Contents insurance generally covers most of the things that are included as your personal possessions, things which you would take with you if you change your home like furniture, personal belongings and furnishings.
You insure your valuables for what is needed to replace them with new ones and not the second hand value of the things.
What exactly does it cover? Household contents insurance is also known as home contents insurance.
It covers all the possessions that belong to you and your family members who stay with you.
This refers to all things belonging to any of the family members staying with you.
But this won't include anything that belong to any friend of yours staying with you unless his / her name is included in the policy.
There is no compulsion for you to opt for such an insurance but it is generally advised to have one cheap contents insurance policy for your home.
Any such good insurance policy would cover your possessions from damage or loss caused by flooding, fire, storm damage and theft.
Any kind of accidental damage or loss to household things is not included in the insurance policy.
But, this won't include fixed glass and mirrors in television or furniture.
You can always include accidental loss in your policy but you need to pay some extra amount for that.
Most of the cheap contents insurance policies provide you 'new for old' cover.
This means that you will be getting full cost of replacing an old item with a new one.
But this won't include bedding and clothing.
Household insurance also provides a huge amount if you or your spouse dies in any accident like fire in the house, theft or any other accident at home.
What is not included? -It does not cover any damage done to your household items if there is no occupation at your home for more than 60 consecutive days.
Any kind of damage by theft, vandalism or any other malicious act is not included in it.
-If there is any kind of accidental damage done to portable items like hand held computer games or video cameras unless you have accidental damage coverage for it.
-Any kind of wear and tear of items.
-You may have to pay extra amount if you want to cover expensive items that are not usually covered in any cheap contents insurance policy.
Besides, you will have to agree to certain things like setting up of burglar alarms.
Once you have the detailed knowledge about what is covered and what is not covered, look for cheap contents insurance quotes.
Collect as many quotes as possible, compare the cheap contents insurance quotes and then decide on the one that suits your needs.