So check.To show the price differences, we got some quotes for yearly home contents cover of pounds 30,000 on a four-bedroomed detached house in Ipswich.Sum-insured policies. Some include a certain amount of accidental damage in their standard policies but it’s not advisable to rely on that More comprehensive cover is recommended. Check the terms of your policy.As with all insurance cover there are considerable price variations between companies, so it’s worth shopping around for the best deal. Once a policy needs to be renewed, find out what else is on the market first.The cover also varies from insurer to insurer. However, they are usually insured if you have personal possessions cover (aka all risks) But, even then it is worth checking.

“An increasing number of insurers are excluding mobile phones from personal possessions policies due to the frequency with which people misplace them,” warns Andrew Marsh, of Liverpool Victoria. This may seem like preaching, but many people don’t and find, to their horror, they aren’t covered when they thought they were.It is important to watch out for items often taken outside the home where they aren’t covered – such as bikes, cameras, mobile phones, camcorders and laptops. Most policies don’t cover belongings away from the home unless specifically asked for. Whether or not you live in a Neighbourhood Watch area; have a burglar alarm and specified locks; and are an owner-occupier or a tenant are also taken into account.Insurers continuously stress the importance of reading the small print of a policy and familiarising yourself with what you are and aren’t covered for. Like car cover, no-claims bonuses can be accumulated on home contents cover. Within this are limits for items such as entertainment goods, for instance, stereos, videos and jewellery. AxaSun Insurance has a similar policy, but maximum cover is pounds 35,000.Alternatively, in a sum-insured policy, cover is calculated on the cost of replacing items in the home.

This is based on a fairly accurate valuation of your home’s contents. It is important to be aware of this when buying new items as they could take you above your cover limit. In many cases, you don’t need to worry too much about this as insurers tend to increase the upper limits by 10 per cent for a period over Christmas. But it’s not an excuse to forget about that new computer or bike, which may need an extension to your cover.”When you get into the new year and things have calmed down again after Christmas, it is worth reviewing your home contents insurance and double checking that you are adequately covered,” advises David Ross, a spokesman for AxaSun.A sum-insured policy tends to offer greater flexibility and can have more discounts.