How to Value Your Contents Within Your Home

When you take out contents insurance you'll be asked how much your belongings are worth – sometimes referred to as the ‘sum insured’. It's a question many people answer with a rough guess. But getting this figure right really matters.

If you underestimate the value of your contents, you could find yourself out of pocket if you ever need to make a claim. Recent findings have found that roughly 70% of homes in the UK are currently underinsured (Chartered Insurance Institute: The Journal, 2026).

With that in mind we’re sharing our top tips to help you work out the correct figure.

What does contents insurance actually cover?

Contents insurance covers the things inside your home that aren't part of the building itself. Think of it this way - if you picked up your home and turned it upside down, anything that fell out would be your contents.

This includes, but is not limited to:

• Furniture that is not fitted - sofas, beds, tables
• Electronics - TVs, laptops, phones, games consoles
• Clothing and shoes
• Kitchen appliances
• Jewellery and watches
• Books, records, video games, DVDs, and similar items
• Tools and garden equipment (check your policy for limits)
• Soft furnishings like curtains and rugs

What happens if you're underinsured?

If you have underestimated the cost of your contents you could end up being ‘underinsured’, which may invalidate cover or result in a reduced pay out if you ever need to make a claim.

For example, if your contents are worth £30k but you've only insured them for £15k, your insurer might only pay out half of any claim. That could leave you significantly out of pocket at the worst possible time.

Taking the time to value your contents properly now could save you a great deal of stress and expense in the future.

How to value your contents

For contents insurance, the value is calculated from the cost of replacing all your belongings with new items of a similar type, quality and function.

Go room by room. It's the most reliable way to make sure you don't miss anything. Start with one room and list everything of value in it. Estimate what it would cost you to repurchase every item.

Don't forget to include:

• Clothes and shoes - people consistently undervalue these. Think about the full cost of replacing your entire wardrobe
• Small items that add up - cutlery, crockery, bedding, towels
• Items that are usually kept out of sight – check your loft, garage, and shed
• Items you use frequently that you might overlook, like a good kitchen knife, a food processor, or furniture and items that you keep in your garden

Pay special attention to high-risk items

High-risk items are typically defined as one of two things – either they have a high monetary value or they can be easily lost or be stolen.

Most contents policies, including NatWest’s Contents Insurance, have a ‘single item article limit’. This is the maximum an insurer will pay out for any one item, and it usually will only apply to high-risk items. If you own any high-risk items that are worth more than this limit – for NatWest policies this is £2.5k - you'll need to specify it separately on the policy.

If a single item is worth over £15k, then it may not be covered under a standard home insurance policy. In which case you may need a specialist or non-standard policy to make sure it’s fully protected. Get in touch with your insurance provider to discuss your options.

High-risk items to think about include, but are not limited to:

• Jewellery and watches
• Hearing aids
• Musical instruments
• Cameras and photography equipment
• Antiques or collectibles
• Art

For these items, you might want to consider getting a professional valuation. If this is a requirement, you will be advised when purchasing the policy. Photographs and receipts are helpful too - they may make claiming much easier if something is lost or stolen.

For a comprehensive list of high-risk items, it’s important to check your policy wording. You can also contact your chosen insurer before purchasing a policy, to make sure you have everything covered when you’re applying.

Keep your valuation up to date

The value of your contents changes over time. You may buy new things, receive gifts, and your existing items can go up or down in value.

For example, you might get engaged and add a valuable ring to your belongings. It’s important to let your insurer know if the value of your contents has increased. Items like jewellery are usually classed as high-risk, so if the ring is worth more than your policy’s single item limit, you’ll need to list it separately on your policy.

Make it a habit to review your contents valuation at renewal each year. Also update it whenever you make a significant purchase - a new laptop, piece of jewellery or furniture. After Christmas or a birthday, when you might have received gifts, is also a good time to revisit your estimate.

Sources

Chartered Insurance Institute: The Journal  - Underinsurance Leaves 7 in 10 UK Properties Exposed:

https://thejournal.cii.co.uk/2026/02/12/underinsurance-leaves-7-10-uk-properties-exposed