Overview
Ensuring your home contents are properly valued is crucial to avoid being underinsured. Here’s how you can calculate their value accurately.
Step 1: List All Your Home Contents
Check room by room and list everything you own, including:
- Furniture (sofas, tables, wardrobes).
- Appliances (TVs, washing machines, kitchen equipment).
- Personal items (clothes, jewellery, electronics).
- Decorative items (art, rugs, antiques).
Step 2: Estimate the Replacement Cost
For each item, determine the cost to buy a new one (or equivalent replacement) today (not its second-hand value).
- Check online stores or receipts for current prices.
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For high-value items (e.g., jewellery, watches or antiques), consider getting a professional valuation.
Step 3: Keep Records
- Store receipts, invoices, and valuation certificates.
- Take photos of expensive items for proof.
- Keep a digital copy in cloud storage.
Common Mistakes to Avoid
- Underestimating costs – Prices increase over time, so ensure values reflect current market prices.
- Forgetting hidden items – Don't overlook curtains, carpets, and kitchenware.
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Not updating your policy – If you buy new furniture or gadgets, update your cover.
Need More Help?
Contact support on info@laferla.com.mt to submit a ticket.