Britons warned of underinsurance risk

Posted : 25-05-2005

The public has been reminded to ensure that their home and gardens are not underinsured.

Hiscox estimates that two-thirds of affluent households are underinsured, by approximately 40 per cent, and has warned that expenditure on garden furniture and gardening tools is adding to the problem.

The value of home contents is also increasing by 50 per cent every five to ten years, making it pertinent that consumers update their home insurance contents to include new purchases.

Underinsurnce is a major problem for homeowners, leaving them at threat of risk in the eventuality of a burglary or damage to their property.

With summer on the horizon, a rise in garden equipment, including barbeques, furniture and heaters, has been forecast, making effective security measures and comprehensive insurance cover a must.

Kevin Kerridge of Hiscox advised: "Prevention is better than cure - so my advice is to get a good all round security system.

"And remember, in case the worst does happen, make sure you have adequate insurance for all your home and garden contents and permanently mark your valuables to stand the best possible chance of getting your stolen property back."

A new report has found that home contents insurance can start from as little as nine pence a day.

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