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Legal & General Home Insurance Fancy Home Contents Calculator: Legal & General have released a "home content calculator" to value the contents of your home. As flash as they come web-design-wise (no pun intended) with, completely un-necessary but incredibly trendy, 3D tours of a home to map out the costs. They even spend the time walking you upstairs just for fun when the obvious time-saver option would have been to set the stage in a bungalow or simply rise through the living room ceiling.

You are taken to each room of the house and individual costings groups are pointed out to you and valuations requested throughout. For example, in the living room you are asked individually the value of furniture, soft furnishings, ornaments and pictures, electricals, home entertainment, CDs/DVDs and books plus any other odds and ends you keep in there. This goes on for each room in the house until the end when you can total up your valuation.

So what research spurred this probably-costly version of a, now commonplace, online tool? Well, Legal & General did some research through YouGov that found many people were undervaluing the contents of their homes with 15% having absolutely no idea how much it would cost to replace everything should the worst happen. So how bad is the problem? Well, not that bad actually. It seems that, on average, people were estimating their home contents to be around £33,191 when Legal & General average the normal household to be at £40,005. For the dramatic wording of the release the gap doesn't seem that bad.

So what use is this calculator then? Well the startling facts raised were that there are many people valuing their total contents at far less than the average with 27% of those polled giving back valuations of £20,000 or less. Many insurers have dropped their standard contents cover minimums in recent years with standard cover being as low as the £12,000 mark. Those having home insurance policies with Churchill or Legal and General will be fine with a £40,000 standard cover from each of those insurers. More Th>n policyholders will be even safer with a minimum of £75,000 contents cover.

If you didn't spot such selling points when you bought your cover then you might want to re-check your policy and visit an online calculator to make sure you're not going to be denied a claim if something happens. If the cover isn't great, then the insurer doesn't boast about it when trying to sell you a policy. †

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