A survey has found that younger generations are more likely to under insure their home contents.
The study identified the three main pitfalls when it comes to contents insurance:
• Being unaware that some policies have a single-item limit
• Not knowing how to accurately calculate the value of possessions
• Not having an up-to-date contents valuation.
68% of respondents aged under 25 were likely to be caught out by all three of these mistakes, while the same only applied to 17% of over 55s. So, many young adults have not sufficiently protected their possessions and, should they need to make a claim, they risk not receiving the full pay-out.
Contact us to make sure your possessions are covered correctly.
As with all insurance policies, conditions and exclusions will apply.
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