Busting the biggest myths about home contents insurance

Home contents insurance is one of the most common forms of insurance – and often one of the least understood. It may not be required by law like car insurance, but if you want to protect yourself and your family – and avoid a potential financial nightmare should disaster strike – it pays to take a moment to clear up some of those common misconceptions about your coverage.

1. "It's expensive and just isn't worth it"

Your possessions probably add up to a lot more than you think – the average family in the UK has more than £55,000 worth* of contents in their home. That’s quite a sum to wrestle with should you be hit by a disaster like a fire, theft or flood.

With Lloyds Bank protecting yourself could be a lot more affordable than you think.

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2. “It’s too hard to make a claim”

Making a claim may be easier than you think. You can talk through your claim by phone with one of our UK-based Claims Handlers. And if you have a complex claim and we feel you need extra support, we’ll arrange a Personal Claims Consultant to manage your case.

 Making it easy for you

3. “I’m already covered”

It’s a common misconception in rental properties that the landlord will have already arranged cover, but their legal responsibility usually only stretches to the building and permanent fixtures. Likewise, if you own a flat or apartment, the building may be covered by your building owner, but not the contents. It’s generally your responsibility to ensure your own possessions are covered against loss or damage, so make sure you’re protected.

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4. “It will never happen to me”

It’s never nice to think the worst will happen, but the fact is that each year, property insurers settle home contents claims for thousands of customers. Rather than leave it to chance, you can arrange cover for your specific needs through Lloyds Bank.

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5. “I’ve lost my receipts and won’t be able to claim”

It’s always best to keep receipts for big-ticket items in case you need to make a claim for anything that is stolen or damaged. However, this doesn’t necessarily mean your claim can’t be fully or partially completed without all the receipts.

Make sure you keep an updated record – including photographs – of your valuables.

Know how to value your valuables

* Source: http://www.themoneypages.com/latest-news/brits-underinsuring-their-household-contents-risk-not-being-fully-covered/

Protecting the things you love

With Lloyds Bank you can arrange high-quality, affordable cover tailored to suit your specific needs.

Our standard contents insurance policy will include cover for most high risk items in your home – usually items that are easy to steal or damage and are expensive to replace. This includes things like computers, TVs, cameras and other electronic equipment that you can specify in your cover.

Plus there’s a range of other items you can add to your policy to meet your specific needs, including:

  • Gardening tools, furniture and outbuildings
  • Pedal cycles – both in and away from your home
  • Personal belongings when you’re abroad (for up to 60 days)

Your cover explained

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