Why do you need contents insurance?
Look around you at all the personal possessions and items in your Guest House that you have built up over the years, grab a calculator and start adding up the cost of replacing them. Now take into account the effect on your guest house if you are unable to take guests in during the process of claiming and obtaining new goods. It all adds up to an enormous amount of money.
What is contents insurance?
Contents insurance is an insurance that pays for damage to, or loss of, one’s personal possessions whilst they are located within their home. In the case of guest houses it can also cover possessions that are located in guest’s rooms and communal areas.
Possessions can be defined as items not permanently attached to the building and cannot be insured under building insurance. Policies should be checked to ascertain whether possession in outhouses and garages are covered fully.
What does contents insurance cover against?
- storm or lightning damage
- theft or attempted theft
- malicious damage or vandalism
What your contents insurance might not cover?
Exclusions within the policy
- Any excess payable
- Normal wear and tear
- Where reasonable steps were not taken to take care of the property
- Where there is a limit against one specific item
Incompass would be delighted to discuss your insurance needs and provide you with a free quotation based upon your specific circumstances.