How To Contents Insurance

Why do I need contents insurance? What is covered? And what is not?

Article

5 minute read

2020-01-15

Why do I need contents insurance? What is covered? And what is not? We’re here to help and give you a better understanding of everything you need to know

Your guide to contents insurance

Getting insurance is something we recommend, but nobody really gets excited about it. But if you’re worried about it being complicated and hard to understand...

Don’t be.

We’ve put together all there is to know about our contents insurance to see how easy it is. Here’s what you’ll learn:

  • What is contents insurance and do you need it?
  • What kind of contents insurance does Getsafe offer?
  • What is covered by Getsafe’s contents insurance cover?
  • And what is not?
  • What is the insured sum and how can I determine it?
  • What is being underinsured and should you worry about it?
  • Is my family covered under my contents insurance?
  • What if my property is damaged accidentally?
  • What if something happens to my personal belongings outside of my home?
  • What do I have to do when I have a claim?
  • How much does it cost?

What is contents insurance?

If something happens to destroy or damage your possessions, it can cost a lot of money to replace them, some of which may be essential. Your contents insurance policy gives you peace of mind in case of the unexpected: it protects your belongings against damage caused by hazards such as fire, storm, water, burglary and covers the cost of replacing them.

With Getsafe, you can choose from five additional extensions to adjust your coverage to your individual needs: Personal Possessions, Accidental Damage, Legal Protection, Home Emergency, and Tenant Liability.

Do I really need contents insurance?

Every item in your home has both a personal but also financial value. If something happens to your belongings, replacement can be very expensive. The more valuable items you have, the more important it is to think about contents insurance. But: not every insurance policy suits everyone. When you think about contents insurance, you should read carefully what is and what is not covered and whether it really suits your needs.

To start with, you could simply list your belongings and estimate their value. You will probably be surprised how much you own. This will also be very helpful when you are thinking about your insured sum.

What kind of contents insurance is it?

The Getsafe contents insurance is a so-called ‘new for old’ policy. That means that we pay you out the full amount of money for a new replacement, and do not take into account the wear and tear on items that you claim.

What does the Getsafe contents insurance cover?

In general, the Getsafe contents insurance policy applies to your personal belongings, visitor’s possessions and your liability to other people. It covers your household goods and high risk items. Here are some examples of what is potentially covered:

  • computers
  • furniture
  • clothing, footwear and luggage
  • audio visual equipment
  • cameras and photographic equipment
  • sports equipment
  • cycles
  • art and collections
  • jewellery and watches
  • money

When you’re not sure about what is considered ‘contents’, you can think about what items you would take with you if you were moving. This should then be included in your contents insurance. Make sure to check the insurance policy in case you have any questions.

What is not covered by Getsafe’s contents insurance?

There are some items that are explicitly excluded by our contents insurance. Just download the Getsafe App from the App Store or Play Store and take a closer look at what’s not covered. To give you some examples, here are some items that are not included in contents insurance:

  • any vehicle licensed for road use or any other mechanically propelled vehicle, cycle or buggy
  • any caravan, trailer or horsebox
  • any watercraft, hovercraft, aircraft , drone or other aerial device
  • any building
  • any land or water
  • any animal or plant

What is the insured sum and how can I determine it?

The sum insured should equal the amount of money it would cost to replace all of your contents on a new for old basis. Take a look at our glossary to get to know more about the insured sum and how to choose it wisely.

When am I underinsured?

When considering your sum insured it is really important to list everything that you own and add up what it would cost to replace every item at today’s prices. You may be underinsured if you do not accurately value the cost of the contents of your home. This means that if you make a claim on your contents insurance, the payout you receive may not cover the replacement value of your items.

In practice this could mean that if your contents are only insured for a third of their actual value, then you may only receive a third of the value of your claim. In this example the value of your contents is £30,000 but you have declared they are only worth £10,000. You then make a claim for £3,000 but because of your failure to declare an accurate contents valuation, you might only receive £1,000 for the claim you have made. As per our policy wording:

“If the insurer would have provided this Policy but charged a higher premium, the insurer may reduce the amount payable for any claim or loss in the proportion that the premium you have paid bears to the premium the insurer would have charged if you had fairly presented the risk to the insurer.”

Is my family covered under my contents insurance?

Yes, your family is covered in your Getsafe contents insurance. The policy includes your partner and any of your relatives provided that they permanently live with you at your home.

What if my personal possessions are damaged accidentally?

This is what our Accidental Damage cover is designed for. It will cover the cost for replacing items if your belongings are damaged accidentally while in your home.

What if something happens to my personal belongings outside of my insured home?

This is where our Personal Possessions cover applies: it covers your contents when you’re outside your home. You can select the amount you want to be covered for when you are away from your home anywhere in the world, and this amount will be stated in your policy schedule.

What do I have to do when I have a claim?

With Getsafe you are well covered: You can file your claims instantly via our app and we’ll send you the money as soon as possible. Simply go to the Getsafe App and click on the “Service” button in the bottom navigation bar and then "File a claim". If you would like to speak to our claims team personally, you can call them during working hours. Check out our blog post about “How To File a Claim” and learn what you need to consider, and also how you can help us to process your claim as quickly as possible.

How much does contents insurance cost?

The costs of contents insurance are relatively low compared to the possible financial damages of your valuable belongings. With Getsafe, you do not only get a great value policy from £4.09 per month*, but also a great level of service.

Do you have any questions? Contact us. The Getsafe team will be happy to advise you. Send an email to [email protected].

Stay safe!

*Terms and Conditions apply

Author: Maxine