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Remember second-hand goods in insurance policy, says insurer

Fri, 12 May 2006

Buying second-hand goods is getting increasingly popular with homeowners and an insurance provider urges them to ensure both old and new items are covered by their home contents insurance .

According to the home insurer company esure, over 9.5 million homeowners regularly look out for bargains at car boot sales and charity shops and thousands head to the rubbish tips to find other people's cast-offs.

The rise of eBay has also helped diminish people's embarrassment over owning secondhand goods, with only 14 per cent of people admitting that they'd feel highly red-faced if they confessed to their second hand purchases.

Nikki Sellers from the insurance company calls the growing popularity of car boot sales and online auction sites a "phenomenal transformation".

She also clarifies what second hand bargain hunters should do in terms of their home contents insurance, advising them to work out how much it would cost to replace items, rather than just putting down what you actually paid for them in the first place.

This "new for old" replacement insurance cover is part of the majority of home contents insurance policies, she added.

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