04th November 2010
Having no household insurance 'is a mistake'
Neglecting to purchase a sufficient household insurance policy for a property is a mistake, according to one commentator.
Writing for Love Money, Rachel Wait has pointed out the fact that replacing belongings as a result of a fire could "be considerably more expensive than simply paying for an insurance policy in the first place".
However, underestimating the value of those possessions could be equally damaging as Ms Wait went on to say that establishing what everything costs can be difficult, but all aspects should be taken into account, including the entire wardrobe of clothes and the tools stacked up in the garden shed.
The writer added that darker evenings can increase the risk of property owners falling victim to burglary, which could instigate a claim.
Installing an alarm and security lighting often come recommended by the police as suitable ways to ward off an opportunistic thief, but leaving a light on when the house is unoccupied could have the same effect.
Posted by Victor Onuohae
Apply online for your home insurance with UIA and you can save up to 15%.
back to news