Home Insurance for Items ‘Kept for Best’

Whether it’s your fine china that only appears at Christmas, a dress that you’d only wear out for a high class dinner, or wedding gifts that rarely see the light of day, British women are hoarding around £22billion of goodies according to research from a home insurance provider.

It found that eight in ten women have a collection of goods that they only unearth on ‘special’ occasions - with each woman’s collection averaging a total worth of £1,093.

Among the items being kept ‘for best’ are household goods such as glasses and glassware (43 per cent), dinner services (33 per cent) and silverware (15 per cent). In addition, women keep aside shoes and clothes for special occasions (58 per cent) and over half (52 per cent) have a selection of gems that only come out on dazzling nights.

There are many reasons why women choose to keep these items stored away. In many cases it is because they are simply too expensive and they don’t want to risk them getting damaged. In other cases, they hold sentimental value and would be almost impossible to replace.

It is a shame to keep these items hidden purely because of a fear that something might go wrong. That’s why British women are encouraged to take out suitable home insurance which will provide a safety net for their most valuable goods.

How can home insurance help?

Home insurance can provide cover for almost any item if you take out a contents insurance policy.

Contents insurance covers all the items that can be moved in your home - i.e. not the fixtures and fittings. This can range from furniture and curtains to goods such as clothes, shoes and jewellery. You should check the terms and conditions before applying for a policy to see exactly what is and isn’t covered.

If you already have home insurance in place then it’s important to keep the policy up to date. An insurer will only pay out for items within a policy limit. If you buy new items that take the value of your contents above this policy limit then you need to keep your insurer informed so your policy can be adjusted. Thankfully, many insurers offer increased cover over Christmas and wedding periods - meaning that you have an automatic fallback at a time when almost everyone increases the value of the items they own.

Many home insurance policies now include personal possessions cover. This will cover items that you take outside the home - so if you wear expensive jewellery to a party for example, it could still be covered for loss, theft or damage if you have personal possessions cover in place. Also look into accidental damage cover so your best items are protected from damage from unforeseen incidents.

Those with items that are of particularly high value should consider insuring them separately. Most home insurance policies have a single item limit - typically in the region of £1,500 - and anything valued higher than this total will need to be insured individually. Some home insurers will offer extended cover but you can expect this to increase your premiums.

If you’re worried that an insurer might not pay out for a claim then take steps to ensure the claims process runs smoothly. Take photographs of items that you buy and even keep an inventory list of all the items you own. If you create a scrapbook with pictures and receipts of expensive items then you ensure that you have proof of purchase if a claim is necessary.

How can you protect items and avoid home insurance claims?

While home insurance provides a safety net, in an ideal world you’ll never need to make a claim. So how can you protect your items?

One step is to think about where you store these goods. For example, if you keep your best clothes in a wardrobe with a key lock then they are less likely to be stolen if your home is to fall victim to a break-in. If you store items in an outbuilding you should ensure that this is covered by your home insurance policy and locked with a suitable padlock.

From there, consider investing in greater home security. Fitting security devices such as burglar alarms, time-switch lights and five-mortise locks to doors can all help to deter thieves. Joining a Neighbourhood Watch scheme could also be beneficial.

As an added bonus, most home insurance providers will reward you with discounts if you can increase the levels of security at your home.