Customers advised to include wardrobe contents in home insurance

Fri, 16 Oct 2009

LV= has reminded customers to include the contents of their wardrobe in their home insurance policy .

Emma Hoyler, spokesperson for the organisation's home insurance department, said that in general people tend to only think of their expensive jewellery and electronics when they are getting insured . However, research conducted by LV= has revealed that women estimate the contents of their wardrobe to be worth an average of £1,840, while men guessed theirs as costing £1,470.

Ms Hoyler stated that 70 per cent of policy holders are underinsuring themselves by not purchasing cover for these possessions and they could end up losing out if an accident occurs. She explained: "It's a relatively small percentage of claims where we see an entire wardrobe's contents destroyed, but if you are underinsured you could find that your insurer will reduce the amount they pay out."

Recent research by Hiscox found that 30 per cent of the population do not know if the contents of their closets are covered.
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