How to estimate the value of your home contents
One of the most important details when taking out home insurance is to calculate the value of the contents, that is, all the things we have at home. This will allow the insurer to compensate us in the event of a claim or theft.
A home insurance policy should include the value of the contents of the home, which includes furniture, household goods, valuables and jewellery. Calculating their value is easier than we think, as Sara Casals, junior product manager at 11Onze, explains.
The most advisable way to estimate the value of our belongings is to do it room by room, drawing up a list of all the goods and assigning a replacement value to each one of them, which is what it would cost us at the moment to buy the object on the market. We should bear in mind that the valuation of the contents will determine the price of the insurance, so it is not in our interest to value it above the real price, as this would increase the cost of the insurance.
Jewellery and valuable objects such as works of art have a special treatment and must be declared in their corresponding section. Furthermore, regarding this type of objects, “the level of cover that the insurer will offer us will be related to the security measures that we have in the home”, says Casals.
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