It is an unfortunate fact that most people are under-insured, some often by choice, but when the worst happens it's just not worth the risk.
Do you really know how much the contents of your home are worth? People tend to have a rough estimate in their minds of the value of their home contents but it is not until they actually sit down and evaluate each room individually that they realise just what their house contains - and how much it is worth.
The average New Zealand house contains more than $50,000 worth of possessions - ranging from carpet and furnishings through to clothing and office equipment.
It is the small things people tend to forget such as linen, bathroom supplies, kitchen equipment, tools and books.
TOWER suggests that your minimum contents sum insured should equate to 40% of the replacement value of your home. For example, if the replacement value of your home is $100,000, contents value should be a minimum of $40,000.
We always recommend you complete your valuation on a room by room basis. At TOWER, we automatically offer replacement or repair of the lost or damaged items which are ten years old or less. For all other contents we will cover their actual value.
We also recommend that policyholders review their house and contents insurance when there is a big change in circumstance, such as major renovations, and at regular intervals.
At the end of the day, we're there to help you. Where we have customer representatives, they are available to assist you in valuing your possessions.
Don't forget either, about our Super Maxi Protection House & Contents Insurance policy which covers both your entire house and contents, with no limit to the sum insured. Taking out one of these policies means you will never again worry about being under-insured and you won't need to waste time listing your possessions and trying to work out what they are worth.
Get a Content Insurance quote
For your contents insurance quote or for more information about TOWER's insurance policies, call us on 0800 379 372 Monday - Sunday 8.00am - 8.00pm or complete TOWER's online quote request form and we will contact you.
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