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A coffee a week or contents cover?

A coffee a week or contents cover?


Are you willing to risk everything you own for the equivalent cost of buying just one coffee a week?

For a large number of Britons the answer would appear to be yes.


Average worth of possessions hits £35,000

The value of personal possessions kept in the home has spiralled in recent decades and now stands at an average of £35,000, according to figures from the Association of British Insurers (ABI).

Based on 27.2million homeowners in the UK, that’s a grand total of £950billion worth of goods kept in our homes.

But over one-in-four uninsured

Even so, the ABI says that well over a quarter of UK households (28%) don’t have any insurance cover for their possessions, putting themselves at great financial risk.

If one day they found they’d been cleaned out by thieves, or their home burned to the ground, they could be in serious difficulty.

As the UK gross average salary is around £27,000, householders would have to somehow find well over a year’s salary to replace the average of £35,000 of lost items.

Most couldn’t afford to replace possessions

Most people struggle to put much away each month, so having to suddenly find tens of thousands is clearly going to be impossible for many. They would essentially have to start again after possibly years of acquiring possessions, some of which might be carefully chosen and much-loved.

A coffee a week or contents cover?

At a little under £3 a week, the average cost of a home contents insurance policy is around the price of a cup of coffee in Starbucks. And there are a lot of people who buy at least one coffee a day on their way to work!

If you’re a homeowner and disaster struck you would need buildings cover too, to make sure you won’t lose the value of your property as well as possessions.

Combined policies cost two cups of coffee

According to the ABI, a combined policy costs less than £6 a week, which is two cups of coffee on the daily commute.

Cost, of course, is important when it comes to home insurance.

Here are a few tips for keeping it down when searching for a deal:

Improve home security – Insurers often give reductions if you have good home security, such as British Standard 5-lever locks on windows and doors, or a burglar alarm.

Increase the excess – Policy costs might come down if you increase the excess. This might be £150 as standard, but you could offer to cover the first £300, for example.

No-claims discount – The fewer claims you make, the greater the discount you can get as a bonus for not having claimed. If you claim just once, you lose all the years you may have built up.

Switch providers – Insurers nearly always offer the best rates to new customers in the hope they’ll stay on at renewal time, so switching could save you a considerable sum.

Use online comparison sites – There are plenty of powerful online comparison tools to help you compare prices. Just make sure you’re comparing like-for-like and that the policy gives you what you need.

Ask a broker – Calling a broker might net you a deal you can’t find online. They can sometimes access offers from insurers that are one-offs, or only available through direct contact.


Policy Expert

Our customers are at the heart of everything we do, so we have a team of experts with a real passion for making sure people get the cover that’s right for them. For more information, you can call our experts on 0330 0600 600 or visit for more ways to reach us.


Published 17th April 2018