Under home contents insurances valuables are usually defined as jewellery, watches, gold, silver, precious metals, gemstones, furs, pictures, curios and other works of art, stamp, coin and medal collections, televisions, radios, home computers, audio and home computer equipment. The reason for the definition is that valuables are more high risk than other general household goods and are targeted when there is a burglary. Valuables also have a higher cost than most other general contents. An insurer would consider a home to be an increased risk if has a high combination of valuables compared with the other contents, so for that reason they set a valuables limit to ensure that they are not exposed to unbalanced policies without their knowledge.

The total valuables limit is usually one-third of the contents sum insured or £5,000 whichever is the greater, with a single item of valuables £1,500. This will vary from insurer to insurer. Most insurers can cater for higher total valuables and single item worth more than the single limit by specifying on the schedule. Your policy wording will detail the set policy limits applicable.

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