Insurer urges contents insurance check

Friday, December 2, 2005

Contents insurance provider More Than has reminded people to regularly check the cover offered by their contents insurance policy despite the fact that the value of goods in the home has only slightly risen this year.

According to the More Than Home Contents Index, growth in the value of goods in the nation's homes has dramatically slowed in 2005, with just a 1.6 per cent growth.

This compares to a 6.7 per cent growth for 2004, yet with the value of contents now at £45,341 on average, More Than is still adamant that people should make sure their contents insurance covers everything it needs to.

"It's easy to lose track of the value of your possessions over time and it's really important to ensure you have enough cover for your home contents should the worst happen," said David Pitt, head of insurance for More Than.

London experienced the biggest drop in the value of home goods with contents insurance in the capital now being required to cover 4.7 per cent less than in 2004.

On the other hand, contents insurance policies have needed to cover a 14.9 per cent increase in the value of home contents in the north-west in 2005.

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