Yes, it will. Think about it – the more bedrooms you have, the more stuff you’re likely to have.
When you take out contents insurance for your home, you need to make sure that you insure your belongings for the right amount so they’re all protected. You can do this in three ways:
- total up the amount the contents of your home are worth – this is known as a sum-insured policy
- choose an unlimited sum-insured policy – where all your contents are covered and you don’t have to worry
- pick a policy where the insurance provider works out the contents cover based on the number of bedrooms you have, based on typical values – this is known as a bedroom-rated policy
The third type of policy is more convenient because there’s no need for you to take the time and effort to work out the exact amount that your household possessions are worth.
However, it’s based on average values, so if you have a lot of valuable items you should check that it will give you sufficient total cover. And even with this kind of policy, most insurance providers impose a single item limit – the maximum they will pay for an individual item – so you’ll need to tell your provider about any items worth more than that limit.
It’s also worth remembering that insurance providers will count as a bedroom any room used as, or originally built to be, a bedroom, even if it’s used for other purposes. So, if you had three bedrooms and turned one into a study or dressing room, it would count as a three-bedroom home, not a two-bedroom. Check exactly what your insurance provider defines as a bedroom in your policy.
But it’s not just the number of bedrooms that can affect the cost of home insurance. Where you live, your previous claims history, and how secure your home is will also affect your premium – as will any policy add-ons such as legal cover.