Private Clients. High value home insurance, reviewing and calculating the correct value of your home contents

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When did you last review your contents sum insured?

Statistics show that up to 70% of UK homeowners are underestimating the value of their personal possessions by as much as 30%.

Most people are reluctant to increase their contents cover, thinking the premium will shoot up. But the extra cost is often less than you’d expect – and well worth it if it means you’re properly protected. It also ensures that your claims are paid in full without deduction.

It is important to remember that you insure for the full replacement cost of your contents and not the market value at the time of a loss. Remember to include items such as CD’s, clothing, sportswear & sport equipment such as golf clubs or skiing gear. Surprisingly, the average sum insured for clothing in high net worth homes is £20,000.

Our asset calculator has been designed to help you calculate your sums insured. Besides listing what you own, it’s also good to do the following:

– Take photographs of any valuable or unique possessions

– Keep your purchase receipts for valuable items

– Obtain valuations for expensive items of jewellery, watches and other precious possessions such as fine art and antiques

To learn more about calculating the sum total of your contents please contact Carl Sharp on 0118 9165 487 or email carl.sharp@macbeths.co.uk.

*Information correct as of 1st May 2016

Author: Carl Sharp | July 3rd, 2012

Contact the author

Carl Sharp
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk