Jul/090
Regularly Updated Valuations are essential for contents over £60,000
Experts are urging consumers to invest in regularly updated valuations to prevent not being covered by insurance for certain things stolen. The value of heir-looms amongst other valuable objects can fluctuate in value. If it increases in value since it has been insured and is then stolen, you are not covered for the item and many insurers wont pay out.
They was to prevent this from happening is to have regular valuations on house contents over £60,000/ though this is expensive, it could save money in the long run. Consumers are being advised to photograph and take detailed descriptions of objects of value. Also, if objects are insured at auction price rather than retail price, a saving will be made as these prices are always lower.
Valuations are definitely something that needs to be considered when there are heir-looms involved.
Jul/090
Consumers Cut Back on Contents Insurance
The recession is forcing many people to make cut backs to be able to afford necessities. Many consumers think that contents insurance is not something that is essential and are cancelling it in the height of the recession. But experts are warning this is a “false economy”, and by cutting this out will only lead to more expense.
They add that insurance is the “safety net” consumers need in these times. Should anything drastic happen, with no insurance there is no easy way to repair or replace.
Jun/090
‘Ditching’ insurance is a false economy saver
Most people are choosing not to renew their home insurance due to the recession, research shows. Contents cover, buildings insurance and even life insurance are all being one of the first things people are cutting back on to save pennies in the recession.
This is something that will prove costly in the future and should only be done in desperate measures.
Insurance provides us with the security that we are not going to be out of pocket if a disaster were to happen. Without this insurance, many items destroyed, stolen, damaged etc will only be able to be fixed or replaced with a great cost to the consumer. It will not only out price the insurance cover itself, but many people will not be able to fix the items and consequently suffer a great loss.
Jun/090
Items used outside of the home also needs to be covered by Contents Insurance
Now that the hot weather is nearing, many people are starting to have BBQ’s and outdoor parties. However, items left outside are not always covered by your contents insurance. This is something people need to look into before leaving valuable items or garden furniture in the garden overnight. By not double checking what your home and contents insurance covers people can feel disappointed when if something is stolen they are not adequately compensated.
Having the right contents insurance ensures that in the unfortunate event you are burgled you are not left unable to replace the items because the insurance company has declined your claim.
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