Monday 21st August 2006
Many people are undervaluing their homes contents for the purposes of home insurance, according to new figures.
A report by ThecontentsSafe indicates that the contents of around 4.2 million homes in the UK are undervalued by around 25 per cent.
With the average home contents value working out at £42,000, many homeowners face the risk of losing around £10,000.
The firm claims that a large proportion of people are unable to remember all the contents of their home, how much they cost and where they got them from, meaning claims are often for significantly less than the actual amount lost.
"With so many burglaries, fires and even tragedies like the Boscastle flood or Birmingham tornado, the threat to home contents is very real," commented Dean Cornwell, co-founder of ThecontentsSafe.
"But without the ability to list everything you own if disaster does strike, Britons are leaving themselves at very high risk of never even replacing those lost goods."
In addition to ensuring that as many items as possible are listed in your home insurance policy, it is vital to shop around to ensure that your company offers the most comprehensive package for your requirements.
©
Enter your details once and we'll search over 15 online insurers.
