Contents insurance is crucial for homeowners and tenants alike as it provides protection for home contents such as furniture, clothing, electronics, and jewelry. Should an incident occur that damages or destroys the contents of your home, this insurance will ensure that you receive funding to help cover the cost of replacing these items. As experts in home insurance policies, the team at Mountainview Insurance knows how beneficial contents insurance is for every home. We also know how difficult it can be to determine the combined value of every item. That is why we have compiled a list of steps to help you understand how to calculate contents insurance and ensure that you have sufficient coverage.
To ensure that have enough coverage for your belongings, you will need to complete the following steps:
When it comes to contents insurance, most homeowners and tenants severely underestimate the value of the contents in their home. To get an accurate estimate of the value of your home’s contents, start by going from room to room and making a list of each item in it. Be sure to include items such as furniture, dishes, cookware, clothing, jewelry, electronics, appliances, bedding, tools, and books. When creating this list, be sure to highlight “high-value” items. While surveying each room and making a list of every item may take some time, it is the most effective method for obtaining an accurate estimate.
Once you have taken note of the items in your home, reference each high-value item highlighted on your list. These items typically consist of electronics, appliances, furniture, and jewelry, though other items can also be included. Once you have noted each high-value item, search online for comparable products. This will give you an accurate indication of the cost to replace each item, letting you know how much coverage you would need.
With the cost of high-value items accounted for, you will need to estimate the cost of the remaining items in your home. There are several online calculators that can be used to provide a rough estimate for items like clothing, books, tools, and bedding. With the cost of each item accounted for, it is time to add up the total value of your home’s contents. While the resulting number may not be a precise representation of the value of every item, it will tell you how much coverage you need to replace everything should a disaster or accident occur.
To learn more about our solutions for contents insurance or to inquire about our other insurance products, get in touch with the team at Mountainview Insurance. We can be reached through our online contact form and will be happy to answer any questions you may have regarding our products or your insurance needs.
We’re ready to understand your insurance needs and to work for you to get the coverage you need.