A home’s contents are often things we take for granted; we cook food in an oven then eat it off plates using knives and forks that we later put into a dishwasher. It’s only once all of these things are gone that we truly appreciate them. So you’ll want to insure all your contents so they can be replaced if a disaster strikes. But just how do you figure out how much they’re all worth? You’ve spent years buying this and that, and have probably been gifted dozens of things that you couldn’t possibly know how much they originally cost.
One option is to guesstimate, as often a home’s contents are worth roughly 40% of its total sum insured. This method may suit you if your home is stocked with contents that are largely just functional.
Another, more detailed option is to work out a more accurate figure by going through each room of your home and noting the value of each individual item. It’s a bit of work upfront but could save you plenty of heartache later.
Here at TOWER, we’ve come up with a middle ground to help look out for you.
We’ve partnered with an expert company to provide you with an online calculator to help make working out your contents sum insured easier. The calculator works by giving you a contents sum insured estimate based on the details you provide about your home and the people who live there. It’s a simple and easy to use calculator – there are only five-steps involved! Once it’s calculated your contents sum insured you can look through a room by room breakdown and make any edits to the items it’s included, as well as add any ‘special items’, such as an antique lounge set or a valuable engagement ring. Using the calculator should give you more confidence you have the right sum insured for your contents.
At TOWER we want to make sure the things you value are covered. Once you’ve sorted out the amount you want to insure your contents for, you can make a decision on which policy is right for you. Visit tower.co.nz for more information.