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Art purchases affect home insurance, Direct Line warns

Thu, 23 Aug 2007

Home insurance policies should be revised when people purchase high-value art or expensive jewellery , according to a spokesperson from Direct Line.

Carmel McCarthy said it is "vitally important" that consumers reassess their home insurance policy when they add valuable items to their home contents .

People "keep adding things" to their home, Ms McCarthy said, but they frequently fail to consider how this impacts on their home insurance.

"And if we go to make a claim, we may find that the items we have purchased are not actually covered under the contents insurance we currently have in place," she noted.

If somebody purchases a piece of art, they should notify their home insurance provider so the correct insurance is put in place, said Ms McCarthy.

She explained that some insurance providers will suggest a separate insurance policy for valuable art, while others will amend the existing home insurance policy to make provisions for the new purchase.

According to the Home Office, two homes in every 100 were burgled during 2005-06, with the total number of domestic burglaries reaching some 733,000 in England and Wales.

Meanwhile, research by Endsleigh found that Nottingham is the UK city most at risk of this type of crime, with Guildford in Surrey regarded as the safest.

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