Home Contents Insurance explained and how we might be able to help!
Home Contents Insurance is designed to cover your personal belongings and household possessions in the event of loss or damage.
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Here we provide an explanation of Home Contents Insurance, and offer a step by step guide to help you in making the right choices when it comes to insuring the contents of your home.
Table of Contents:
What is home contents insurance, and what does it cover?
Home Contents Insurance is an insurance available to cover your personal property and household items in the event of loss or damage, such as a fire or flood for example. This cover will usually include clothing, furniture, electrical equipment, furnishings, and some valuables and a certain amount of cash.
Unlike the other home insurance to cover your buildings, Contents Insurance is not mandatory. Contents cover is usually extended to protecting your possessions and those of your close family members, but not those of friends, unless they are included in your policy.
Optional extras for Home Contents Insurance
Your Home Contents Insurance policy will usually include damage to your possessions caused by theft, fire, flood, and storm. However, accidental damage or loss to household items is usually available at an extra cost.
In addition to Accidental Damage Cover, other cover level options that are usually available include All Risks Cover, which protects personal possessions taken out of the home. An upper limit would normally be applied on the value of any single item.
A further option is for valuable items, for example expensive items of jewellery having a replacement cost of £1500 or more, would usually be insured separately on a specified items basis. The Insurer may also insist on other conditions such as a safe or burglar alarm being installed.
Making the right choices
The first thing you must do is decide how much cover you will need. To do this you will have to calculate the cost of replacing all your possessions, and probably the best way is to check each room in your home. The results can be quite staggering! For example, most lounges will have the following contents: television, DVD recorder/player, hi-fi, carpets, curtains, three-piece suite, table, chair, books, CD's, DVD's, ornaments, cupboards and their contents!
It is also important that you are aware of:
- the overall policy terms and conditions, and more specifically
- what the policy covers, and the limitations and exclusions that are contained within it (such as risks that may be specifically excluded such as normal "wear and tear")
- the monthly premium
- any policy excesses (for example, if you have to pay the first £50 of any claim)
- discounts
- no claims bonuses
- any additional conditions (for example the requirement to have 5-lever mortice locks fitted on all external doors).
Can Shire Direct help me with my Home Contents Insurance?
As part of our factfinding procedures a qualified Shire Direct advisor will examine your insurance demands and needs, and provide you with details of the options available to you.
So, why not give us a call to discuss your Home Contents Insurance requirements. We're available seven days a week from 8am until 10pm on Freephone 08000 282 281, or contact us online. We assure you of a friendly and unstuffy personal and professional service, whatever your requirements. We feel we have the expertise and resources to come up with just the right solution for you!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
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Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.