'Brits undervalue home contents by 150%'

Posted : 31-10-2006

Householders in Britain could be undervaluing the contents of their home by up to 150 per cent, it has emerged.

According to new research from Legal & General, the average value estimated by UK homeowners is approximately £14,300.

However, the insurer has discovered that the total value of possessions in a three-bedroom home could be as much as £38,000.

Consequently, Legal & General is advising homeowners to check their household and home contents insurance policies to ensure they have adequate cover.

"It would appear that insurance to cover loss of property from the home, for example as a result of a burglary, could be over £20,000 below the level it should be," said Andy Dawson, operations director at the general insurance business of Legal & General.

"It's surprising when you go around a home how much the value of the items in each room can soon add up."

Legal & General provides household insurance and contents insurance, offering customers with houses of five bedrooms or over the opportunity to decide on a suitable sum of insurance.


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