Home and Contents Insurance - New for old replacement

Having a new-for-old replacement clause in the policy is essential when insuring your contents. With depreciation eating into the value of your goods, it's likely that they may be worth as little as 20% of what you originally paid.

If you lose it all, however, you won't want to replace your items with secondhand goods. So make sure your policy has a new-for-old clause rather than a residual value clause - where the insurance company can say the TV was worth only $100 because it was old.

Home and Contents Insurance ...