Contents insurance can cover belongings such as furniture, electronics, clothing and appliances against insured events like theft, fire or storm damage, depending on the policy. Work out a realistic sum insured by listing your possessions and checking whether the policy pays replacement value or considers age and depreciation. Read the Product Disclosure Statement for exclusions, limits, excesses and optional cover for items such as jewellery, bicycles or portable electronics. Compare policies carefully and ask the insurer to clarify anything you do not understand before choosing cover.