Recent research has revealed that we could be undervaluing the contents of our home by £115 bn6 – meaning that millions of people across the UK may not have the right level of cover for their possessions.
Contents insurance covers anything in your home that isn’t fixed down (think furniture, electrics, clothes, toys, books etc.). Over the years, it’s likely you will have accumulated a great many valuable possessions, including televisions, computers, jewellery, clothing and much more. However, with respondents to a survey valuing their contents at an average of just over £18,000 – almost £17,000 less than the average contents value of about £35,000 – it’s clear that a lot of us are selling our contents short.
The chances are you’ll have a few more expensive electrical gadgets around the house following the festive period. So, it’s worth taking the time to really think about your possessions, write a comprehensive list and tally up what they’re REALLY worth – so you can be confident that you’ve got the right level of cover. If not, any valid claim could be scaled down by your insurer.