Content Insurance is Valuable to Have

As a recent graduate I don’t have too many personal belongings that are valuable.  At least, they aren’t valuable if I wanted to sell them.  If I were to replace each and every “worthless” item I have it would be costly. A hockey bag full of equipment can run you $2000 for low to mid range gear!

I recognized how important my belongings were to me as soon as started to live on my own and always bought contents insurance. If I ever were to get robbed I would be covered up to $30,000 (that’s the package I chose) and I have peace of mind with it.

Covers You During Re-Location

What is really nice about the insurance is that it can cover your belonging as you are relocating from one address to another. So if you ever drop that 50 inch plasma TV – You’re covered! My insurance package also covers my belongings in my car if it were ever to get broken into.  I drive a Buick (I know…granny-mobile) and there is a lot of space in there, enough to fit three adult hockey bags in the trunk along with an unruly passenger.

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This was our garage…

If there was ever a fire your belongings should be covered under fire insurance but it’s always best to see your insurance broker for further advice.  Last weekend there was a detached garage that burned down fifty feet from my parking spot. Since I was away that weekend, my roommate parked in my spot instead of this particular garage.  Fire crews couldn’t save the garage or the cars inside, but they did manage to save the apartment building nearby.  Estimates are coming in at $150,000 worth of damage and I imagine more claims will be added to that as the days go on.

If anyone reading this is like me, your trunk is probably full of stuff that probably totals $500. I have enough stuff in mine to keep me alive for a day or two if I get stranded in a blizzard.  It’s not much compared to losing your car in the fire, but every little bit helps. 

Don’t Forget The Fine Print

When purchasing the insurance, your broker might ask you about sewer backups. The broker I was dealing with gave me the option that covered sewer backups, and one that did not.  It made me wonder just how much this happened to deserve being in its own category to be honest.  I would recommend asking about it to see if it is included, because it did happen to my place this year!  My townhouse did not have sewage backup into our basement, but I think most of the other units on our line did.  Between that and the garage fire it has been an interesting start to the new year.

The point of the matter is that anything can happen anytime. Insurance may cost a little bit of money, but at least you know if you get robbed or if you break anything, you aren’t out thousands of dollars. For me, $250 per year covers me up to $30,000 worth of belongings. I can sleep soundly at night knowing that I have that in my back pocket if anything should go wrong.

You can get contents insurance from any insurance broker and you can discuss how much you need with them. If you bundle your contents insurance with your car insurance among others, it can help keep your costs down. You can also go online and get your insurance without stepping out of your house. Places like CAA, Ratesupermarket, or ANZ Home Insurance are all great places to start looking.

Readers, do you feel the need to get contents insurance?

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