While a big part of home security involves having electric gates in Buckinghamshire and similar features installed on the premises, you also need to make sure you have the appropriate insurance in place so if you are burgled and precious possessions stolen you’re still covered for the financial loss, if not the sentimental one.
New research from GoCompare Home Insurance has just revealed that there is in fact a big variation in the level of financial protection that different insurance policies provide, ranging from £3,000 to £6,000.
Not only that, but insurers will also limit the amount they’ll pay out for one individual item, with policies varying from £750 to £15,000. Typically, limits range between £1,500 and £3,000. Remember that if you have belongings that are worth more than the limit on your policy, you’ll have to have them listed separately. Although this could push your premium up, it will mean your possessions are covered to their full value.
“The value of alternative assets, like gold and silver fluctuates so, we recommend that people have their precious items revalued regularly and review their insurance accordingly. Likewise, if you inherit jewellery, coins or a work of art, but are unsure of its worth, it’s wise to arrange a valuation to make sure it is adequately insured,” the price comparison site’s Ben Wilson advised.
Read your policy terms and conditions carefully to see what you’re covered for and what you’re not. Bear in mind that a lot of providers out there don’t cover you for personal possessions away from home or accidental damage to jewellery as standard, so you may well have to buy this as an optional extra.