Don't forget the value of your loft!

10th November, 2005

Homeowners could be at risk of underinsuring themselves if they forget to include the value of their lofts, new research has revealed.

Saga Home Insurance says that many homeowners fail to take into account the value of their lofts, or estimate its value below its true worth, which could leave them without home insurance for valuable items.

Andrew Goodsell, Saga's chief executive said: 'Often the most unexpected items turn out to be valuable.'

'If your possessions are undervalued, you could find that you receive only a fraction of their worth in the event of theft or damage,' he added.

Some households may have forgotten treasures or antiques in their attics and many insurance companies do not automatically cover individual items beyond a certain value.

Saga Home Insurance suggests that homeowners mark expensive items with invisible pen, so they can be traced by police in the event of a robbery.

 

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