Are you protected enough?

When it comes to home insurance, inadequate insurance is a serious problem, and a homeowner who doesn’t have enough coverage could end up out of pocket if they fall victim to a burglary, fire, or other disaster.

There is no point in insuring your belongings if you do not value them properly. If you are the victim of a burglary, fire or other natural disaster and you have insurance, this does not automatically mean that you will receive back the full price of the item. It all depends on how much you are insured for.

Unfortunately, many people discover too late that they have miscalculated how much their property is worth and that they not only have to deal with the emotional side of being robbed or destroyed by fire or flood, but also suffer an accident. financial losses too.

Even if your policy is tied to an index (where every year the home property insurer automatically increases your coverage), it still doesn’t mean that your content is completely protected.

For example, over the course of a year, even something as simple as buying two DVDs and two CDs each month can increase the value of your content by around £ 500. Add to that an expensive watch, a new suit, kids’ games, and more, and you can pack more than £ 2,000 worth of things – none of which will be included in your content insurance.

The key to making sure you have adequate home property insurance is to take an inventory of your property. Include everything from kitchen utensils and children’s toys and clothing to family TV. This will give you the real value of the sum insured.

And if you are a wine connoisseur and have a cellar filled with valuable wines, make sure you check with your insurer if they are covered enough – if at all!

Finally, don’t forget about building insurance. If you have home renovations such as built-in wardrobes or a winter garden, be sure to notify your insurer and raise your coverage.

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