Home Insurance
Home Insurance
Home insurance essential over Christmas
As Christmas approaches, consumers are being warned about the necessity of appropriate home insurance.
Presents piled under the tree in the run up to the festive season can add thousands to the value of home contents, causing a problem if the worst happens and a claim needs to be made, says insuresupermarket.com.
Under an "averaging" system, insurance providers can make a decision that because the full value of a person' home contents is not entirely covered, then none of the possessions already existing in the house are fully covered either.
"If you have £45,000 worth of contents but are only insured for £30,000, your insurer may consider you to be 50 per cent underinsured," explained Richard Mason director of insuresupermarket.com.
The insurance company will therefore "only pay half of any subsequent claim, even if it is less than the £30,000 sum insured".
Extending insurance cover over the holiday period, or finding a home insurance policy which offers unlimited cover, can be used as ways around the problem, the insurance advisor suggested.
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