Contents insurance ’should be reviewed regularly’
Article Category: Debt Management Help and Advice
Not reviewing contents insurance levels could be leaving homeowners at risk of not being covered, it has been warned.
While many houses now have electrical equipment such as plasma televisions, insurance society NFU Mutual suggests that Britons do not regularly upgrade their cover to take high-value items into account.
Some 23 per cent of respondents to a survey conducted by the firm reveal that they have never reviewed their level of cover - putting them at risk of developing bad debt if they were to be robbed.
“There really is no reason for people not to check their cover on a regular basis,” argues corporate communication executive Laura Wood, proposing a yearly consideration should be carried out.
“As well as annually, other good times to review your level of cover could be when you make a large purchase,” she adds.
Ms Wood previously asserted that owners of thatched cottages need not face an increased debt risk when arranging insurance, despite fires in such properties typically being “rapid and spectacular”.
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