Hiscox warns against underinsurance: Moped Premiums and Car Insurance UK: Latest Events

Hiscox warns against underinsurance

Hiscox has commissioned the Fashionable Finances’ study, research which reveals that 69% of British adults have no idea how much the contents of their wardrobe is actually worth.

This exposes them to the risk of under-insuring their home contents, especially as the average British adult spends a hefty Ј1,000 on their wardrobe each year.

For a fashion-conscious 8%, this figure rises to as much as Ј200-400 each month.

Despite the belt-tightening effects of the recession, fashion is relatively unscathed with some 56% stating it had not reduced their spending.

The average total value of clothes, handbags and shoes comes in at Ј2,838 per individual, but 30% of adults questioned were unsure whether this sum was covered by their home contents insurance.

Hiscox’s household insurance expert Austyn Tusler has warned that this knowledge gap could result in underinsurance for home contents for wardrobes, and that this could be repeated with other areas of home contents cover.

Last week the insurer published research indicating that over half of newlyweds were putting themselves at risk of underinsurance on home contents coverage due to the sudden rise in possessions immediately after a wedding.

« HSBC insurance jobs at risk in Bournemouth | Standard Life achieves Pension Quality Mark »

American Car Auto Coverage Discounts

Many professionals may query about national motorcycle insurance breakdown in Pittsburgh or business auto mobile assurance assurance for insured driver. The answer is simple: look at the topic "Hiscox warns against underinsurance" about car insurance uk: latest events and understand the articles for young women from the online motorhome insurance providers.

Hiscox warns against underinsurance

Category Car Insurance UK: Latest Events

Car Insurance UK: Latest Events

LV= warns against undervaluing wardrobes. Home insurer LV= has commissioned research which has shown that many Britons are undervaluing their clothes, shoes and bags when ...

Hiscox advise newlyweds against under insuring. Specialist insurer Hiscox has commissioned research which has revealed that 53% of professional couples are leaving themselves open to under ...

Kwik Fit advise wedding insurance re-evaluation. Newlyweds are being advised by Kwik Fit Insurance to remember to reassess their home contents insurance to make sure it ...

• Search option on automotive website

  • Find out the most affordable deals and prices here.