How much should I insure my buildings for?
Your buildings should be insured for its reinstatement value, including the cost of professional fees and site clearance.
How much should I be insuring my contents for?
Your contents should be based on the cost of replacing the contents ‘as new’at today's prices, and should cover everything that you would take with you if you moved house. The contents should cover all items within the home and domestic outbuildings. If cover is needed for items away from the home e.g. jewellery, All Risks cover must be selected. Refer to the All Risks Cover section of the Household Policy document for full details and the section on what is “All Risks” cover below.
What happens if I underinsure my home?
The Average Clause applies to our household policies. This means that if the sum insured at the time of the loss is less than the insurable value of the buildings or contents the amount claimed under the policy may be reduced in proportion to the underinsurance.