According to a recent study by the Halifax there is over GBP50 billion worth of jewellery in UK homes, with each house having just under GBP2,000 worth on average.
Although the average figure is around GBP2,000 there are around 5 million homes where there is over GBP5,000 worth of jewellery and surprisingly the Halifax has found that over a third of them have never had their items valued. This is an important aspect since valuables should be listed individually on home insurance policies to ensure they are covered.
Geographically the places with the most jewellery in their homes are Preston and Milton Keynes so they are urged to make sure they have their items valued said a Halifax spokesman. This way they will know their home insurance is doing the job it is supposed to do.
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The age of 46 has been found to be the point where own the greatest value of possessions according to a More Than survey.
At this age we average just under GBP41,000 worth of possessions it has been found, with the next best age being 28, when the figure is a little over GBP33,000. However over half of us actually have no idea of the value of items they own, which is a pretty important point when it comes to arranging adequate home insurance.
For anyone wanting to work out their own possessions value More Than Insurance have very kindly added a calculator to their website that will do just this. So pop along and work out whether you have enough home insurance cover today.
Lloyds TSB has announced a new home insurance product for those aged 50 and over, with the option to tailor the protection to suit specific requirements.
This new Lloyds TSB insurance product acknowledges the many and varied needs of people so gives them the chance to opt in or out of different aspects of home protection. Standard cover includes fire, flood, subsidence and theft but on top these there are 21 other areas of household insurance that can be added if required to match the householders individual lifestyle.
A bank spokesman said that this alternative approach showed how well Lloyds TSB recognised the customers as individuals and that we all have different needs from home insurance.
