Do You Know The Value Of Your Possessions?

Forties are fabulous with the magic year being 48 when the value of our possessions reach a peak – but the downside is many of us are underinsured.

gadgets and computers to find expensive items. There’s also the value of clothes in your wardrobe, for many worth well over £2,500.

Matt Pernet, Head of MORE TH>N Home Insurance, said: “Given the importance we seem to place on having the latest gadgets and electronic items, it’s concerning how infrequently we stop to assess the true value of the items we keep in our home.

“A third of Brits (34 per cent) believe that their current level of home insurance will cover them for the rest of their lives and ten per cent haven’t reviewed their cover since they first took it out. It’s essential to keep track of what you own and review home contents at least once a year to avoid the risk of being under-insured and to ensure you’re prepared should the worst happen.”

MoneyHighStreet.com comments: “Being underinsured is a major concern. Taking time to properly asses the value of your contents is vital.

“Equally it’s important to take time to ensure that you have the best home insurance deal to meet your needs. Recent research by moneysupermarket.com for example showed that the average household is wasting £125 per year just by sticking with their current provider at renewal.”