How to calculate home contents value

When you take out contents insurance you will be asked how much cover you need or what the value of your contents are. As a rule of thumb, anything you would take with you if you moved house should be covered by contents insurance.

How much contents insurance do I need?

When calculating your contents cover you need to consider the total value of the possessions in your home and what it would cost to replace all these items if they were stolen, damaged or destroyed, for example, in a fire.

Things to include when calculating the value for home contents

When calculating the value of items for home contents insurance, you should include some of the following items: furniture, clothing, jewellery, carpets, kitchen equipment, furnishings, electrical goods, and items in your garage or shed such as bikes and garden equipment.

The easiest way to make sure everything in your home is covered, is to make a list of all your belongings and go room by room to ensure you have accounted for all items.

With Zurich home insurance you can protect your home building and your belongings with our combined buildings and contents insurance policy. This comprehensive home and contents insurance, covers both your buildings and contents, where both are selected as part of your policy.

Likewise, if you are a tenant looking for renters insurance, we provide cover with great benefits so that your personal possessions are protected against loss, theft or damage. Our home insurance covers your personal possessions when "rented" is selected as part of your policy.

How to correctly calculate the value of home contents insurance 

There are a few simple things you can do in order to correctly calculate the value of home contents insurance required.

1. Make a list of all your contents room by room.

2. Get valuations on all high value items such as jewellery and electrical equipment.

3. You should insure your contents at the estimated prices if you had to buy new, rather than the prices you paid for these items.

4. If you are calculating the value of older items, remember to deduct for wear and tear for items that are a few years old.

5. Get a total estimated figure by adding up all the items together.

Contents only cover

Although it may seem like a daunting task, calculating the full value of your contents is very worthwhile in the long run. It’s important to get an accurate idea of how much everything is worth, and an easy way to work out the value of your contents is to go room by room and add up how much each item is valued at. Another handy tip is to keep receipts and photographs of high valuable items.

Contents insurance is not just protection against burglary; it also covers your possessions if you had to replace them all due to a fire or flood. That is why the figure you calculate should represent the total value of the possessions in your home and why it is vitally important to get an accurate level of cover.