Many people in Britain may find their home insurance policy is not adequate to spare them a financial headache should anything go wrong in their property .
This is the suggestion of new research from Santander Insurance, which found nearly 40 per cent of those questioned have experienced a costly mistake as a result of being underinsured.
According to the investigation, two-in-five Brits have been forced to shell out more than £200 as a result of items in their dwelling being stolen or damaged – with this sum rising to over £500 for one-in-five respondents.
Colin Greenhill, director of Santander Insurance, stated: “While customers obviously want good value from their home insurance, the best value policy is the one that actually provides comprehensive cover when things go wrong.”
The research showed upholstery, rugs and carpets are the items most likely to be accidentally damaged, while a sizeable number of those quizzed admitted to losing gadgets such as iPads and mobile phones.
It was also demonstrated that sports equipment and expensive technology such as camcorders and cameras are not averse to being misplaced or damaged.