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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A fascinating fact about the music festival season is that three out of four people attending them lose possessions while there according to Zurich Insurance.
The study carried out by Zurich found that the typical value of items taken to music festivals by people is over GBP260. The most commonly taken possessions include mobile phones, cameras and MP3 players. The majority of items that go missing are simply left behind, in tents or in bags, with only 10 percent of them being stolen.
Good advice from Zurich Insurance is for festivalgoers to check with their home contents insurer that they will be covered at the festival they are attending. This way at least the financial aspect of losing personal possessions will be dealt with.
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.
