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It varies according to the individual policy wording.

For example, if you live in an inner-city area and possess a large amount of valuables, then most insurance companies will insist on certain type of door and window locks, and possibly even a burglar alarm of a certain standard.

As your broker, we will tell you about the ‘small print’ before you buy, so you can make an informed decision.

No, the decision is entirely yours, although it can save money if they are insured under the same policy. Plus, in the event of a serious loss, you’ve only got one insurance company to argue with rather than two.

This one is always tricky because it depends what the replacement as new value of your contents actually is. We can supply you with a room by room calculator so you can work it out, but prepared to be shocked! Most people have no idea and are massively under-insured.

In the event of a loss, your claim will be reduced by the percentage by which you are underinsured. It’s called ‘average’ and it works like this.

If you should have insured it for £100,000 and only insured for £30,000, then that is a ratio of 3/10 (= 30%) so then you will only get 30% of any claim. So, if you claimed for a new carpet costing £10,000 you will only get £3,000 towards it.

At Prizm, we primarily deal with Geo, Magenta, Aviva, AXA, NIG, Ecclesiastical, Covea, Jensten, LV and Lloyds underwriters although the companies offering this insurance may change as the market changes. This market has massively changed over the past decade as many insurers have pulled out after suffering large losses.