Whether you are a first time buyer, you are renting a property, or you are simply moving into a new larger house with different requirements, contents insurance is an essential aspect of this. Students and young people in particular are at risk of burglaries, while damage through fire or other disasters is also a common problem.

You might not consider any of your items that valuable but added together it could work out being very expensive to replace these. Could you really afford to buy a new laptop or television overnight? Unlike buildings insurance, this is not a compulsory aspect of being a homeowner and we all tend to have an attitude of it won’t happen to us – but what if it does?

There are many different policies around so you should shop carefully for one which suits your requirements. For example an indemnity policy will reduce the payment made depending upon wear and tear over time, taking into account depreciation of any item be it a laptop or a washing machine. These can be cheaper overall, which may make them worth your while. The majority of policies are not like this and will just pay the value of an item when it was new.

Before you begin trying to get your cover, go through your rooms and work out how much your possessions are worth. Some insurers only look at the number of rooms you have so this may or may not be relevant. Another vital factor is negotiating a figure for any items which cost more than the policy will pay out for.