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vineri, 6 ianuarie 2012

Britons insuring collections worth more than 6K every year

Britons insuring collections worth more than 6K every year

by Blaine Davidson

A study of <a href=" http://www.moneysupermarket.com/home-insurance/">home insurance quotes from Moneysupermarket.com </a> on the home contents insurance industry has revealed that people in Britain are keeping antiques and collections worth an average of more than 6,000 in their homes throughout the recession, boosting their insurance premiums in the process.

Stamp collections were found to be the most valuable household hoard, reaching an average of 6,138, while the average insured art collection is worth 4,209. Gold is another material that appears to be in abundance on home insurance policies, with an average of more than 3,500 in thousands of homes in Britain. Medals weighed in at an average total of around 4,500 in value.

Julie Fisher, head of <a href="http://www.moneysupermarket.com/home-insurance/buildings-insurance/">building and contents insurance at MoneySupermarket</a>, commented: "This 'hoarding' is an interesting phenomenon seemingly borne out of our current difficult economic times. Perhaps many are shunning more traditional savings routes, buying gold and antiques rather stashing their money in the bank. It seems we are all looking at our possessions and scrutinising their proper value, keeping and insuring things that we may have thrown away or sold.

"Also, with the price of gold hitting close to a staggering high of $1,900* an ounce, it's interesting that many homes in Britain are holding onto their gold, rather than selling it for cash as many have done in the past."

Julie Fisher added: "The era of 'Rule Britannia' is alive and well but whether people have inherited valuable heirlooms, or have scoured shops and markets to unearth valuable retro treasures, it's crucial to understand how underestimating the overall value of home contents could leave you underinsured and severely out of pocket."

Based on figures in spring 2011, laptops were found to be the most common item to appear in insurance quotes, with 42 per cent of all individually insured items. The personal value of bicycles is also on the rise at 22 per cent of that list.

The average value of the 'specified items' on insurance policies is 2,799, which makes it rather unsurprising that theft was found to be the main cause for claims on contents insurance. This value varies across the nation, with the south east area having an average of 3,118, Greater London having 3,682 and the Channel Islands topping the charts at 4,288.

Homeowners with insurance most commonly claim for theft and vandalism on their home contents policies and escape of water on their buildings insurance, as the average premium for both in Britain fell by 0.4 per cent in the year between June 2010 and May 2011.

<a href="http://www.moneysupermarket.com/home-insurance/contents-insurance/">Contents insurance</a> is the best way to make sure you get your belongings back if your house gets broken into.

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