Don’t forget to Insure your Power Tools

Power tool collage isolated on a white background depicting carpentry and construction tools.

Most of us take out home insurance of some type and make sure that we have a reasonable amount of content coverage. However, despite this we still forget to buy enough coverage. We remember to add our expensive pieces of jewellery and tech to the policy to make sure that if we are burgled they are covered, but we often forget to insure basic, everyday items.

I was reading recently on www.thatsinsurance/travel-insurance that 6.8 million UK homes are underinsured. That equates to one in five households not having enough buildings or content insurance to cover their losses in the event of a fire, flood or burglary.
This article will help to ensure that you are not one of them. Here are some tips to help you to avoid this issue.

Three areas of the home we all forget

The three main areas we forget to factor in when calculating how much content insurance we need is the contents of our shed, garage and loft. Often these are big omissions because these areas of our home often contain some of the most expensive items in the house.

The contents of your garage is worth thousands


On average, a UK garage contains £2,000 worth of tools. Depending on the exchange rate, that equates to $3000+ and in the US the average value of what is in a home garage or workshop is even higher.

If you are a home hobbyist or very keen on DIY the chances are you have pieces of equipment that cost you hundreds to buy. Some of these items should be listed individually on your contents policy to ensure that they can be replaced if they are damaged or stolen.

The garden shed

shed contents

Some people’s sheds only contain a couple of shovels and maybe a broom, but the majority of people own lawnmowers, hedge trimmers and other expensive pieces of equipment. A keen gardener will have equipment in his or her shed that is worth hundreds of pounds. Kit that they have no coverage for.

Not only do they not have enough content insurance coverage if they have bought the wrong policy they may have zero coverage for what is in the shed. This is because in some areas some firms do not provide any coverage for the contents of a shed. If you live in such an area and cannot persuade your normal provider go to to find information about buying dedicated shed insurance.

Expensive loft junk

A good home contents policy should cover the entire contents of your home including what you have stored in the loft. Most people’s lofts are full of memorabilia old photos, the kid’s paintings and old fancy dress costumes, but not everyone’s is like that.
Some families have stuff in their loft that is actually quite valuable. For example, I had a friend who had two motorbikes and an airplane engine (all in bits) stored up there. When he eventually got them down and sold them, he got thousands for them. He certainly did not have enough insurance to cover those items and everything else in his home.

Think when applying for contents insurance

Next time you renew your buildings and content insurance policies there are two things you need to do.
1. Check your policy covers all of your contents and there are no exceptions e.g. items over a certain value, of a certain type or stored in a certain part of your home.
2. Make sure that you buy adequate coverage and you list out expensive items if you are required to do so.
Do this and you should not find yourself uninsured.