Financial Services > Home lnsurance > Home Insurance News

Vital to upgrade home insurance alongside house contents, warns expert

Thu, 28 Aug 2008

When people upgrade the contents of their homes it is vital they upgrade their home insurance polices at the same time, one expert has advised.

According to More Than, the value of a typical families' belongings will increase by some £20,000 in the next five years, prompting the insurer to suggest people should be boosting their insurance levels and making sure they are sufficiently covered, reports the Fair Investment Company.

Statistics from the insurance provider show that people can expect the value of their homes contents to rise by 30 per cent, from £70,848 to £90,422 by 2013.

This is set to increase further by 2018, when the average families' belongings are estimated to be worth £124,692.

Commenting on these findings, Dowshan Humzah, product director at More Than, told the news provider that in the current economic climate people are making their homes more comfortable, adding: "It's important they regularly re-evaluate the value of their home contents to make sure they're properly protected."

Meanwhile, the Daily Telegraph recently warned that, in an increasingly litigious society, people must check their home insurance policy covers them if another child has an accident on their property .
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

newsnews rss
Home Insurance news
Home insurance warning over bikes - Tue, 18 Nov 2008
Home insurance warning for holiday makers - Mon, 17 Nov 2008
Tesco offers home insurance discount - Fri, 14 Nov 2008
More News

Save money on your mortgageSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health cover, life insurance and PMIProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.