What counts as a high-value item for home insurance?
Key takeaways
Your valuable items might need to be listed separately if they exceed your insurer's single-item limit or you're asked to specify them when you get a quote
A single-item limit is the most your insurer will normally pay for one possession that hasn't been listed separately
Specifying an item does not always cover it away from home, so check whether you also need personal possessions cover
What counts as a high-value item for home insurance?
A high-value item is usually a possession that needs to be declared separately when you buy contents insurance because it exceeds your insurer's single-item value limit. This amount often varies between insurers, so be sure to look at any limits and requirements of the cover you choose.
Common examples of items that exceed single-item value limits include jewellery and watches, works of art, musical instruments, audio equipment, cameras, laptops and sporting equipment. Your insurer might also describe some of these as valuable, high-risk, specified or listed items.
Item | Average cost to replace |
|---|---|
Paintings/works of art | £5436.59 |
Watches | £5689.51 |
Articles of gold | £5680.51 |
Articles made of previous stones | £4699.31 |
Articles made of precious metals | £4870.27 |
Jewellery | £4634.38 |
Audio equipment | £4646.91 |
Clocks | £4328.38 |
Clothing and personal effects | £3956.52 |
Musical instruments (non-professional use) | £3743.28 |
Hearing aids | £3243.56 |
Sporting equipment | £3128.14 |
Cameras | £2727.23 |
Electrical goods | £2512.84 |
TVs | £2001.72 |
Bicycles | £1748.09 |
Laptops, tablets, notebooks | £1209.53 |
How do I insure high-value items?
You can usually insure valuable possessions through your home contents insurance, but you may need to list some items separately. When you take out cover:
Work out what your belongings would cost to replace so you have enough overall contents cover
Tell your insurer about valuable individual items when the quote asks you to list them
Check where each item is covered, particularly if you regularly take it outside your home
When you compare contents insurance with MoneySuperMarket, we'll ask you to list valuables worth more than £1,000 - but the insurer you choose might have different limits.
Contents calculator
Unsure how much to insure your contents for? Tell us how many bedrooms you have and about any items over £1,000, and we'll estimate the value
Add high-value items (over £1k)
Think of those items in your home that would cost over £1,000 to replace. This could include items like jewellery, watches, televisions, and gadgets.
Your high-cost items list:
| Name | Value |
|---|
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Results
Our data shows people with the same number of bedrooms as you tend to choose a figure between . So, a reasonable level of cover could be:
It is important to check the cover amount you select meets your needs, to avoid potential claim rejections.
Note – the figures shown take into account any specified high value items you have added.
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Start a quote
The figures above are just an estimate. But if you're ready to get a quote then it's time to see how much you could save. Compare home insurance quotesWhat is the single-item limit on my home insurance?
A single-item limit is the most your insurer will normally pay for one possession unless you've listed it separately on your policy - the amount varies between insurers and policies. For example, if your policy has a £2,000 single-item limit and you own a watch worth £4,000, you might need to specify the watch separately to insure it for its full value.
This limit is different from the total amount of contents cover you have, so having enough overall contents insurance won't necessarily mean every individual item is fully covered.
Home insurance limits and terms explained
Term | What it means | What to look for |
|---|---|---|
Contents limit | The maximum overall amount of contents cover | Is it enough to replace all my belongings? |
Single-item limit | The maximum normally paid for one unspecified possession | Does any item I own exceed it? |
Valuables limit | A separate maximum that may apply to valuables as a group | Is the total value of my valuables within it? |
Specified item | A possession you have individually told the insurer about | Is it covered for the right value and where I need it? |
When do I need to specify a valuable item?
You might need to specify an item if it's worth more than your insurer's single-item limit or if you're asked to list it when getting a quote. A specified item or listed item is a possession you've told your insurer about individually, usually by giving details of what it is and how much it's worth.
When you compare quotes with MoneySuperMarket, you'll be able to list valuables worth more than £1,000 - this isn't necessarily the same as the single-item limit of the policy you eventually choose, which can vary by insurer. If you buy or receive another expensive item after taking out your policy, contact your insurer to check whether it needs to be added.
How do I value expensive items for insurance?
You should work out how much it would cost to replace your valuable item, rather than just relying on what you originally paid for it. For items such as jewellery, watches, art or antiques, you may want or be asked to get a professional valuation - values can change over time, so it's always good to review your expensive possessions regularly and check them again when your policy renews.
Remember to keep your overall contents value up to date too. Buying an expensive new possession could affect both the amount of contents cover you need as well as needing to update your listed high-value items.
What proof do I need for valuable items?
Your insurer may ask for evidence that you owned an item and what it was worth, particularly if you need to make a claim - this can include:
Receipts or confirmation emails
Bank or credit card statements
Photographs of the item
Serial or model numbers
Warranties or guarantees
Professional valuation certificates
You could still be able to provide proof of ownership if you no longer have the original receipt - this can be particularly useful for gifts and inherited belongings. Try to keep copies of important evidence somewhere you can still access if your belongings are stolen or your home is badly damaged.
Are my valuables covered away from home?
Not always - standard contents insurance is mainly designed to cover belongings at your home, so you may need personal possessions cover if you want protection when you take valuable items elsewhere. This can be especially useful for:
Jewellery and watches you wear
Cameras
Musical instruments
Bikes
Personal possessions cover may be included with some policies or available as an optional extra, so be sure to check any individual item limits, geographical limits and exclusions before buying. Remember, listing an item separately on your contents insurance won't necessarily mean it's automatically covered outside your home.
When might I need specialist insurance?
You may need to consider specialist insurance if standard contents insurance doesn't provide enough cover for an individual item or valuable collection. There isn't a single value or amount at which everyone needs a specialist policy, so it's always worth comparing your options.
Check whether adding the item to your existing contents policy or taking out specialist cover gives you the limits and protection you need.
What affects the cost of high-value home insurance?
The cost of insuring your high-value contents can depend on the following:
Total value of your contents: Higher overall contents values usually increase the cost of cover
Value of individual items: Expensive single items can raise premiums because they increase potential claim payouts
Type of valuables insured: Jewellery, watches and art are often more expensive to insure than standard possessions
Security measures: Alarms, safes and secure locks can reduce the risk of theft and burglary, and may lower your premium
Where you live: Homes in areas with higher crime rates or flood risk sometimes have higher insurance costs
Claims history: Previous claims can make cover more expensive as insurers see you as a higher risk
Level of cover chosen: Higher limits, accidental damage and away from home cover can all increase price
Excess amount: Choosing a higher excess can reduce your premium but it means you pay more if you claim
Compare high-value home contents insurance
Finding affordable cover for your high-value contents is quick and easy when you compare home insurance with MoneySuperMarket. Just tell us about yourself, your home and the belongings you want to cover, and we'll search the market for quotes that match your needs.
You'll be able to compare deals by the overall cost you'll need to pay, the cover you get, and any extras you can add to your policy. Once you find the one you want, just click through to the provider to finalise your purchase.
High-value item insurance FAQs
What happens if I don't specify a valuable item?
If an item is worth more than your single-item limit and you have not listed it separately, your insurer may only pay up to that limit if you claim. If the policy required you to declare the item and you did not, your claim could also be reduced or refused depending on the policy terms.
Can I add a valuable item after my policy starts?
Yes, you can usually contact your insurer if you buy or receive a valuable item during your policy. Tell them what you have bought and its value so they can confirm whether your existing cover is enough or whether the item needs to be added separately.
Your premium may change if you increase your cover or add an expensive specified item.
Can I insure inherited valuables without a receipt?
You may be able to. If you do not have a receipt for an inherited item, an insurer may accept other evidence of ownership and value, such as photographs, original packaging, serial numbers or a professional valuation certificate.
Ask your insurer what evidence it requires, particularly for expensive jewellery, art or heirlooms.
How often should I have valuable items revalued?
There is no single revaluation timetable that applies to every item or insurer. Check your policy requirements and consider a new valuation if the item's value may have changed significantly.
It is also sensible to review the value of your possessions when renewing your contents insurance or after making a major purchase. MoneySuperMarket recommends regularly reviewing valuable items because their value can change over time.
Are my valuables covered abroad?
They may be, but only if your policy provides the right away-from-home cover. Personal possessions policies can differ in where they provide cover, how long you can take belongings abroad and the maximum amount you can claim.
Check your policy before travelling with expensive jewellery, cameras, laptops or other valuable items.
Can my insurer require me to use a safe or alarm?
It may do. Insurers can apply security conditions to valuable possessions, so check your policy for any requirements about how or where an item must be stored.
Failing to meet a policy condition could affect a future claim, so ask the insurer if anything is unclear before taking out cover.
Can I insure a valuable collection on home insurance?
Possibly. Whether standard contents insurance is suitable will depend on the total value of the collection, individual-item limits and any overall valuables limit.
If the collection is too valuable for the limits available under standard home insurance, you may need to compare specialist cover instead.
Author
Mehdi Punjwani
Insurance specialist
Mehdi is a financial writer and editor with over six years of experience in personal finance. He has written for organisations and publications including Equifax, The AA, and USAToday, covering a...
