When you take out home insurance, one of the key decisions is how much to insure your contents for. Get it wrong and you could find yourself underinsured when you need to make a claim. But many people don't know where to start when it comes to putting a figure on everything they own.

This guide walks you through how to work out the right amount of contents insurance for your home, what affects the cost, and what to do when you're not sure.

Key takeaways

• Contents insurance should cover the full replacement cost of everything you own, not what you paid for it or what you could sell it for today.
• A room-by-room approach is the most reliable way to calculate how much you need, and most people find the total is higher than they expect.
• According to the Association of British Insurers (ABI), the average contents insurance policy costs £117, but what you pay depends on your individual circumstances.

What is home contents insurance?

Contents insurance is the part of a home insurance policy that protects the things inside your home. That means your furniture, electronics, clothes, kitchen appliances, jewellery, and pretty much anything else that you'd take with you if you moved house.

It's different from buildings insurance, which covers the structure of the property itself, including the walls, roof, and permanent fixtures like fitted kitchens and bathrooms.

Find out more about buildings and contents insurance and why you might need both.

Contents insurance typically covers your belongings against:

• Fire, floods, and storm damage.
• Theft or attempted theft.
• Accidental damage (depending on your policy).

How much contents insurance do you need?

There's no single right answer. The amount of contents insurance you need depends entirely on the total value of everything you own. The aim is to make sure that if everything in your home was stolen, damaged, or destroyed, your policy would cover the cost of replacing it all.

Most people underestimate how much their belongings are worth. It's easy to overlook things like cutlery, bedding, books, tools, and clothing. When you start adding everything up room by room, the total tends to be higher than expected.

How to calculate the value of your contents

The best way to calculate the value of your contents is to go room by room and list everything you own.

For each item, use its replacement value, not what you paid for it originally or what you could sell it for now. Replacement value means the cost of buying the same item brand new at today's prices.

Work through your home like this:

• Living room: Sofa, TV, sound system, games consoles, books, ornaments, rugs, laptops, phones.
• Kitchen: Freestanding appliances (fridge, washing machine, dishwasher), smaller appliances, crockery, cutlery, cookware.
• Bedroom: Bed, mattress, bedding, wardrobe, chest of drawers, all clothing and footwear, jewellery, watches.
• Bathroom: Towels, toiletries, mirrors, any freestanding storage.
• Hallway, garage, and outdoor space: Bikes, tools, garden furniture, pushchairs, luggage.

Your total will give you how much to insure your contents for. It's the maximum your policy will pay out if everything is lost.

What about high-value items?

Many contents insurance policies have a single-item limit, which means there's a cap on how much they'll pay out for any one item.

If you own something worth more than that limit, such as an engagement ring, a camera, or a musical instrument, you may need to list it separately as a specified item.

Check your policy wording carefully to understand what the single-item limit is and whether your high-value belongings are covered.

How much does contents insurance cost?

According to the ABI, the average price of contents-only insurance in the first few months of 2026 was £117 for an annual policy.

Your individual price will depend on several factors:

• The total value of your contents. The more you insure, the higher the price.
• Where you live. Some areas carry a higher risk of theft or flooding, which affects pricing.
• Your home's security. Locks, alarms, and other security features can help reduce your price.
• Your claims history. Previous claims can affect what you pay.
• The excess you choose. A higher excess (the amount you pay towards any claim) usually means a lower price.

If you also need buildings insurance, a combined buildings and contents policy costs £375 according to the ABI. You can read more about how pricing works in our guide to how much home insurance costs.

How Marshmallow can help

At Marshmallow, we offer home insurance designed with UK newcomers in mind. You can insure your personal possessions with our contents insurance, and your building if you own your home.

To find out more about our home insurance or get a quote today.

Frequently asked questions

How much should I insure my contents for?

You should insure your contents for the total replacement cost of everything you own. That means the cost of buying each item brand new at today's prices, not what you originally paid or what you could sell it for. A room-by-room approach is the most accurate way to work this out.

Is £50,000 enough for contents insurance?

£50,000 is a common default amount when you fill out an insurance application form. It may be enough for many households, but it won't be right for everyone. Rather than accepting a default, it's worth doing your own calculation to find out how much cover you actually need.

Does contents insurance cover items outside the home?

Standard contents insurance usually only covers your belongings inside your home. To protect items you take out with you, such as a phone, laptop, or handbag, you'd typically need to add personal possessions cover.

How soon can you claim on contents insurance?

In most cases, you can make a claim from day one of your policy. There's no waiting period for contents insurance. If something is stolen or damaged on the same day your policy starts, you would typically be covered.