9 Things People Get Wrong About Their Contents Insurance

You might be surprised

Team LemonadeTeam Lemonade

We’re here to clear up some common misconceptions so you can separate fact from fiction and get the cover that makes sense for you.

Here’s what we’ll answer:

1. Your stuff is covered by your landlord’s insurance policy

You might think since your landlord has insurance, that will be enough to cover damage to your stuff. Not so.

Your landlord’s policy covers the physical structure of their building and any furnishings or appliances the landlord may own inside, like the fridge or stove, but it doesn’t cover any damages that occur to your MacBook, digital camera, or single-speed bike. If you want to cover your stuff from theft inside and outside of your home, purchase the Theft & Loss add-on and you’ll be sorted.

2. Your parents insurance will cover your stuff

Maybe it’s your first time living on your own, and you think you’ll be covered by your parents’ insurance. Nope.

Your parents’ policy will not cover you and your stuff in your new flat. But if you want to impress, present them with your brand new shiny contents insurance policy and they’ll be chuffed.

3. It’s not worth it because you don’t have any valuables

Maybe you think you don’t have many valuables. For example, you don’t own any expensive art or jewellery—so why even bother with contents insurance? But once you add up common items, you’ll find that you actually do own quite a lot of stuff, and it’d be expensive if bad things happened to it (Consider your phone, laptop, bike, and so on…). 

If you’re lucky to have some nice heirlooms (or anything worth over £2,000), don’t forget to add your high-value items to increase the limit above £2K, up to the full value of the item.  

4. It’s too expensive 

Isn’t contents insurance too expensive?

Well, “expensive is in the wallet of the policyholder”, but contents insurance policies with Lemonade can run as low as £4/month, so that’s probably not a very good excuse to pass up cover. You can also customise your cover to suit your budget.

5. You’re never at home

Are you one of those people who only go back to their flat to crash after a long day of work? (or a long night of fun). Why get contents insurance if you’re basically never at the home you’re renting?

As long as you pick the right add-ons, your policy has your back: whether you’re at home, a pub, coffee shop, airport, party boat, park, shopping centre, Tube, outdoor rave, therapist’s office… you get the idea.

6. It only covers my stuff – what else does it offer?

True, your stuff is covered with contents insurance, but you get more than it says on the tin.

Contents insurance cover extends to instances in which you are liable for causing damage or injury to someone else—whether that means repairing or replacing a damaged item, or covering hospital bills or legal expenses from a lawsuit.  We call this personal liability cover. And if named perils (like fire, water damage, burglary, etc.) cause your place to become unliveable, you might need to hole up in a hotel for a while. The good news is that your contents insurance policy will cover this and other expenses, possibly including any extra cash you need to spend on your own food and laundry.

7. It takes forever to sign up 

One of the biggest misconceptions about contents insurance is that it’s difficult to sign up, or that doing so will be a huge, time-consuming slog.

With Lemonade, at least, that’s not the case. In fact, you probably could have applied and gotten cover on our app in the same time it took you to scroll through this list!

Sign up in a flash

8. I won’t get paid if I make a claim

Won’t my insurance company just find reasons to deny my claim?

It’s a great point; a lot of insurance companies do try every excuse in the book to deny your claim. Except at Lemonade, we’ve turned the insurance model on its head. We don’t pocket the profits of your unclaimed premiums (those go to charities of your choice!). We can even pay some covered claims almost immediately.

9. It’s not worth it

You might think paying a monthly premium only covers your stuff, but in fact it does a lot more than that.

It also has your back if you’re forced out of your home for a covered peril (14 bad things listed on your policy), and provides personal liability cover so if you accidentally cause property damage or bodily injury to someone – you’re covered. BTW if you throw in some add-ons like Legal Protection, you’ll also be covered if you pursue legal cases in disputes related to personal injury, your home, your employment, consumer agreements, and/or clinical negligence causing you injury.

Want to brush up on your insurance know-how? Start with our beginners guide here.

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Please note: Lemonade articles and other editorial content are meant for educational purposes only, and should not be relied upon instead of professional legal, insurance or financial advice. The content of these educational articles does not alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. Any hypothetical examples used in Lemonade editorial content are purely expositional. Hypothetical examples do not alter or bind Lemonade to any application of your insurance policy to the particular facts and circumstances of any actual claim.