Silly mid on or deep extra cover?

Many home insurance policies only offer cover against the cost of fires, floods, burglary, things like that, unless you pay at least 25% extra for what is known as “accidental damage” cover. But is it worth it?

As they say accidents do happen, especially if children or pets are around and the contents of your home are always more at risk of an accident. At PolicyCastle we think the extra cost is usually worth it when you consider how much it would cost to replace accidentally damaged items.

On that subject most home policies also include “new for old” so that any item that is lost or damaged is replaced with a like-for-like new product. Whilst that’s good thing there is little doubt that it has led to an increased number of false claims which have pushed up everybody’s premiums. Honesty remains your safest and best policy.

Finally don’t forget when working out your contents sum insured to include the new replacement costs, it’s usually the maximum the insurer will pay out if everything is lost!

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