Say yes to cheaper van, home and car insurance

New research shows that British homeowners are undervaluing the contents of their homes by a massive £44 billion.

It means millions of people could be left out of pocket should disaster strike and they need to make a claim on their home insurance.

Figures from inventory service ThecontentsSafe show that around 4.2 million Brits are under insuring their homes by 25 per cent.

Billions of pounds worth of contents is therefore vulnerable and the average household could lose around £10,000.

The importance of having an adequate insurance policy is highlighted by Dean Cornwell, co-founder of ThecontentsSafe.

"Recently a very close friend of mine lost all his possessions in a house fire," says Mr Cornwell.

"When he came to claiming on his insurance, he really struggled to list absolutely everything he owned and, as a result, estimated he lost perhaps £10,000 - despite the fact he was insured.

"With so many burglaries, fires and even tragedies like the Boscastle flood or Birmingham tornado, the threat to home contents is very real.

"But without the ability to list everything you own if disaster does strike, Britons are leaving themselves at very high risk of never even replacing those lost goods," he concludes.

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