How much am I covered for?
How much you’re covered for will completely depend on the terms of your policy. That is why you need to shop around and ensure that you have got the right policy for you. Typical contents policies will cover individual items for a set amount and the limit can often be as low as £1,500. So you may find that anything that is worth more than this limit may need to be listed as an additional item on your insurance (which may then affect the price you pay).You should talk to your insurer about your requirements, as they may need a receipt or a valuation certificate if you ever need to claim for expensive jewellery.
You may also have to take out extra cover if you want to take your expensive belongings out in public. Again, check the wording on your policy as you might find different rules apply when you’re out and about. You may need to take out a personal possessions extension (which is sometimes referred to as an all risks extension).
Even if you’re not parading them in public, if you have a number of high value items then you might find your policy simply doesn’t cover them all. The initial quote might look good, but check the small print as you might find yourself paying more to cover all your possessions if the total limit on the policy is insufficient.