7 Mar

Contents valuation important when buying houses for sale in 2011

Contents valuation important when buying houses for sale in 2011

People looking to move into houses for sale in 2011 should ensure their insurance is accurate.

When it comes to protecting home contents, full replacement costs need to be calculated, according to NFU Mutual.

The insurance firm says people who underinsure their properties could lose out if they need to make a claim.

According to a survey by the firm, 65 per cent of homeowner only estimate the value of the items in their home, and over a third fail to update their policy on a regular basis.

John Kenny, chief claims manager at NFU Mutual, said: "Cutting back on the sum insured may seem cost effective at the time, but in the long run it could prove to cost a lot more."

People don't appreciate insurance cover until they need to claim, he added.

Confused.com is calling for home insurance providers to include pet damage within their policies, and has launched an online petition.

According to the comparison site, pets are responsible for approximately £690 worth of damage to the average owner's household.ADNFCR-1222-ID-800446681-ADNFCR

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