Only around half of UK households have a policy protecting their possessions, and one reason may be concerns over the cost of contents insurance.
However, contents insurance is not only surprisingly affordable, it also covers more than you might expect.
We’ve broken down the average cost of contents insurance in the UK, the information you’ll need to get an accurate quote and the details of what your policy will cover.
What’s the average cost of contents insurance in the UK?
According to the Association of British Insurers (ABI) Household Premium Tracker, the mean price of contents insurance was £138 a year in 2024 for UK homes.
However, the price you pay depends on the value of the items in your home, your desired excess and the security you have in your home.
Compare the Market says that more than half of their customers were quoted less than £70 a year for contents insurance in December 2024.
What information do I need to set up contents insurance?
While different providers might have slightly different requirements, in general, you’ll be asked to provide the following:
- Your full name and contact details, including mobile and email
- Your property address, whether you own or rent and how long you’ve lived there
- The approximate value of the items in your home, including furniture, appliances and carpets
- The safety features installed, including locks, fire alarms and burglar alarms
- How your home is constructed, what materials it’s made from and if it has a flat roof
- Your insurance policy history, particularly if you’ve had contents insurance before how long since you last made a claim
What’s the average UK home contents value?
According to Which? the average value of the contents of a home in the UK is £52,000.
As the cost of contents insurance is based on the value of your possessions, it might be tempting to underestimate and get cheaper premiums. However, consider how much it will actually cost to replace the items in your home in the event of a fire, theft or flood.
Your home contents value includes:
- Personal electronics like laptops, computers, TVs and mobiles
- Clothes, shoes and jewellery
- Furniture, appliances and carpets
- Artwork and musical instruments
- Collectibles and antiques
Some items might need to be added to your policy separately. This includes items over a certain value, bicycles and the food in your fridge and freezer, in case of a power cut.
You can also choose to insure your items outside of your home. This could be protecting your personal items and electronics from pickpockets, or ‘contents in transit’ insurance which protects your possessions while you’re moving home.
