Home Contents Insurance: The Different Levels of Cover

As with all types of home insurance, there are different levels of cover when it comes to contents insurance. The most basic policies will cover your personal belongings against fire, flood, and theft, but it is possible to upgrade you plan to include things such as accidental damage (dropping your Smartphone, for example), bicycle insurance, and even extra cover over the festive period to cover Christmas present theft.

Most home contents insurance polices are subject to a ‘wear and tear’ clause, meaning that you may not get a full pay out on older or used items. One way to avoid this is by taking out New for Old Contents Insurance. With this type of policy, you’ll receive the full cost of replacing any item that cannot be repaired, with no deduction for wear and tear.

For further advice on contents insurance, speak to your local insurance broker. Paying a little extra could cover a whole lot more.