|  There
is no point insuring your belongings
if you don’t value them correctly.
If you are a victim of burglary or fire
or other disaster and you have insurance,
this does not automatically mean that
you’ll get the full value of the
goods back. It all depends on how much
cover you are insured for.
Sadly,
many people find out too late that they
didn’t properly calculate how
much their possessions were worth and
not only have to deal with the emotive
side of being burgled or having their
belongings ruined in a fire or flood,
but have to suffer a financial loss
too.
And
with this week being Crimestoppers Week*
now is a good a time as any to have
a look at just how well insured you
really are.
Under-insurance
is a genuine concern and a homeowner
who hasn’t got enough cover could
find themselves out of pocket if they
are a victim of burglary, fire or other
disaster.
Even
if your policy is index-linked (where
every year your home contents insurer
automatically increases your level of
cover), it still doesn’t mean
your contents are fully protected.
For
example, over a year, even something
as simple as buying two DVDs and two
CDs every month could add around £500
to the value of your contents. Add to
that an expensive watch, a brand new
suit, children’s games etc and
you could tot up possessions worth over
£2,000 – all which will
not be included in your content insurance.
The
key to making sure you have adequate
home contents insurance is to do a ‘stock
take’ of your property. Include
every item from cooking utensils and
childrens’ toys and clothes up
to the family TV. This will give you
a realistic value for a sum insured.
And
if you are a wine connoisseur with a
cellar fill of valuable wines, make
sure you check with your insurer that
these are adequately covered –
if at all!
Finally,
don’t forget your buildings insurance.
If you have had home improvements such
as fitted wardrobes or a conservatory
carried out, don’t forget to let
your insurer know and get your cover
upped.
Resources:
• Buy Home
Insurance here
• Visit newsletter
16 for tips on keeping
your home secure
• Download a free guide to home
insurance and security at www.protection-insurance.com
* Crimestoppers Week runs from 19 -
25 September 2005
|
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A leaflet
is now available to consumers aimed
at showing the public how to avoid becoming
a victim of identity theft - and what
to do if you have been a victim.