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Homeowners fail to insure valuables, says Halifax

Tue, 26 May 2009

New research by home insurance provider Halifax has shown that one in ten households does not have cover for its valuable items.

A survey of 2,000 people found that 67 per cent have costly objects and equipment in their houses, but 47 per cent do not know how much the items are worth, while one in ten do not have them covered under their home insurance .

Another 38 per cent believe that protection of their items is included in their home insurance deal, but are not aware of the actual details.

Many of the items are family heirlooms which homeowners wish to pass on to their children, according to the survey, while one in ten is looking to increase the number of expensive or sentimentally valuable things kept in their homes .

David Rochester, head of underwriting for Halifax Home Insurance, said: "Although in many cases collectables are unique and irreplaceable, most people would at least want to recoup any financial loss in the event of them being stolen or damaged."

Virgin Money recently urged vinyl record enthusiasts to make sure their collections are protected from damage, loss or theft under a home insurance policy .
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