Contents insurance typically refers to household content insurance. This kind of insurance is often included in your short-term insurance policy. The household content portion of your insurance policy will cover all your personal property that is kept in your home, such as televisions, home entertainment systems, appliances, furniture and clothing. Although contents insurance covers a wide range of items in your home, you may be well advised to "specify" certain high-value items on your contents insurance policy. Items such as cell phones, portable computers and jewelry which have a high-value and are also very portable are considered "high risk" items and insurance companies may only pay a fraction of the replacement cost of these items unless specified. It is also very important to have your house contents inventoried and appraised to ensure you insure for the correct amount. Most insurance companies will also offer a significant discount on your vehicle insurance if you insure your vehicles on the same policy as your household contents.