Dedicated follower of fashion!

A recent study by Hiscox showed that, on average, the British public spend close to £1,000 a year on clothes. However, high net worth individuals pay, on average, three times as much at £3,600 per annum! The study showed that more than a quarter admitted they did not factor in their wardrobe when considering their home contents insurance!

London Fashion week is fast approaching and it is expected that the dedicated followers of fashion will be out in large numbers looking to add the latest trends to their wardrobes. But, are these clothes insured correctly or even insured at all?

Standard household insurance policies will provide cover for clothing but a deduction for ‘wear and tear’ will be made from any settlement. Interestingly, with the majority of our high value home insurers, there is no deduction for ‘wear and tear’ and, should a loss occur, the claim will be settled on a ‘new for old’ basis.

Making a claim under a high value home insurance policy is a simple, pain-free process. Virtually no, or very little paperwork is required, and claims are generally settled within 48 hours of the information being submitted.

If you would like further information or advice, contact me on 0118 916 5487 or complete an enquiry form.

 

Author: Carl Sharp | February 13th, 2014

Contact the author

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