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Letter C
Contents insurance
The insurance for the items within your home i.e. furniture, clothing, personal
possessions etc. as distinct from the buildings insurance.
Whilst lenders will be keen to offer contents insurance to borrowers and
therefore may put you off, it is not essential that you do still have it. Cover
is normally provided for insurance against fire, a full range of perils (e.g.
water damage) and theft. Some policies offer a wider, all-risks wording.
Contents insurance normally covers items within the home, although a lot extend
to include small amounts of cover outside the home, possibly upon payment of an
additional premium such as jewellery and money etc..
In addition you can included additional benefits such as accidental damage this
can mean if someone spills paint over the carpet or a drink over the video then
these items will be replaced under the insurance, however you should check your
policy excess as this can sometimes outweigh the retail price of the item and
make it not cost effective to make a claim.
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