Are my gifts covered under my contents insurance?

Whether it's for Christmas, your birthday or just because, you may have recently been surprised with pretty jewellery, fun sporting equipment like an e-bike, or fancy electronics and are now wondering whether these new treats are covered under your contents insurance policy. We've put together a list to guide you through and help you out.

Know the value of your present

It's important to know the value of your gift as this could affect the amount of contents insurance you have. While most items will be covered under your policy, you may need to specify those big-ticket items that meet certain criteria and need to be listed individually or added as a specified item.

If you have contents insurance with Tower, the single item limit is determined based on the policy you have with us, which can be found in your policy wording.

Check the specifics with your insurance provider and if you have received a high-value gift that meets the criteria of your policy, make sure you notify them and have it added as a specified item.

If you are a Tower customer, you can do this online using My Tower 24/7 no matter where you are in the world.

Make sure you have enough contents insurance cover

The value and item may mean your present doesn't need to be specified under your policy, but it may still be enough that you need to reconsider the amount of cover you have in place and update your contents insurance. After Christmas is always a good time to revisit the sum insured on your contents insurance policy, do the calculations of your contents, and update the value to reflect what you now own.

If you are uncertain of the amount to insure your belongings, and don't want to underestimate, Tower has a contents calculator to help you work out the right amount. Even those smaller gifts can add up fast and increase the value of your contents quickly.

Remember to also check out the limits in your policy wording, as this will show how much your insurer is willing to pay for any unspecified items.

Here at Tower we offer three policy options - Standard, Plus, and Premium - and the amount you are covered for varies depending on the policy you have chosen. Compare the options and take a look at what each policy option covers:

If you're an existing Tower customer and want to change your contents policy, you can do this online 24/7 using My Tower. Or, if you're new to Tower and interested in finding out what level of cover is right for you, have a chat with the team at Tower or take a minute and get a quote online.

Keep track of your valuables

It's a great idea to take photos of your contents as evidence to show they belong to you. Even better, keeping receipts, serial numbers and valuations handy will help at claims time. You can save both the photos and digital copies of the items' values on a cloud storage site to make it easier for you to refer to them later.

After making sure you have the right contents insurance cover, and putting your presents on your policy, you can relax and enjoy your new items with no stress!