Contents Insurance
Printed From: OHbaby!
Category: General Chat
Forum Name: General Chat
Forum Description: For mums, dads, parents-to-be, grandparents, friends -- you name it! And you name the topic you want to chat about!
URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=19275
Printed Date: 02 October 2025 at 8:33pm
Software Version: Web Wiz Forums 12.05 - http://www.webwizforums.com
Topic: Contents Insurance
Posted By: KH25
Subject: Contents Insurance
Date Posted: 19 July 2008 at 11:36am
I was just wondering what amount of contents insurance you have (if you don't mind sharing). I received a letter from my insurer saying the average 3 bed house should be insured for $139,000 and they are concerned our cover is too low - which I know it is. Thanks  ------------- Kelly, mum to DD, 19Jun06 (26wks 1lb15oz) DS1, 24Oct10 (32wks 4lb11oz) and DS2, 31Dec11 (32wks, 4lb11) http://lilypie.com"> 
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Replies:
Posted By: minik8e
Date Posted: 19 July 2008 at 11:52am
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I guess it depends - there are calculation sheets you can get to do an estimation of what your contents are worth. We have $40,000 - have a 2 bdrm + conservatory house. It is slightly low - should be around $60K I think, which we will increase it to once our income goes up slightly.
As for an average house having contents of $139K - I work in insurance and we have very few policies come through with contents over $80-90K. The ones that are have a LOT of specified items - ie. antique furniture, expensive jewellery (I did one a few months ago where there was $40K of jewellery alone  ) or have HUGE houses - 250m2 plus that have been extensively renovated (brand new carpet/curtains etc).
Just my 2c worth
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Posted By: caliandjack
Date Posted: 19 July 2008 at 11:59am
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Our contents is around 50K, and there are a few items like my engagement ring which are listed as separate items.
House contents is what ever AMI worked it out as based on the floor area of our house, we have deadbolts and locks on the windows but no alarm. ------------- http://lilypie.com" rel="nofollow">   [/url] Angel June 2012 |
Posted By: kebakat
Date Posted: 19 July 2008 at 12:23pm
| Our contents insurance is waaay too low but we aren't going to put it up until we are in a better position financially. Ours is currently $40k but it really needs to be up to more like $70k I think |
Posted By: jack_&_charli
Date Posted: 19 July 2008 at 12:32pm
ours is around 50K i think......but am thinking of putting it up to 60K now that we have 2 kids, more toys and a big tv ------------- http://www.alternatickers.com"> 
http://lilypie.com"> 
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Posted By: KH25
Date Posted: 19 July 2008 at 12:38pm
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Oh cool thanks! Ours is at $40,000 at the moment aswell which I thought was super low. We took out that policy when DH and I first moved in with each other - 2 bed flat with all 2nd hand furniture etc. We only have a couple of items listed seperately. Might see how much of an increase in premium it is to go up to maybe $70k or so ------------- Kelly, mum to DD, 19Jun06 (26wks 1lb15oz) DS1, 24Oct10 (32wks 4lb11oz) and DS2, 31Dec11 (32wks, 4lb11) http://lilypie.com">
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Posted By: AliaDawn
Date Posted: 19 July 2008 at 1:33pm
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Ours is at 40k, and that's a couple of poor students in a 2bed flat... will probably have to go up in a few years time. -------------  
 
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Posted By: Mum2L
Date Posted: 19 July 2008 at 2:54pm
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$33K for DH and I. We really don't have a lot of high value items in the house, apart from our TV and laptops. The insurance company weren't too keen to have a low value contents insurance, but I said I walked around the house and worked out the value of everything, which came to $30K.
We originally started off with $13K, but over the period of living together for 3 years, we recently just put it up to $33K. I revalue everything on a yearly basis, when the policy is due to be renewed. ------------- http://lilypie.com"> 
http://lilypie.com"> 
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Posted By: cuppatea
Date Posted: 19 July 2008 at 3:05pm
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Ours is $67K for some strange reason. ------------- 
 
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Posted By: Snappy
Date Posted: 19 July 2008 at 3:17pm
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We have just put our contents up from 40K - 86K and its only an extra $2 a fortnight. ------------- Mummy to two beauties... Formerly Kaiz. |
Posted By: mrsturtle
Date Posted: 19 July 2008 at 3:38pm
| Ours is 61k we put it up from 50k when i ran over my handbag and found out that we only got value replacement on a couple of things event though they were new but with this new policy we get full replacement on almost everything |
Posted By: lizzle
Date Posted: 19 July 2008 at 3:47pm
| 72K. when we did our estimate, i found out weird things - like jake has a plastic animal collection valued at over$300. |
Posted By: busymum
Date Posted: 19 July 2008 at 4:18pm
Last time ours was reviewed we found out (to our surprise, because we must have forgotten) that ours was only at $40K - which was ok when we had just got married... but maybe only until we opened the presents!!! 
We went thru all the rooms of our house and wrote everything down. It was a numbing task  and finally decided on $100K insurance. That's when we had a boarder, so 3 adults and 2-3 preschoolers. in a small but 5 bdrm house LOL-------------  |
Posted By: minik8e
Date Posted: 19 July 2008 at 5:16pm
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lady_aset - do you own your home? I know it sounds like a weird question, but there is a reason behind my madness
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Posted By: .Mel
Date Posted: 19 July 2008 at 5:48pm
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Ours is $60K that doesn't include my wedding and eternity ring... they are insured separately.
I've actually taken photos of everything and have them saved onto a stick which is at mum and dads, each time we get a new ticket item I take a photo and send it to mum and she saves it on to the stick. (the photos are of the item and then of the serial code). ------------- Mr Mellow (16) Miss Attitude (8) Destructa Kid (3) 
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Posted By: Kelpa
Date Posted: 19 July 2008 at 8:44pm
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.Mel
WOW..you are super super super organised :) -------------  
 
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Posted By: .Mel
Date Posted: 19 July 2008 at 8:49pm
When I was flatting (before kids) we got burgled and they took pretty much everything, I lost a lot of stuff, so yeah very careful this time around. ------------- Mr Mellow (16) Miss Attitude (8) Destructa Kid (3)
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Kelpa wrote:Posted By: pikelets
Date Posted: 20 July 2008 at 4:40pm
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The average policy in NZ is around $50k but insurance companies think it should be around $70k - most people are underinsured.
I put mine up from $40k to $60k and it only cost about $2 if that per fortnight. When insuring contents you have to work out if you lost EVERYTHING in a fire for example - how much that would be. Will be more than you think. ------------- http://lilypie.com"> 
 3 Angels - Dec10 / Mar11 / Dec11
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Posted By: Mum2L
Date Posted: 20 July 2008 at 6:00pm
No, I don't. Would be nice, but the bank said with DH and I's income and deposit, we can only get a mortgage of $270K!! Not much in a city like Wellington. ------------- http://lilypie.com">
http://lilypie.com">
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Posted By: Mum2L
Date Posted: 20 July 2008 at 6:03pm
I've done the same as well (except I have all the serial numbers and stuff saved on my university drive and the one at work, plus a copy in my yahoo email account. It pays to do so, as when you report something stolen with those details, makes it very hard for them to sell it at a place like Cash Converters! ------------- http://lilypie.com">
http://lilypie.com">
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Posted By: Sarah Beth
Date Posted: 20 July 2008 at 6:11pm
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$70k here and have to say most NZers are under insured. We did a study at work the other day and found the majority of contents policies were dramatically underinsured and while people say they can't afford it, it would be worse should you lose everthing!
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