Over and underestimating belongings – what to look out for
It’s always the things we take for granted that get overlooked and the same can be said when it comes to valuing the stuff in your home. The whole point of insuring your home contents is to allow you to replace everything should you need to – don’t just think about theft, which is bad enough, but incidents like fire and flood damage can cause devastating damage.
There are some things that you’d instantly think of when it comes to insurance – the TV, DVD player, sound system; but don’t forget the backbone of what makes a house your home. Consider things like the carpets, rugs, curtains (even the curtain poles) pictures on the walls, the sofa you sit on every night and the cushions you hug during the scary bits in those late night horror films. All of these little things that you probably wouldn’t think twice about probably come to more than you give them credit for. Research shows that living rooms and master bedrooms are the most likely to be underinsured – so it might be worth double checking those figures you guesstimated previously.
Don’t forget seasonal items too, such as garden furniture or those dodgy old Christmas decorations in the attic – they might look like rejects from a bad taste party but they probably cost you a fortune brand new.